OMV has secured a €450 million loan from the European Investment Bank (‘EIB’) to help finance a large-scale green hydrogen production facility in Bruck an der Leitha in Lower Austria.
The EIB said the loan covers nearly three-quarters of the project’s projected €600 million investment cost and represents its largest-ever investment in Austria’s energy sector.
OMV said the plant is under construction and is expected to begin operations by the end of 2027.
The facility will feature a 140MW electrolyser powered by renewable electricity.
Once operational, the plant will produce up to 23,000 tonnes of renewable hydrogen annually.
Renewable hydrogen from the facility will be transported through a 22-kilometre pipeline to OMV’s Schwechat refinery, where it will progressively replace fossil-based hydrogen used in refining processes.
The investment is expected to reduce the refinery’s direct CO₂ emissions by up to 150,000 tonnes annually.
“Green hydrogen is a cornerstone of Europe’s transition to a competitive, climate-neutral and secure energy system,” said EIB vice-president Karl Nehammer.
“By supporting green hydrogen production at industrial scale, we are strengthening Europe’s competitiveness, reinforcing our energy security and helping decarbonise refining by replacing fossil-based hydrogen with renewable hydrogen.”
“This investment also lays the foundation for the future production of sustainable aviation fuels, supporting the EU’s climate and energy security objectives.”
“The European Investment Bank’s loan commitment is a strong signal of confidence in OMV’s transformation strategy and our ability to deliver large-scale projects that drive industrial decarbonisation,” said deputy chairman of the executive board of OMV Aktiengesellschaft and chief financial officer Reinhard Florey.
“This investment is of strategic importance for both Austria and Europe.”
“The construction of one of Europe’s largest green hydrogen plants marks a major milestone in the decarbonisation of our industrial processes.”
