OMV Petrom, the largest integrated energy company in South-Eastern Europe, commissioned its first photovoltaic park. The electricity will be used internally, within the Exploration and Production division.
The park includes almost 1,000 photovoltaic panels, which were installed on an area of 5,500sqm, the equivalent of a football field, in the locality of Icoana, Olt County. They will produce over 4,600 MWh of green energy throughout their entire lifecycle, estimated at 13 years.
The performance of the installation is high, of 84%. By replacing the conventional power source, carbon dioxide emissions will be reduced by over 1,200 tons throughout the lifecycle of the panels.
“This project is a first for us and is part of the energy efficiency program, through which we aim to reduce our environmental impact. We will continue developing such projects that support our objective of decarbonizing operations,” said Chris Veit, member of OMV Petrom’s Executive Board, responsible for Exploration & Production.
Starting with 2010, OMV Petrom has invested approximately EUR 72 million in projects that supply electricity or electric and thermal energy for production activities. Currently, about 65% of the power needs of exploration and production activities is generated internally. The medium-term goal is to ensure the power needs exclusively from own sources.
According to OMV Petrom Strategy 2030: “To provide customers with a range of lower carbon energy options on the longer term, OMV Petrom will invest in renewable power and biofuels production. The company will put in function more than 1 GW of renewable power capacity in Romania by 2030. Also, the company plans to exceed 15% biofuel in total fuel production in 2030, with 150 kt/year of cellulosic ethanol from straw and 450 kt/year of sustainable aviation fuel and renewable diesel.”
OMV Petrom’s strategic ambition for 2030 is to “Lead the energy transition in South-East Europe, capitalizing on opportunities in our emerging markets”, with the objective to secure sustainable long-term economic growth and high cash flow generation, while ensuring investments and attractive shareholder returns.