Romanian oil and gas company OMV Petrom, a subsidiary of OMV, has reached the final investment decision for Gabare, a hybrid project combining a solar power plant and a battery energy storage system.
One of the largest integrated solar energy and battery storage projects in Bulgaria is located in the Byala Slatina region, OMV Petrom said.
It includes a photovoltaic plant with a capacity of 415 MWp and a battery energy storage system (BESS) that can store around 600 MWh.
Back in 2025, as part of its decarbonization efforts, OMV Petrom bought 50% in the Gabare solar power project from its developer, Enery Element.
The project is valued at EUR 300 million
“Our first battery storage project marks an important step in the development of a modern energy portfolio, where renewables and flexibility solutions complement each other,” said Franck Neel, Member of the OMV Petrom Executive Board responsible for Gas & Power.
At the same time, the company is expanding its regional footprint by developing projects in Bulgaria, in addition to Romania, he added.
According to the company, the project involves investments of about EUR 300 million, including around EUR 100 million allocated for the energy storage component.
The project will be financed both from the partners’ own sources and with external funding, OMV Petrom explained.
The project will be developed through Dunav Solar Plant OOD, a company in which OMV Petrom and Enery each own a 50% stake. The Gabare project already has the necessary permits and is in the ready-to-build stage.
The plant is scheduled to come online in 2028
Construction works will begin in the coming period, after the signing of a building contract, with production targeted to start in 2028, according to OMV Petrom.
There is already a PPA agreement through which OMV Petrom will purchase 50% of the future solar park’s output.
Of note, OMV Petrom is looking to increase its 2030 renewable electricity target of over 2.5 GW.
Vice President Narcis Popescu, responsible for business development in the gas and power division, revealed at Belgrade Energy Forum (BEF 2026) that Serbia was the main target in the Western Balkans for expansion in the segment.
The company has 100 MW in operation and over 900 MW under construction, out of a portfolio of more than 2.5 GW of renewables overall. It consists of solar and wind power in a 3:2 ratio.
