October 3 (SeeNews) - Romanian oil and gas company OMV Petrom [BSE:SNP] said on Monday that is partnering with state-owned lignite-based electricity producer Complexul Energetic Oltenia (CE Oltenia) to build 400 million euro ($392 million) solar parks with an installed capacity of 450 MW.
The four solar energy parks, to be located in Isalnita, Tismana, Rosia and Rovinari, in the southwest of the country, will start providing electricity to the grid in 2024, OMV Petrom said in a press release.
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The project will be developed through four separate legal entities, where ownership between OMV Petrom and CE Oltenia will be equally split.
By 2030, OMV Petrom plans to operate, including through partnerships, renewable energy facilities with a capacity of over 1 GW.
In September, OMV Petrom said it has invested 3 million euro in the installation of photovoltaic panels at 110 of its filling stations.
CE Oltenia is a Romanian coal energy company, which operates facilities with a combined power output of 2.595 MW. The Romanian state owns 77% of the company through the energy ministry.
OMV Petrom is a Romanian integrated energy company, controlled by Austria's OMV. The Romanian state owns 20.6% of the company, which is listed dually on the Bucharest Stock Exchange and the London Stock Exchange.
Its shares traded 0.24% lower at 0.4170 lei on the Bucharest Stock Exchange by 1028 CET on Monday.
($=1.0198 euro)
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