OMV Petrom, the largest integrated energy company in South-Eastern Europe, celebrates 10 years since the commissioning of Brazi power plant. The plant produced a total quantity of over 32 TWh of electricity during this period.
Franck Neel, Member of the OMV Petrom Directorate, responsible for the Gas and Power activity: 'We are proud that the Brazi plant has been for ten years a reliable producer for the industry and households in Romania. At the same time, our power plant is a benchmark for the security of electricity supply, given the fast start-up time, flexibility and high efficiency. We believe that, for Romania's energy transition, natural gas is the best partner for renewable energy.'
The Brazi power plant is a combined cycle power plant that uses natural gas to produce electricity for the national grid, using an advanced technology that allows it to stop and restart in a very short period. Due to to this technology, the power plant has an important role in providing ancillary system services and balancing the National Grid System, compensating with power when renewable sources are intermittent. This advanced technology allows the power plant to operate in high efficiency conditions of 57%, compared to the average of 30% recorded by the power plants in Romania.
OMV Petrom invested EUR 530 million in the Brazi power plant, which is the largest private greenfield investment in Romania. The construction of the Brazi plant began in 2009, and the commercial production started in August 2012.
The Brazi combined cycle power plant has an installed capacity of 860 MW and has three turbines - two gas turbines, with a capacity of 290 MW each and a steam turbine, with a capacity of 310 MW. Natural gas is used for the first two turbines, and the thermal energy contained in the exhaust gas is then transferred to the two recovery boilers, which produce steam for the third turbine. Through this process, the Brazi power plant has the capacity to generate up to 11% of Romania's electricity production or to ensure the entire consumption of Bucharest.
About OMV Petrom
OMV Petrom is the largest integrated energy company in South-Eastern Europe, with an annual Group hydrocarbon production of approximately 47 million boe in 2021. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high-efficiency power plant. The Group is present on the oil products retail market in Romania and neighboring countries through more than 780 filling stations under two brands - OMV and Petrom.
OMV Petrom shares are traded on the Bucharest Stock Exchange and the London Stock Exchange. OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51% stake in OMV Petrom. The Romanian State, through the Ministry of Energy, holds 20.6% of OMV Petrom shares, and 28.4% is is owned by natural and legal persons.
OMV Petrom is the largest contributor to the state budget, with approximately 35 billion euro in taxes and dividends paid between 2005 and 2021. During the same period, the company invested approximately 17 billion euro.
Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007 and 2021, the company has allocated over 80 million euro to develop communities in Romania, focusing on environmental protection, education, health, and local development.
On July 29th, 2020, OMV Petrom announced its support for the recommendations issued by the Task Force on Climate-related Financial Disclosures (TCFD) regarding risks and opportunities on climate change.
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