Renewables

OMV Petrom plans bioethanol plant, biggest solar park in Romania

OMV Petrom bioethanol biggest solar park Romania

Photo: Ryan Searle on Unsplash

Published

November 12, 2020

Country

Comments

0

Share

Published:

November 12, 2020

Country:

Comments:

0

Share

OMV Petrom, the largest energy company in Romania, intends to build a bioethanol factory worth EUR 246 million and a solar power plant valued at EUR 82 million, local media reported.

Within the 10d mechanism, through which the government in Bucharest will distribute allocations from the European Union’s Modernization Fund, OMV Petrom applied for support for two major renewable energy projects, news outlets in Romania learned.

Second-generation bioethanol plant to be built in Prahova

Unnamed people familiar with the matter told E-nergia.ro that the largest oil producer and refiner in the country would develop a second-generation bioethanol plant project. The company is said to have requested 35% of the investment worth EUR 246 million, excluding value-added tax.

OMV Petrom has petrol stations in Romania, Moldova, Bulgaria and Serbia

The oil company intends to build the factory in Prahova County. The area in the central part of the country is also eligible for funding from the EU’s Fair Transition Fund. According to the law, the gasoline that is sold at gas stations in Romania must have an 8% share of bioethanol.

OMV Petrom operates filling stations in Romania under the OMV and Petrom brands. It is also present in Moldova, Bulgaria and Serbia. It has been installing chargers for electric cars and solar panels at its retail units.

OMV Petrom applies for half of expenses for 111 MW solar power plant

Economica.net separately reported, without identifying sources, that the company is working on a 111 MW solar power project in Ișalnița in Dolj County in the southwest. The insiders said it applied for 50% of the EUR 82 million endeavor.

It owns the location, where it produced fertilizers and methanol until a decade ago. If the planned photovoltaic unit came online, it would currently be by far the biggest of its kind in Romania. However, struggling state-controlled Complexul Energetic Oltenia intends to install eight solar parks with a total capacity of 700 MW in its coal complex as it decommissions open pits and sludge and ash landfills.

The oil producer and refiner reported a 70% plunge in net income for the first three quarters amid falling prices

Of note, three years ago OMV Petrom sold its 45 MW Dorobanțu wind farm in Dobruja to Transeastern Power.

The largest energy firm in Romania is 51% owned by Austria-based OMV, while the state holds 21%. OMV Petrom is listed on the Bucharest Stock Exchange and the London Stock Exchange.

It recently posted a year-on-year drop in profit by 70% to EUR 170 million for the first nine months of this year, citing the drop in prices of oil and fuel. Turnover slumped 17% from the same period in 2019, to EUR 3.1 billion.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Greece PPC Renewables two solar power plants f 250 MW

Greece’s PPC Renewables finishing two solar power plants of 250 MW in total

29 March 2023 - PPC Renewables said it would complete two photovoltaic facilities in Greece's coal hubs by the end of the month

power utilities western balkans eu ets smissions co2 cbam

Workshop on emissions trading: cooperation of regional utilities toward energy transition

29 March 2023 - Top managers of five state-owned power companies from BiH, Montenegro, North Macedonia and Serbia have discussed cooperation

seepex intraday market launch

All set for intraday electricity market in Serbia – next step is to join single European market

29 March 2023 - The opportunities for electricity buyers and sellers were presented by the representatives of SEEPEX, BSP SouthPool, and European Commodity Clearing

EU deal ban sales new diesel gasoline cars 2035

EU reaches deal to ban sales of new diesel, gasoline cars in 2035

29 March 2023 - EU energy ministers agreed on a ban on new cars and vans running on gasoline and diesel starting in 2035, but with a notable exception