Romanian oil company OMV Petrom has signed a deal to buy half of a 1GW pipeline of wind and solar projects in the north-east of the country.
It will buy a 50% stake in Electrocentrale Borzesti – which owns a renewables pipeline consisting of 950MW of wind projects and 50MW of solar PV – from RNV Infrastructure.
The pipeline consists of four wind farms and a solar PV project in the north-east of Romania, all of which have secured access to the grid. The wind farms are due online between 2025 and 2027.
The transaction is due to close in the first half of 2024.
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