OMV Petrom has reached a final investment decision on the Gabare solar project in Bulgaria, enabling construction of a 415 MW solar power plant with battery storage in the Vratsa region. The company said the decision paves the way for the start of project works following the next development steps.
Dunav Solar Plant joint venture and hybrid configuration
The project is being developed through Dunav Solar Plant, a joint venture between OMV Petrom and Austrian renewable energy company Enery. It is located near Byala Slatina in northwestern Bulgaria. The scheme will also include a battery energy storage system with around 600 MWh capacity.
Capital cost and expected commissioning timeline
Total investment for the Gabare project is estimated at approximately €300 million, including around €100 million for the battery storage component. The partners expect the plant to begin producing electricity in 2028. This timing is linked to completion of construction and commissioning activities.
Permits, EPC contracting, and financing structure
OMV Petrom stated that all major permits have already been secured for the project. With permitting in place, development is ready to move into the construction phase. On-site works are scheduled to start after selection and awarding of the engineering, procurement and construction (EPC) contract.
The project financing will combine shareholder contributions with external financing. OMV Petrom also confirmed that a long-term power purchase agreement (PPA) has been signed for around 50% of expected electricity output. The PPA provides early revenue visibility for part of the generation profile.
Status within Bulgaria’s solar and storage pipeline
The Gabare project is described as one of the largest renewable energy investments in Bulgaria. It expands OMV Petrom’s renewable energy portfolio across South East Europe. The development adds to the country’s growing market for solar generation paired with battery storage.
