REG - OMV Petrom S.A. - Signed financing contracts for photovoltaic parks

OMV Petrom SAAnnouncement

17/07/2023 10:30

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RNS Number : 2318G  OMV Petrom S.A.  17 July 2023

 

 

 

 

 

 

OMV Petrom S.A.

Investor News

17 July 2023

 

Financing contracts signed for four photovoltaic parks to be developed by OMV
Petrom and CE Oltenia

 

►  OMV Petrom and Complexul Energetic (CE) Oltenia will build four
photovoltaic parks with a cumulated capacity of ~450 MW

 

OMV Petrom, the largest integrated energy company in Southeast Europe,
announces the signing of the financing contracts to construct four
photovoltaic parks with a cumulated capacity of ~450 MW. The financing
contracts have been signed by the Ministry of Energy, as contracting
authority, and by the representatives of the four legal entities,
beneficiaries of this financing and responsible for implementing the projects.
Within these entities, OMV Petrom and CE Oltenia are equal partners, each with
a participation of 50%.

 

Franck Neel, member of the OMV Petrom Executive Board, responsible for Gas and
Power: "With the signing of the financing contracts we took another big step,
which will allow the team to focus on the construction phase of the four
photovoltaic parks. OMV Petrom's goal is to become an important player in
renewable energy and supplier of green electricity for our customers, by
installing production capacities, including via partnerships, by 2030."

 

In December 2021, OMV Petrom was designated as the selected investor for these
projects, at the end of a selection procedure organized by CE Oltenia. The
total investments needed for the development of the four photovoltaic parks
amount to more than EUR 400 mn, 70% being financed through the Modernization
Fund.

In the next period, the tender documents will be released in order to contract
the engineering services, the construction and commissioning of the
photovoltaic parks. The execution works will start after the winner of this
tender will be designated.

According to current estimates, the PV parks should supply electricity to the
national energy system in 2025.

 

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.

 

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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