Photo: OMV
OMV and Masdar are setting up a joint venture for the development and operation of the fifth-largest electrolyzer plant in Europe. The facility is already under construction in Austria. The UAE-based company would be a minority shareholder, with 49%.
Austrian integrated energy, fuels and chemicals company OMV and Masdar – Abu Dhabi Future Energy Co. signed a binding agreement to establish a joint venture for the financing, construction and operation of the 140 MW green hydrogen electrolyzer plant in Bruck an der Leitha, Austria.
It would be one of Europe’s largest green hydrogen production facilities, marking a major step in OMV’s commitment to decarbonizing its Schwechat refinery, the update adds. Construction of the facility began in September. The companies expect it to become operational in 2027.
OMV to procure electricity, own green hydrogen produced in Bruck an der Leitha
The JV will be majority-owned by OMV, with the clean energy giant from the United Arab Emirates holding 49%. The partnership combines the Austrian company’s integrated fuels and chemicals business and Masdar’s commercial, financial and technical expertise.
The two companies said they would explore opportunities for green hydrogen, e-SAF and synthetic chemicals
OMV, which is already running a 10 MW electrolyzer plant for green hydrogen in Schwechat, will procure the renewable electricity for production and own the green hydrogen produced in the new facility, the announcement reads. Bruck an der Leitha is near the borders with Hungary and Slovakia.
The partnership lays the foundation for strategic collaboration to explore green hydrogen, synthetic sustainable aviation fuels (e-SAF) and synthetic chemicals production in both the UAE and Central and Northern Europe, following the signing of a letter of intent in April. The joint venture would be set up early 2026, conditional on completion of final documentation, shareholders’ approvals and regulatory approvals.
Hattmannsdorfer: Austria aims to become Europe’s leading hydrogen hub
The binding agreement was signed at the ADIPEC conference and exhibition in Abu Dhabi. The ceremony was held in the presence of UAE’s Minister of Industry and Advanced Technology and Chairman of Masdar Sultan Ahmed Al Jaber, Austria’s Federal Minister of Economy, Energy and Tourism Wolfgang Hattmannsdorfer, Chairman of the Executive Board and Chief Executive Officer of OMV Alfred Stern and CEO of Masdar Mohamed Jameel Al Ramahi.
“We can only secure jobs and prosperity in Austria if we stand firmly for open trade and build successful international partnerships. Together with strategic partnership between OMV and Masdar, we have brought one of the largest direct investments of recent years to Austria. OMV and Masdar are jointly constructing the fifth-largest hydrogen plant in Europe – right here in Austria. This project further strengthens Austria’s leading role in a key technology of the future. Our goal is clear: Austria aims to become Europe’s leading hydrogen hub,” Minister Wolfgang Hattmannsdorfer stated.
By combining Masdar’s global expertise in developing and scaling clean energy projects with OMV’s industrial and technological capabilities, the joint venture will accelerate the decarbonization of hard-to-abate industries, according to Masdar’s CEO Al Ramahi.
Be the first one to comment on this article.