DRI and OMV Petrov Have Signed the Largest Physical Power Purchase Agreement (PPA) for Solar Photovoltaic (PV) Power in Romania to Date
/BUCHAREST, October 22, 2024, 9:00 GMT, ENERY/ DRI, the EU renewables arm of Ukrainian energy company DTEK, has signed the largest physical solar power purchase agreement (“PPA”) in Romania with OMV Petrom S.A., the largest integrated energy producer in Southeastern Europe. The PPA is a package deal, grouping three PPAs with OMV Petrom over an 8.5-year period for approximately 100GWh per year at a fixed rate, including the sale of physical electricity and Guarantees of Origin.
Physical delivery will start in January 2026, with OMV Petrom purchasing 62% of the energy produced by DRI’s Glodeni I and Glodeni II solar plants – these projects have a combined capacity of 113MWp. Commencing in January 2027, OMV Petrom will purchase 50% of the production from DRI’s Vacaresti 126MWp solar project, for which construction will start in 2025.
John Stuart, CEO, DRI, said: “This is an important agreement for DRI and the Romanian renewables sector as the largest physical solar offtake deal ever in Romania. Securing long term corporate offtake agreements is essential to facilitate renewable energy growth, and it demonstrates that clean energy offers a competitive alternative. We are delighted to have signed this deal with OMV Petrom, one of the largest and strongest Romanian businesses. With this agreement, we help to both accelerate Romania’s energy transition and OMV Petrom strategic goals.”
Energy produced by DRI projects not sold under the OMV Petrom PPA will be sold into the market by DTEK’s subsidiary D.TRADING. DRI currently has 299MW in its portfolio in Romania, including the first wind farm built in the country in a decade. The company aims to deliver 1GW of renewable energy and battery storage projects in Romania by 2030. Across its priority markets, DRI now boasts a 1.3GW portfolio of operating projects, construction projects and others in various stages of development – in line with its goal to build a 5GW portfolio by 2030.
Image credit: DRI
For more information about the solar power market in Romania, including full contact details of solar project owners and developers, you may read here: Romania Solar Photovoltaic (PV) Power Market Outlook 2024÷2033
In order to download the executive summary brochure with sample pages, please access from here: Romania Solar Photovoltaic (PV) Power Market Outlook - Sample
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