Romania's top oil and gas group OMV Petrom said on Wednesday that it has invested 1.3 million euro ($1.41 million) in installing photovoltaic (PV) panels in 40 filling stations in the country.
"Our plan is to increase the number of filling stations equipped with photovoltaic panels to 78 by the end of the year," OMV Petrom executive board member responsible for downstream oil, Radu Caprau, said, as quoted in a company statement.
By installing photovoltaic panels, more than 10% of the electricity needs of the filling stations is supplied from solar energy, the statement added.
They produce more than 30,000 kWh of green energy per year in each filling station, which is the equivalent to an annual average consumption of eight households per year. Thanks to the energy produced by the photovoltaic panels, each filling station will contribute to the reduction of the carbon footprint by 8.3 tonnes of carbon dioxide emissions each year, according to the statement.
Last year, measures taken by the company generated a reduction by 22% of the carbon emissions compared to 2010.
OMV Petrom targets 27% reduction by 2025.
OMV Petrom is the largest energy company in Southeast Europe, with an annual group hydrocarbon production of 55.4 million boe in 2019 and a refining capacity of 4.5 million tons annually. The group is present on the oil products retail market in Romania and neighboring countries through 800 filling stations, at the end of March 2020, under two brands – OMV and Petrom.
Austria-based OMV Aktiengesellschaft holds a 51.011% stake in OMV Petrom. The Romanian state, through the energy minister, owns 20.639% of OMV Petrom, Fondul Proprietatea holds 9.998%, and 18.352% is the free float on the Bucharest Stock Exchange and the London Stock Exchange.
OMV Petrom's shares were trading 7.67% lower to 0.3370 lei ($0.08/ 0.07 euro) on Wednesday on the Bucharest Stock Exchange as at 1140 CET.
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