Oil and gas company OMV Petrom plans to buy a 50% stake in Electrocentrale Borzesti, which owns the largest wind power portfolio in Romania and will fully acquire Renovatio Asset Management, the owner of Romania’s leading electric vehicle charging network.

Electrocentrale Borzesti holds 950 MW of wind and 50 MW of photovoltaic projects, which will be further developed, built and operated in partnership with the other shareholder, RNV Infrastructure, OMV Petrom said in a press release.

By acquiring Renovatio Asset Management, OMV Petrom will own more than 400 already-built EV charging points, with plans to increase their number to approximately 650 by 2026.

OMV Petrom and Renovatio plan to invest around 1.3 billion euros in renewable energy sources in Romania by 2027, including project financing. OMV Petrom’s participation will amount to up to 350 million euros.