Gender workshop - UNECE–Global Water Partnership ADA June 23, 2021
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 Dobrogea 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

Vattenfall Europe s largest electric boiler Amsterdam

Vattenfall to install Europe’s largest electric boiler in Amsterdam

15 June 2021 - Vattenfall will use electricity from wind farms and solar parks to store heat in a 150 MW electric boiler system in Amsterdam

CWP Global to build first utility-scale solar power plant in Serbia

CWP Global to build first utility-scale solar power plant in Serbia

15 June 2021 - Renewable energy company will start building a 50 MW facility near the southwestern Serbian town of Sjenica at the beginning of 2023.

Greece solar power free electricity poor households

Greece to build solar power plants for free electricity for poor households

15 June 2021 - Greece earmarked EUR 100 million in subsidies for the construction of photovoltaic facilities to supply electricity to the people in need

Luka Petrovic ERS intends to be regional seller of balance energy

Luka Petrović: ERS intends to be regional seller of balance energy

11 June 2021 - Power utility Elektroprivreda Republike Srpske plans to build hydropower plants and PV facilities, while wind farms will not be in its focus.