Romania’s Petrom Plans To Invest In Renewable Energy

Romania’s dominant oil company Petrom (SNP.RO) will “certainly” invest in renewable energy production projects and is currently analyzing some, said Monday Razvan Niculescu, head of the company’s public relations department.

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"We will certainly invest in renewable energy, we are currently analyzing several projects, but we don't know when," Niculescu told a news conference.

Petrom plans to build a thermal power plant in an investment estimated at EUR500 million.

Petrom, owned by Austria's OMV, is the largest corporation in Romania and the largest gas and oil producer in Southeastern Europe.

At GMT1202, Petrom shares were traded on the Bucharest Stock Exchange at RON0.295 per unit, down 0.38% on the day.

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