Located in the Byala Slatina region, the project includes a photovoltaic plant with a capacity of around 415 MWp and a battery storage system (BESS) that can store around 600 MWh.

"Our first battery storage project marks a 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 involves investments of about €300 million, including around €100 million allocated to the energy storage component. The project is to be financed both from the partners' sources and through external funding, and will be developed through Dunav Solar Plant OOD, a company in which OMV Petrom owns 50%, alongside Enery, which holds an equal stake.

The Gabare project already has the necessary permits and is in the ready-to-build stage. Construction will start after the signing of the construction contract, with first production estimated for 2028. A PPA agreement is already in place through which OMV Petrom will acquire 50% of the future production of the solar park.