OMV Petrom has completed the acquisition of a 50% stake in the Gabare photovoltaic project in Bulgaria, which has an estimated capacity of 400 MW. Announced in June 2025, the transaction marks a strategic step in the company’s regional expansion and reinforces its renewable energy portfolio.

Located in the Byala Slatina region, Gabare is expected to generate 0.6 TWh of electricity annually, making it one of the largest solar projects in Bulgaria. The park will use tracker systems to optimize energy output. OMV Petrom will also sign a long-term Power Purchase Agreement (PPA) to acquire 50% of the electricity generated.

The partners are considering the development of a battery storage system of up to 600 MWh to enhance grid flexibility. The total investment is expected to reach EUR 200 million by 2027, including external financing. Final investment decision is scheduled for Q1 2026, with operations expected to begin in 2027.

“We are expanding our regional presence and contributing to the energy transition through large-scale solar investments,” said Franck Neel, Member of the Executive Board of OMV Petrom.

This is OMV Petrom’s first major solar project in Bulgaria, where the company already operates 93 filling stations, trades natural gas, and is involved in offshore exploration in the Black Sea.