- The Gabare photovoltaic project is designed with an estimated capacity of 400 MW
- The agreement includes a long-term Power Purchase Agreement (PPA) under which OMV Petrom will acquire 50% of the electricity generated by the solar park
OMV Petrom, the largest integrated energy company in South-Eastern Europe, has completed the acquisition of the 50% interest in the Gabare photovoltaic project, developed by Enery in Bulgaria. Announced in June 2025, the transaction marks a significant step in OMV Petrom’s regional expansion and in strengthening its renewable energy portfolio.
Located in Gabare, Byala Slatina region, the project has an estimated capacity of 400 MW leading to a 0.6 TWh estimated annual production, making it one of the largest solar developments in Bulgaria. It will be equipped with solar trackers to maximize energy production.
As part of the investment framework, OMV Petrom and the project company will enter into a long-term PPA, through which OMV Petrom will acquire 50% of the future electricity output of the solar park. In addition, the partners are considering the development of a battery energy storage system with a capacity of up to 600 MWh to support grid flexibility and stability.
“We are expanding our regional footprint and contributing to the energy transition through investments in large-scale solar projects. The partnership with Enery reflects our commitment to a more sustainable future,” said Franck Neel, Member of the Executive Board of OMV Petrom responsible for the Gas & Power activity.
“The partnership with OMV Petrom demonstrates Enery’s ability to structure scalable and stable projects that are essential for the energy transition in the region,” said Richard König, CEO of Enery.
Through this partnership, OMV Petrom and Enery plan to invest approximately EUR 200 million by 2027, including external financing. Final investment decision is scheduled to be taken in Q1 2026, with start of commercial operation being estimated for 2027.
About OMV Aktiengesellschaft
It is our purpose to re-invent essentials for sustainable living. OMV is transitioning to become an integrated sustainable energy, fuels and chemicals company with a focus on circular economy solutions. By gradually switching over to the low carbon business, OMV is striving to achieve net zero by 2050 at the latest. In 2024, the company generated revenues of 34 billion euros with a diverse and talented workforce of around 23,600 employees worldwide. 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 40 million boe in 2024. 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 a company in which, as of end-2024, Romanian shareholders hold over 44 percent of the shares (of which the Romanian state, through the Ministry of Energy, holds 20.7 percent and 23.7 percent 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 percent stake in OMV Petrom, and the remaining 4.5 percent are held by other foreign investors. Of the total shares of OMV Petrom, 28.1 percent represents the free float on the Bucharest Stock Exchange.
OMV Petrom is one of the largest contributors to the state budget, with around 44 billion euro in taxes and dividends paid between 2005 and 2024. During the same period, the company invested approximately 20 billion euro.
Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007 and 2024, the company has allocated around 190 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.