REG - OMV Petrom S.A. - Agreement for purchase of photovoltaic parks

OMV Petrom SAAnnouncement

29/06/2023 08:45

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RNS Number : 3732E  OMV Petrom S.A.  29 June 2023

 

 

 

 

 

 

OMV Petrom S.A.

Investor News

29 June 2023

 

 

OMV Petrom signed an agreement for the purchase of several photovoltaic parks
in Romania

 

►  The installed power of the photovoltaic parks will be ~710 MW

 

OMV Petrom, the largest integrated energy company in Southeast Europe, signed
an agreement for the purchase of several projects for the construction of
photovoltaic parks in Teleorman county. The projects are being developed by
the Danish developer Jantzen Renewables ApS. The completion of the transaction
is estimated for the second quarter of the next year, when the projects will
reach the "ready-to-build" phase. The installed power of these photovoltaic
parks will be ~710 MW. The parks will be one of Southeast Europe's most
significant photovoltaic projects, powering the equivalent consumption of
~280,000 Romanian households annually.

 

Franck Neel, member of the OMV Petrom Executive Board, responsible for the Gas
and Power activity: "This purchase supports the achievement of OMV Petrom's
strategic objective of having an installed renewables capacity of at least 1
GW by 2030, including through partnerships. In addition, it allows us to
adequately respond to the ever-increasing demand for green energy,
contributing at the same time to the strengthening of Romania's security of
supply and energy resilience."

 

Christian Jantzen, Co-founder & CEO of Jantzen Renewables: "The
photovoltaic parks represent a great leap forward, and it further helps pave
the way for a greener future for Romania. We are proud to develop one of
Southeast Europe's most significant photovoltaic projects. We have a solid
commitment to Romanian renewables; these photovoltaic parks and our strong
pipeline bears witness hereof."

 

The photovoltaic parks will be built in Teleorman county. The locations chosen
for the PV parks have the potential for strong yields in terms of solar
energy. Thus, the estimated production for 25 years of operations is 23,900
GWh, enough to power the equivalent of ~280,000 Romanian households annually
consumption. The projects have already been granted access to the national
electricity transmission network.

 

About OMV Petrom

OMV Petrom is the largest integrated energy company in South-Eastern Europe,
with an annual Group hydrocarbon production of approximately 43 million boe in
2022. The Group has a refining capacity of 4.5 million tons annually and
operates an 860 MW high-efficiency power plant. The Group is present on the
oil products retail market in Romania and neighboring countries through
approximately 780 filling stations under two brands - OMV and Petrom.

OMV Petrom is a company in which Romanian shareholders hold over 42% of the
shares (of which the Romanian state, through the Ministry of Energy, holds
20.7%, and 21.7% are owned by pension funds in Romania, to which are added
almost 500,000 individual investors and other Romanian entities). OMV
Aktiengesellschaft, one of the largest listed industrial companies in Austria,
holds a 51.2% stake in OMV Petrom, and the remaining 6.4% are held by other
foreign investors. Of the total shares of OMV Petrom, 28.1% represents the
free float on the Bucharest Stock Exchange and the London Stock Exchange.

OMV Petrom is the largest contributor to the state budget, with approximately
39 billion euro in taxes and dividends paid between 2005 and 2022. During the
same period, the company invested approximately 17 billion euro. In 2022, the
taxes paid by OMV Petrom ensured 7% of Romania's tax revenues.

Since 2007, OMV Petrom has included corporate responsibility principles into
its business strategy. Between 2007 and 2022, the company has allocated around
120 million euro to develop communities in Romania, focusing on environmental
protection, education, health, and local development.

On July 29th, 2020, OMV Petrom announced its support for the recommendations
issued by the Task Force on Climate-related Financial Disclosures (TCFD)
regarding risks and opportunities on climate change. OMV Petrom annually
reports on the progress made in implementing these recommendations.

About Jantzen Renewables

Established in 2020, Jantzen Renewables is a spinout from the project
development company Jantzen Development. With the core team having +15 years
of experience and a track record in project development in Romania, Jantzen
Renewables has quickly established itself as a significant player in the
renewable energy ecosystem. Currently, the company is developing a +2GW
pipeline of renewable energy assets across the country.

 

 

 

Contact:

OMV Petrom Investor Relations

Tel: +40 372 161930, Fax: +40 372 868518

e-mail: investor.relations.petrom@petrom.com
(mailto:investor.relations.petrom@petrom.com)

 

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