OMV Petrom, Southeast Europe’s largest integrated energy producer, has taken the final investment decision (FID) for the Gabare renewable energy project in Bulgaria, marking one of the region’s largest combined solar and battery storage developments.
Located in the Byala Slatina region, the project will feature a photovoltaic (PV) plant with an installed capacity of approximately 415 MWp, integrated with a battery energy storage system (BESS) capable of storing around 600 MWh of electricity. The initiative is designed to strengthen grid flexibility and support large-scale renewable integration.
According to the company, the total investment in the project is estimated at around EUR 300 million, including approximately EUR 100 million allocated specifically to the battery storage component. Financing will be structured through a mix of partner contributions and external funding.
The Gabare project will be developed through Dunav Solar Plant OOD, a joint venture in which OMV Petrom holds a 50% stake, alongside renewable energy developer Enery, which also owns 50%. The project has already secured the required permits and is currently in a ready-to-build stage, with construction expected to begin following the signing of the engineering, procurement, and construction (EPC) contract. First power generation is targeted for 2028.
A power purchase agreement (PPA) has also been secured, under which OMV Petrom will offtake 50% of the solar park’s future output.
Commenting on the milestone, Franck Neel, Member of the OMV Petrom Executive Board responsible for Gas & Power, said the company’s first battery storage project represents a key step in building a modern energy portfolio where renewable generation is paired with flexibility solutions. He also noted that the investment strengthens the company’s regional expansion beyond Romania into Bulgaria.
OMV Petrom has maintained a long-standing presence in Bulgaria’s energy sector, operating across the value chain from fuel retail to natural gas marketing and offshore exploration in the Black Sea. The company currently runs a network of 93 fuel stations in the country and began supplying natural gas to non-household customers in 2024 through its local subsidiary.
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