OMV Petrom and Enery have entered into a strategic partnership to develop a major solar power project near Byala Slatina, close to Sofia, Bulgaria. Under the agreement, OMV Petrom will acquire a 50 percent stake in Dunav Solar Plant—the company managing the Gabare solar project—from Enery Element.
The planned Gabare solar facility will have an installed capacity of approximately 400 MW and could include a battery energy storage system of up to 600 MWh. Once operational, it is expected to generate enough electricity to supply around 150,000 households in Bulgaria each year.
The transaction is set to be completed in the second half of 2025, pending fulfillment of all necessary conditions. OMV Petrom views this project as a key step in expanding its presence in Bulgaria and supporting the regional energy transition. The company stresses the importance of integrating renewable energy with natural gas to achieve emissions reductions while maintaining energy reliability.
As part of the agreement, OMV Petrom will secure half of the plant’s electricity output through a long-term power purchase agreement, providing a stable revenue stream for the project. Enery highlighted the partnership as a model of how large-scale collaboration can accelerate the shift toward cleaner energy, combining industrial capacity with predictable income sources.
The Gabare plant will utilize solar tracking technology to follow the sun’s path and optimize energy production. With necessary permits and grid connection approvals already obtained, a final investment decision is expected by the end of 2025. The facility is projected to begin operations in 2027.
OMV Petrom and Enery plan to invest roughly 200 million euros in the project by 2027, with part of the funding to be secured through external financing. Both companies praised the close cooperation between their teams and advisors that helped make the partnership a reality.