DRI, the EU renewables arm of Ukrainian energy company DTEK, has finalized the largest physical solar power purchase agreement (PPA) in Romania with OMV Petrom S.A., the leading integrated energy producer in Southeastern Europe. This landmark agreement spans 8.5 years, covering approximately 100 GWh per year at a fixed rate, including the sale of physical electricity and Guarantees of Origin.
Agreement Details
The PPA is set to commence in January 2026, with OMV Petrom expected to purchase 62% of the energy generated by DRI’s Glodeni 1 and Glodeni 2 solar plants. These two projects boast a combined capacity of 113 MWp. Additionally, starting in January 2027, OMV Petrom will acquire 50% of the production from DRI’s Vacaresti solar project, which has a capacity of 126 MWp and is scheduled to begin construction in 2025.
Strategic Importance
John Stuart, CEO of DRI, stated, “Securing long-term corporate offtake agreements is essential to facilitate renewable energy growth, and it demonstrates that clean energy offers a competitive alternative. With this agreement, we help to accelerate Romania’s energy transition and support OMV Petrom’s strategic goals.”
DRI currently has a portfolio of 299 MW in Romania, including the first wind farm constructed in the country in a decade. The company has ambitious plans to deliver 1 GW of renewable energy and battery storage projects in Romania by 2030.
