Romanian Times reported that OMV's Petrom in Romania is investing EUR 100 million in wind power production. Petrom announced it has acquired the company SC Wind Power Park SRL, which owns a fully authorized wind power generation project, in Dobrogea with a designated capacity of 45 MW. Petrom will construct and operate the wind power plant, which is estimated to enter production mid 2011.

Ms Mariana Gheorghe CEO of Petrom said that "Through this project we intend to capitalize the flexibility of the Brazi gas fired power plant. With a portfolio which includes both gas fired capacities and renewable capacities, we benefit from the strengths of both technologies."

Petrom also said that it evaluated the possibility to expand the capacity of the project to 54 MW. Construction is estimated to begin in the course of this year and is estimated to be finalized in mid 2011.

Mr Gerald Kappes executive board member of Petrom, responsible for Gas, Power and Chemicals, said that "For this wind power generation project we will invest around EUR 100 million, including both acquisition and development."

Petrom is the largest Romanian oil and gas group, which explores, produces, refines and markets such products. Petrom has 550 filling stations in Romania and an international network of 268 filling stations located in Moldova, Bulgaria and Serbia.

OMV Aktiengesellschaft, the leading energy group in Central and Southeastern Europe holds a 51.01% share in Petrom. Ministry of Economy holds 20.64% of Petrom shares, Property Fund SA holds 20.11%, the European Bank for Reconstruction and Development 2.03% and 6.21% is free float on Bucharest Stock Exchange.

(Sourced from www.romaniantimes.at)