OMV Petrom has taken the final investment decision on the Gabare Solar Project, one of Bulgaria’s largest integrated renewable energy developments. The project combines large-scale solar generation with a Battery Energy Storage System, supporting grid flexibility and energy security. With planned investments of around €300 million, the project represents a major step in expanding renewable energy infrastructure in Southeast Europe.
Key Overview
- OMV Petrom has approved the final investment decision for the Gabare Solar Project
- The project includes a 415MW photovoltaic solar plant
- A 600MWh battery energy storage system will be integrated into the project
- Total investment is estimated at approximately €300 million
- Around €100 million will be allocated to battery storage infrastructure
- The project is expected to begin electricity production in 2028
- OMV Petrom and Enery each hold a 50% stake in the development
Gabare Solar Project Secures FID for €300M Energy Hub
OMV Petrom has approved the final investment decision (FID) for the Gabare Solar Project, one of the largest solar projects with battery storage in Bulgaria, paving the way for a major investment in solar generation and energy storage infrastructure.
Located in the Byala Slatina region, the project will combine a large-scale photovoltaic power plant with an advanced battery storage facility, helping strengthen grid stability while expanding clean energy generation capacity in Southeast Europe.
The development reflects OMV Petrom’s broader strategy of building a more diversified and flexible energy portfolio that combines renewable power generation with energy storage solutions.
Major Solar and Storage Development
The Gabare Solar Project will feature approximately 415MWp of installed solar generation capacity alongside a battery energy storage system capable of storing around 600MWh of electricity.
The integrated design allows excess solar energy generated during peak production periods to be stored and dispatched when demand rises or renewable generation falls, improving grid reliability and operational flexibility.
According to OMV Petrom, the battery component represents a significant step toward modernizing regional energy infrastructure and supporting the growing role of renewable energy sources in the electricity mix.
Franck Neel, Member of the OMV Petrom Executive Board responsible for Gas & Power, said the project marks an important milestone for the company’s energy transition strategy.
“Our first battery storage project marks an important step in the development of a modern energy portfolio, where renewables and flexibility solutions complement each other,” he said.
€300 Million Renewable Energy Investment
The project will require an estimated Renewable Energy Investment of around EUR 300 million.
Approximately EUR 100 million of that total will be dedicated to the battery energy storage system, highlighting the growing importance of storage technologies in supporting renewable energy deployment.
The project will be developed through Dunav Solar Plant OOD, a joint venture equally owned by OMV Petrom and renewable energy developer Enery.
Funding will be provided through a combination of partner contributions and external financing sources.
The scale of the investment places Gabare among the most significant renewable energy projects currently under development in Bulgaria.
Context is everything. Stay ahead of shifting trends with today’s market updates, and uncover emerging opportunities using the Serrari Group Market Index and Marketplace. Then, take control of your own financial future by exploring our Money & Life Reset Transformation Blueprint ™ to build stronger habits, create better systems, and design a path toward lasting wealth.
Construction and Production Timeline
The project has already secured all required permits and has reached the ready-to-build stage.
Construction activities are expected to begin once final construction contracts are signed, allowing development work to move forward in the coming months.
Initial electricity production is currently targeted for 2028.
A power purchase agreement (PPA) has already been secured, under which OMV Petrom will acquire 50% of the solar park’s future electricity production.
The agreement provides long-term revenue visibility for the project while supporting OMV Petrom’s renewable energy supply strategy.
Strengthening Solar Energy in Bulgaria
The development represents a major boost for Solar Energy Bulgaria, which continues to expand its renewable generation capacity as the country works toward its energy transition goals.
By combining utility-scale solar generation with large-scale battery storage, the project addresses one of the key challenges associated with renewable energy: balancing intermittent generation with electricity demand.
The integrated Energy Storage Project is expected to improve grid resilience while helping reduce reliance on conventional power sources during peak demand periods.
Outlook
The final investment decision for the Gabare Solar Project marks a significant milestone for both OMV Petrom and Bulgaria’s renewable energy sector. With 415MW of solar capacity, a 600MWh battery storage system, and investments of approximately €300 million, the project is positioned to become one of the country’s largest clean energy developments.
As construction progresses toward the planned 2028 launch, Gabare is expected to strengthen regional energy security, support grid flexibility, and accelerate the transition toward a more sustainable and resilient energy system across Southeast Europe. The project will also help integrate greater volumes of renewable electricity into the grid, reduce dependence on conventional power sources, and serve as a model for future large-scale solar and energy storage developments across the region.
Q1: What is the Gabare Solar Project?
The Gabare Solar Project is a large-scale renewable energy development in Bulgaria that combines a 415MW photovoltaic solar plant with a 600MWh battery energy storage system. It is being developed jointly by OMV Petrom and Enery.
Q2: How much will be invested in the Gabare Solar Project?
The project involves an estimated investment of approximately €300 million, with around €100 million specifically allocated to the battery energy storage component.
Q3: When will the Gabare Solar Project begin producing electricity?
The project has already secured the necessary permits and is ready for construction. First electricity production is expected to begin in 2028, following the completion of construction and commissioning activities.
Q4: Why is battery storage important for the Gabare Solar Project?
The 600MWh battery energy storage system will allow excess solar energy to be stored and used when demand is higher or solar generation is lower. This improves grid stability, enhances energy security, and supports the integration of more renewable energy into Bulgaria’s electricity system.
Sources: energy-pedia, Renewables Now, Chemxplore, Stiripesurse
Your financial future isn’t something you wait for—it’s something you build.
The real question is: when do you begin?
Move beyond simply staying informed.
Navigate the markets with clarity—track trends through the Serrari Group Market Index, uncover opportunities in the Serrari Marketplace, and build practical knowledge with our Curated Wealth Builder Platform.
Stay connected to what truly matters.
Get daily insights on macro trends and financial movements across Kenya, Africa, and global markets—delivered through the Serrari Newsletter.
Growth opens doors.
Advance your career through professional programs including ACCA, HESI A2, ATI TEAS 7 , HESI EXIT , NCLEX – RN and NCLEX – PN, Financial Literacy!🌟—designed to move you forward with confidence.
See where money is flowing—clearly and in real time.
Track Money Market Funds, Treasury Bills, Treasury Bonds, Green Bonds, and Fixed Deposits, alongside global and African indexes, key economic indicators, and the evolving Crypto and stablecoin landscape—all within Serrari’s Market Index.
