Austrian refiner OMV has secured a €450m ($515m) loan from the European Investment Bank (EIB) for its under-construction 140MW green hydrogen project.
The loan through EIB’s TechEU initiatives covers almost 75% of capital costs for the €600m ($686m) facility in Bruck an der Leitha, which is expected to be online by 2027 to displace grey hydrogen used in OMV’s Schwechat refinery.
Using Siemens Energy PEM electrolysers, it will have a capacity of up to 23,000 tonnes per year for transport to the refinery via a 22km pipeline.
Having taken final investment decision (FID) in May 2025, the project has also been awarded €123m ($140m) in decade-long per kilogramme subsidies from Austria’s green hydrogen auction.
The plant is being jointly constructed with UAE state-owned renewables major Masdar, which took a 49% stake in the project last November.
OMV’s Deputy Chairman and CFO Reinhard Florey said the loan was a “strong signal of confidence” in the refiner’s ability to deliver large-scale decarbonisation projects.
The 140MW project comes after OMV commissioned a 10MW green hydrogen plant at the Schwechat refinery in early 2025, after the company pivoted away from operating hydrogen refuelling infrastructure.
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