OMV Petrom has signed Romania’s largest-ever physical power purchase agreement (PPA), securing 62% of the electricity generated by DRI’s Glodeni I and Glodeni II solar projects and 50% of the output from the Vacaresti solar project. The total combined capacity of these renewable energy projects reaches 239 MW, with deliveries set to begin in January 2026 and January 2027, respectively. The agreement marks a major milestone in the country’s energy market, ensuring 100 GWh of annual electricity supply over an 8.5-year period.

The deal is structured under the European Federation of Energy Traders (EFET) template contract, adapted to Romania’s legal and regulatory framework. CMS, an international law firm specializing in energy and infrastructure, advised DRI, the renewables arm of Ukrainian private energy company DTEK, on the transaction. CMS played a key role in structuring the agreement, developing risk mitigation strategies, and coordinating the scheduling and delivery of electricity from three geographically distinct solar projects.

This transaction highlights the increasing liquidity and maturity of Romania’s renewable energy market, as more large-scale projects secure long-term financing through PPAs. The complexity of the agreement required the careful balancing of regulatory and commercial considerations while aligning with financing arrangements. CMS provided guidance on structuring the deal, interface risks, security arrangements, and cross-chain risk mitigation, ensuring a smooth execution.

Varinia Radu, head of Energy and Climate Change at CMS Romania, emphasized the significance of the deal, stating that it ranks among the most complex PPAs in Central and Eastern Europe, underscoring Romania’s growing role in the regional renewable energy landscape. The agreement sets a precedent for future transactions, demonstrating the viability of large-scale PPAs in attracting investment and supporting energy transition goals.

With this acquisition, OMV Petrom strengthens its commitment to renewable energy, diversifying its portfolio and reinforcing its long-term strategy of integrating sustainable energy solutions into its operations. The deal represents a crucial step in ensuring a stable and predictable supply of green electricity for industrial and commercial consumers in Romania and beyond.

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