OMV, Austria’s integrated energy and chemicals group, and Masdar, a United Arab Emirates state-owned renewable energy company, have signed a binding agreement to establish a joint venture for a 140 megawatt (MW) green hydrogen electrolyser plant in Bruck an der Leitha, Austria.
The facility will be one of Europe’s largest. It is going to support the decarbonisation of OMV’s Schwechat refinery and is set to become operational in 2027. The construction began in September 2025. The joint venture will be majority-owned by OMV, with Masdar holding a 49 per cent stake. OMV will procure renewable electricity and own the green hydrogen produced. The company already operates a 10 MW electrolyser at Schwechat.
The partnership builds on a Letter of Intent signed in April and paves the way for future collaboration in green hydrogen, synthetic sustainable aviation fuels and chemicals in the UAE and Central and Northern Europe. The deal is expected to close in early 2026, subject to final documentation, shareholder and regulatory approvals.
“The UAE has a longstanding commitment to working with our partners to accelerate the global energy systems transformation,” said Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar. “This joint venture unites Masdar’s two decades of renewable energy leadership with OMV’s industrial capability, paving the way for future commercial opportunities across Europe. Today’s agreement also underscores the deep and growing collaboration between the UAE and Austria in powering growth for the information age.”
