REG - OMV Petrom S.A. - OMV Petrom and CE Oltenia invest in PVs

OMV Petrom SAAnnouncement

03/10/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221003:nRSC5059Ba&default-theme=true

RNS Number : 5059B  OMV Petrom S.A.  03 October 2022

 

OMV Petrom S.A.

Investor News

October 3, 2022

 

OMV Petrom and Complexul Energetic Oltenia invest in the electricity
production from solar PVs

 

►  The two companies will build four photovoltaic (PV) parks with a total
capacity of ~450 MW

►  The total investments amount to over EUR 400 million

►  By putting the four parks into operation, Romania's installed solar
power capacity increases by ~30%

 

OMV Petrom, the largest integrated energy company in Southeast Europe, will
build, in partnership with Complexul Energetic Oltenia (CE Oltenia), four
photovoltaic (PV) parks with a total power capacity of ~450 MW.

In December 2021, OMV Petrom was designated as selected investor for these
projects, following a selection procedure organized by CE Oltenia. The total
investments required for the development of the four PV parks amount to over
EUR 400 million, approximately 70% being financed through the Modernization
Fund.

Franck Neel, member of the OMV Petrom Executive Board, responsible for Gas and
Power: "Our goal is to put in function more than 1 GW of renewable power
capacity by 2030, including through partnerships. We made significant steps
towards this objective through the association with CE Oltenia and together we
contribute to Romania's energy transition. The installed capacity of the four
photovoltaic parks will increase by a third the total national installed
capacity of solar energy, which is currently around 1.4 GW."

Daniel Burlan, president of CE Oltenia board: "CE Oltenia - the largest
coal-based energy producer in Romania has to adapt its growth strategy to the
new trends and requirements that aim at the decarbonization of the Romanian
energy system by diversifying Romania's energy mix and by replacing
lignite-based units with natural gas power plants and renewable energy
projects, in order to keep safe the national energy system (NES). The
implementation in partnership with OMV Petrom of the four photovoltaic parks
represents an important objective for the company, both in terms of
contribution to Romania's energy transition, and for the implementation of the
measures from the Restructuring Plan approved by the European Commission."

The PV parks will be built in Ișalnița, Tismana, Roșia and Rovinari, on the
sites of the former mining operations operated by CE Oltenia.

According to current estimates, the PV parks should supply electricity to the
national energy system starting 2024.

The project will be developed through four separate legal entities, in a 50% -
50% equity interest structure. The intention is to sell the produced
electricity by these entities to the two partners in equal shares.

 

About OMV Petrom

OMV Petrom is the largest integrated energy company in South-Eastern Europe,
with an annual Group hydrocarbon production of approximately 47 million boe in
2021. 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 790 filling stations under two brands - OMV and Petrom.

OMV Petrom shares are traded on the Bucharest Stock Exchange and the London
Stock Exchange. OMV Aktiengesellschaft, one of the largest listed industrial
companies in Austria, holds a 51% stake in OMV Petrom. The Romanian State,
through the Ministry of Energy, holds 20.6% of OMV Petrom shares, and 28.4% is
owned by natural and legal persons.

OMV Petrom is the largest contributor to the state budget, with approximately
35 billion euro in taxes and dividends paid between 2005 and 2021. During the
same period, the company invested approximately 17 billion euro.

Since 2007, OMV Petrom has included corporate responsibility principles into
its business strategy. Between 2007 and 2021, the company has allocated over
80 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.

 

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)

 

 

About CE Oltenia

Complexul Energetic Oltenia is a coal-based energy producer, with 9 energy
groups and an installed capacity of 2.595 MW.

CE Oltenia offers:

·   base energy in the national energy system, covering a quota of maximum
30% of energy production from NES

·   safe energy, representing an important factor of stability in NES; all 9
groups are qualified to provide system services and to provide secondary power
frequency adjustment

·    performant energy, having an efficient and reliable production process
by extending the life cycle of existing production assets

·   clean energy, meeting all current environmental requirements that
required financial efforts of approximately EUR 1 billion; is the only
producer in Romania that has implemented, for all energy groups, flue gas
desulphurization installations and dense sludge evacuation installations for
slag and ash resulting from the combustion process.

 

The main shareholders: the Ministry of Energy (77%) and Fondul Proprietatea
(21.5%).

Share capital: 270 million lei.

Turnover: 3.3 billion lei.

Number of staff: over 11,000.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCFIFVEIDLVIIF