Business Forum • 25 October, 2024 at 10:02 AM
Deloitte Romania assisted OMV Petrom, the largest integrated energy producer in South-Eastern Europe, in the acquisition of several photovoltaic park projects to be developed in Teleorman county from the Danish company Jantzen Renewables. The transaction, signed in June 2023, was recently completed, following approval from the Commission for the Examination of Foreign Direct Investments.
With an installed capacity of approximately 710 MW, the photovoltaic parks acquired by OMV Petrom are among the most important projects of this type in South-Eastern Europe. They are currently in the “ready-to-build” stage and have already received access to the national electricity transmission network, and will supply electricity starting from the second half of 2026, according to the current plan.
A multidisciplinary team from Deloitte Romania provided the financial and tax due diligence and valuation services. Radu Dumitrescu, Partner-in-Charge, Marius Vasilescu, Partner, Vlad Balan, Director, Sorin Rugina, Manager, and Andreea Dobrota, Associate, from the Financial Advisory practice, and Dan Badin, Partner, Laura Bobar, Senior Manager, and Ana Bica, Senior Consultant, from the Tax department, contributed to the success of the project.
“Through this project, our team is proud to have been able to assist once again the leader of the energy sector in our country in finalizing another step in their ambitious and extremely broad transition plan to «green» energy,” said Radu Dumitrescu, Financial Advisory Partner-in-Charge, Deloitte Romania.
OMV Petrom Group had an annual oil and gas production of approximately 41 million boe in 2023. With a refining capacity of 4.5 million tons annually, the group operates an 860 MW high-efficiency natural gas power plant. On the retail petroleum products distribution market, the group is present in Romania and in neighboring countries through approximately 780 gas stations, under the OMV and Petrom brands.
Deloitte provides industry-leading audit and assurance, tax and legal, consulting, financial advisory, and risk advisory services to nearly 90% of the Fortune Global 500 and thousands of private companies. The firm's professionals deliver measurable and lasting results that help reinforce public trust in capital markets, enable clients to transform and thrive, and lead the way toward a stronger economy, a more equitable society and a sustainable world. Building on its 175-plus year history, Deloitte spans more than 150 countries and territories. Its objective is to make an impact that matters through its approximately 460,000 people worldwide.
Deloitte Romania is one of the leading professional services organizations in the country providing, in cooperation with Reff & Associates | Deloitte Legal, services in audit, tax, legal, consulting, financial advisory, risk advisory, business processes as well as technology services and other related services, through 3,200 professionals.