OMV Petrom, Saint-Gobain Romania in 800 GWh green power deal

Starting in January 2026, OMV Petrom will deliver green energy obtained from wind and photovoltaic sources to fourteen locations operated by Saint-Gobain Romania, the oil and gas group said in a press release.

The deal, whose value was not undisclosed, will cover 100% of the electricity needs at all of Saint-Gobain Romania's work points, contributing to the company's decarbonization objectives.

"The agreement marks another milestone in Saint-Gobain's journey to reduce its scope 1 and 2 emissions by 33% by 2030 - compared to 2017, and to reach 'net zero emissions' by 2050," Saint-Gobain Romania CEO Ovidiu Pascutiu said.

"Through our Strategy 2030, we are committed to supporting the energy transition in Romania and in the region, with investments of around 11 billion euros ($11.804 billion) until the end of this decade, of which about a third will support low and zero-carbon projects. We have taken important steps in developing a portfolio of power projects from renewable sources, which will gradually enter production in the coming years," added Franck Neel, member of OMV Petrom's gas and power executive board.

Last month, OMV Petrom said it will test an innovative carbon capture and utilisation installation at its Petrobrazi refinery over a period of four months, starting in June.

Austria's OMV Aktiengesellschaft holds a 51.157% stake in OMV Petrom. The Romanian economy ministry owns 20.698% and 28.145% is free float on the Bucharest bourse and the London Stock Exchange.

In the first trimester of 2024, OMV Petrom booked a net profit of 1.399 billion lei ($301.7 million/281.2 million euro), down 6% compared to the same period of last year.

Saint Gobain Group operates in 76 countries and has over 160,000 employees. In Romania, the company has around 2,000 employees working at 14 industrial sites located in Branesti, Calarasi, Ploiesti, Satu-Mare, Turda, Suceava, Valenii de Munte, Popesti Leordeni and Aricestii Rahtivani.

Shares in blue-chip OMV Petrom changed hands 0.28% higher at 0.7095 lei as at 1002 CET on Friday on the Bucharest bourse.

(1 euro=4.9753 lei)