Business Forum • 30 September, 2025 at 3:02 PM
Oil major OMV Petrom has announced the completion of its acquisition of a 50% stake in the Gabare photovoltaic project, which is being developed by Enery in Bulgaria.
The Gabare project is designed to have an estimated capacity of 400 MW, with an estimated annual production of 0.6 TWh, positioning it as one of the largest solar developments in the country.
As part of the investment, OMV Petrom will also acquire 50% of the electricity generated by the solar park through a long-term Power Purchase Agreement (PPA).
OMV Petrom and Enery plan to invest approximately €200 million in the project by 2027, which includes external financing.
The partners are also considering the development of a battery energy storage system with a capacity of up to 600 MWh to improve grid flexibility and stability.
The final investment decision is scheduled for Q1 2026, with commercial operation estimated to begin in 2027.