Petrom acquires 45 MW wind farm from Wind Power Park

Oil and gas producer Petrom has acquired 100 percent of Wind Power Park, which owns a fully licensed 45 MW wind power generation project in Dobrogea. Petrom will construct and operate the wind power plant, which is estimated to enter production mid 2011.

“Through this project we intend to capitalize on the flexibility of the Brazi gas-fired power plant. In the medium term, by capitalizing on the gas and power convergence and developing renewable energy projects, Petrom will make the transition from a pure oil and gas company to an energy player,” said Mariana Gheorghe, Petrom CEO.

The wind farm will use Vestas-V90 turbines, for which the acquisition contracts are in place. Considering the high potential of the area, Petrom believes it can expand the capacity of the project to 54 MW. According to company data, EUR 100 million will be invested in the wind power generation project, including both acquisition and development.

DLA Piper provided consultancy to the oil company, through Marian Dinu, country managing partner, assisted by Ramona Volciuc-Ionescu, senior associate. The law firm has advised Petrom on EUR 1.2 billion of projects since 2008 when it opened its local bureau.

The resulting green certificates allocated for power production at the wind park will be used mainly to cover the demand resulting from the company’s internal electricity consumption (approximately 1 TW/h/year), while the remaining certificates will be sold on the Romanian market according to existing laws and regulations.

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Dana Ciuraru