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DRI Signs Landmark Solar PPA

DRI Signs Landmark Solar PPA with OMV Petrom in Romania

DRI, the EU renewables arm of DTEK, has secured a significant milestone by signing Romania’s largest physical solar Power Purchase Agreement (PPA) with OMV Petrom S.A., Southeastern Europe’s largest integrated energy producer.

Key Details of the PPA

  • Duration: The agreement spans 8.5 years, commencing in January 2026.
  • Energy Offtake: Approximately 100GWh per year will be delivered under a fixed-rate agreement, including Guarantees of Origin.
  • Project Involvement:
    • 2026: OMV Petrom will acquire 62% of the energy output from DRI’s Glodeni 1 and Glodeni 2 solar plants (combined capacity: 113MWp).
    • 2027: OMV Petrom will purchase 50% of the energy produced by DRI’s Vacaresti 126MWp solar project, with construction starting in 2025.

Strategic Impact

John Stuart, CEO of DRI, emphasized the importance of the agreement, stating:
“Securing long-term corporate offtake agreements is essential to renewable energy growth, demonstrating that clean energy is a competitive alternative. This PPA accelerates both Romania’s energy transition and OMV Petrom’s strategic goals.”

DRI’s Renewable Portfolio in Romania

  • DRI already operates 299MW in Romania, including the first wind farm built in the country in the past decade.
  • By 2030, the company aims to develop 1GW of renewable energy and battery storage projects in the region.

This agreement not only bolsters Romania’s commitment to renewable energy but also aligns with OMV Petrom’s and DRI’s long-term sustainability goals.

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