Sunday, July 14, 2024
HomeTransportOMV Petrom confirms EU funding for regional development of ultra-fast EV recharging...

OMV Petrom confirms EU funding for regional development of ultra-fast EV recharging points

Romanian energy company OMV Petrom has received a confirmation of EU funding for the company’s project to install more than 400 ultra-fast recharging points for electric vehicles (EV) in Romania, Slovakia and Hungary until November 2025 (27 July).

The group of companies formed by OMV Petrom Marketing (OPM), OMV Hungária Ásványolj/OMV Hungária (OMV HU) and OMV Slovensko (OMV SK) have received approval for a European funding contract with the European Executive Agency for Climate, Infrastructure and the Environment (CINEA) for the ultra-fast charging infrastructure project. The financing contract was signed by CINEA and OPM, as a coordinator of the application.

“Through the 2030 Strategy, we have undertaken to actively contribute to the energy transition, in Romania and the region. We have started to develop solutions with low emissions and zero carbon, for which we propose to allocate about 35 per cent of the estimated investments until 2030 of about 11 billion euros. The development of these solutions opens opportunities for economic growth in Romania and in the region, by attracting European funds,” said Christina Verchere, CEO of OMV Petrom.

The project aims to install more than 400 ultra-fast recharging points, each with an installed power of 150 kilowatts (kW), by the end of 2025. 328 points will be installed in 80 locations in Romania, 52 will be installed in 11 locations in Slovakia, and 28 will be installed in 7 locations in Hungary.

The ultra-fast recharging points will enable EVs to be charged in around 10-15 minutes, depending on the capacity of the vehicle, for an operating range of 200 km.

The project’s total investment is estimated at around 40 million euros, of which, approximately 15 million euros are provided through the EU’s Connecting Europe Facility (CEF), almost 5 million euros of the total amount represent bank credits from the Banca Comercială Română, while the rest of the financing comes from the company’s own sources.

In 2022, OMV Petrom declared an ambition to become the first energy company in the region with a network of power stations in four countries in South-East Europe.

Sign up for our newsletters

    Monthly newsletter – Delivering the most important energy stories of the month selected by our Editor-in-chief
    Weekly Oil&Gas roundup - All major news about the oil and gas industry, LNG developments, the upscaling of new gases and related EU regulations arriving in your mailbox every Monday.
    Weekly Renewables&Climate roundup - All major news about investments in renewable energy sources, environment protection, green hydrogen and new innovative ways to tackle the climate crisis arriving in your mailbox every Tuesday.

    Most Popular