OMV Petrom, Southeast Europe''s largest integrated energy producer, has awarded the engineering, procurement, construction, and commissioning (EPCC) contract for the Ișalnița solar project in Romania. The contract includes the construction of the photovoltaic park, the 110 kV power station for connection to the grid, as well as the operation and maintenance for a period of 2 years from commissioning, the company said.
This is the first large-scale photovoltaic project fully developed by OMV Petrom. The park will have an installed capacity of approximately 89 MWp and is located in Ișalnița commune, Dolj county. The estimated annual production will be approximately 130 GWh.
The contract was awarded to the association of Romanian companies Actual Connect S.R.L., Global Technical Systems S.A., Bit Invest S.R.L., and Alpin Sun S.R.L. following a competitive selection process. Together, these firms bring a combined experience of over 700 MW in photovoltaic systems across Europe, in countries such as Belgium, the Netherlands, Germany, Austria, Hungary, and Romania.
Franck Neel, OMV Petrom Executive Board Member responsible for Gas & Power, stated: "The signing of this contract marks a significant moment for our company, the start of the actual construction of the first large photovoltaic project fully developed by OMV Petrom."
Additionally, as part of the call for projects within Romania''s National Recovery and Resilience Plan (PNRR), OMV Petrom has submitted a project to build a Battery Energy Storage System with a storage capacity of 36 MWh and a power injection into the grid of 18 MW. If successful, the system is to be installed within the Ișalnița park.
OMV Petrom is Southeast Europe''s largest integrated energy producer, with annual oil and gas production of approximately 41 million barrels of oil equivalent (BOE) in 2023. It operates a high-efficiency 860 MW gas-fired power plant and has an extensive distribution network across Romania and neighboring countries with approximately 780 fuel stations under the OMV and Petrom brands.
As of end-2023, Romanian shareholders hold over 43% of the shares of OMV Petrom, of which the Romanian state, through the Ministry of Energy, has 20.7%. OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51.2% stake in OMV Petrom, and the remaining 5.6% is held by other foreign investors. Of the total shares of OMV Petrom, 28.1% represents the free float on the Bucharest Stock Exchange.
Enexus Renewable Energy has taken a significant stride in the renewable energy market in Romania by officially commencing a major project in the first quarter of 2024.
With the initiative to establish Romania''s first Solar Storage Power Plant, the company has taken a significant step towards contributing a sustainable energy production in the region.
With a capacity of 20 MWp / 3MWh, the project boasts both innovative and captivating features. Moreover, receiving support from the European Union''s grant fund demonstrates the project''s alignment not only with local interests but also with the EU''s broader sustainable energy objectives.
İbrahim Akgün, CEO of Turkish Investor Saves Energy, draws attention to the importance of sustainability and said “With this investment project, We are very pleased to contribute to the progress of Romania, the rising value of Europe in terms of renewable energy projects and the name of a sustainable future”
This project is being executed with a strategy where Enexus Renewable Energy will comply with all the specifications of the EU grant program. The company aims to complete the assembly process in the second half of the year and take necessary steps for grid connections.
Mesut Güler, CEO of Enexus Renewable Energy emphasizes that this project will not only be a technological success but also a significant driver for the regional economy. Upon completion, the project will take a significant step towards diversifying energy sources in the region and promoting environmental sustainability.
While reaffirming Enexus Renewable Energy''s commitment to renewable energy market in Romania and its leadership, this project sheds light on the company''s growth in the region and its determination for a sustainable future.
Romania has set a ceiling price of €91 ($99.33)/MWh for solar energy in its first renewables auction. A legal analyst tells pv magazine that this strike price is a good level for the nation’s first contract-for-difference (CfD) auction, but warns that certain aspects of the draft legislation could significantly affect the bankability of the scheme.
The Romanian Ministry of Energy has set a maximum strike price of €91/MWh for solar projects and €93/MWh for wind projects in its first renewables auction under a CfD scheme.
The duration of the CfD agreement will be 15 years from the date of commercial operation. The European Commission approved the project earlier this month with a €3 billion funding package through its Modernization Fund.
Romania''s Ministry of Energy recently updated the draft of its CfD agreement. While many principles remain in line with those previously announced, a key change is that now CfD beneficiaries will have to sell all electricity on centralised markets.
Mihaela Nyerges, managing partner at law firm Nyerges & Partners, told pv magazine the strike price is a "good maximum," but said aspects of the legislation remain "red flags" that could significantly affect the bankability of the scheme.
"One is that the CfD counterparty has no liability to producers if CfD payments are not made due to CfD fund illiquidity allocated to the respective CfD agreement," Nyerges said. "Moreover, the beneficiary is not allowed to set-off future payments due to CfD Counterparty with those outstanding from the latter."
Elsewhere, a decision to give the CfD counterparty the right to terminate the agreement for convenience "significantly contravenes the stability of the scheme, which is essential for ensuring its bankability,” Nyerges said.
She explained that termination compensation would be calculated on historical reference prices, which "may not be a fair representation of CfD payments that would have been gained by producers had the termination not occurred.”
CfD beneficiaries will not receive CfD payment for time intervals with negative prices, which Nyerges said is a "concern from the perspective of cash-predictability.” However, she added that the approach mirrors the UK system, "which was used as a source of inspiration.”
About Romania first solar
As the photovoltaic (PV) industry continues to evolve, advancements in Romania first solar have become critical to optimizing the utilization of renewable energy sources. From innovative battery technologies to intelligent energy management systems, these solutions are transforming the way we store and distribute solar-generated electricity.
When you're looking for the latest and most efficient Romania first solar for your PV project, our website offers a comprehensive selection of cutting-edge products designed to meet your specific requirements. Whether you're a renewable energy developer, utility company, or commercial enterprise looking to reduce your carbon footprint, we have the solutions to help you harness the full potential of solar energy.
By interacting with our online customer service, you'll gain a deep understanding of the various Romania first solar featured in our extensive catalog, such as high-efficiency storage batteries and intelligent energy management systems, and how they work together to provide a stable and reliable power supply for your PV projects.
Related Contents
