- Final Investment Decision (FID) taken for Gabare, one of the largest solar projects with battery storage in Bulgaria
- Investments estimated at EUR 300 million
- First production in 2028
June 15, 2026
OMV Petrom, the largest integrated energy producer in Southeast Europe has made the final investment decision for Gabare, one of the largest integrated solar energy and battery storage projects in Bulgaria. The project, located in the Byala Slatina region, includes a photovoltaic plant with a capacity of ~415 MWp and a battery storage system (BESS) which can store around 600 MWh.
"Our first battery storage project marks an important step in the development of a modern energy portfolio, where renewables and flexibility solutions complement each other. At the same time, we are expanding our regional footprint by developing projects in Bulgaria, in addition to Romania", said Franck Neel, Member of the OMV Petrom Executive Board responsible for Gas & Power.
The development of the project involves investments of about EUR 300 million, including around EUR 100 million allocated to the energy storage component. The project is to be financed both from the partners sources and through external funding.
The project will be developed through Dunav Solar Plant OOD, a company in which OMV Petrom owns 50%, together with Enery, who holds an equal stake.
The Gabare project already has the necessary permits and is in the ready-to-build stage. The construction works will start in the next period, after the signing of the construction contract, and the first production is estimated for 2028.
There is already a PPA agreement through which OMV Petrom will acquire 50% of the future production of the solar park.
OMV Petrom in Bulgaria
OMV Petrom has been a reliable partner for Bulgaria in the energy field for many years, with a presence throughout the value chain – from fuel retail to natural gas marketing and offshore exploration activities in the Black Sea.
OMV Petrom operates a network of 93 filling stations in Bulgaria and, from 2023, the company sells natural gas to non-household customers in Bulgaria through its local subsidiary.
About OMV
It is our purpose to re-invent essentials for sustainable living. OMV is transitioning to become an integrated sustainable energy, fuels, and chemicals company. OMV is striving to achieve net zero by 2050 at the latest. In 2025, the company generated revenues of 24 billion euros with a talented workforce of around 22,300 employees worldwide. OMV’s key strategic shareholdings include a 51.2 percent stake in OMV Petrom and 50 percent in Borouge International. OMV shares are traded on the Vienna Stock Exchange (OMV) and in the US on OTCQX (OMVKY, OMVJF). For more information, please visit www.omv.com.
About OMV Petrom
OMV Petrom is the largest integrated energy producer in Southeastern Europe, with an annual Group hydrocarbon production of approximately 38 million boe in 2025. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high-efficiency gas-fired power plant. The Group is present on the oil products retail market in Romania and neighbouring countries through approximately 780 filling stations under two brands – OMV and Petrom.
OMV Petrom is listed on the Bucharest Stock Exchange, with a 28.1% free float. As of end-2025, Romanian shareholders held around 45% of the shares (of which the Romanian state held 20.7%, and 24.4% were owned by pension funds in Romania, as well as other Romanian natural persons and legal entities). OMV Aktiengesellschaft held a 51.2% stake in OMV Petrom, and the remaining 3.7% were held by other foreign investors.
OMV Petrom is one of the largest contributors to the state budget, with more than 48 billion euro in taxes and dividends paid between 2005 and 2025. During the same period, the company invested over 21 billion euro and allocated around 210 million euro to develop communities in Romania, focusing on environmental protection, education, health, and local development.
Our commitment to climate change mitigation is reflected by our consistent efforts to reduce our emissions, with the long-term goal to achieve net zero operations by 2050.