EIB Backs OMV’s 140 MW Green Hydrogen Plant in Austria with €450 Million Loan

The European Investment Bank (EIB) has approved a €450 million loan to support the construction of OMV’s 140 MW green hydrogen production plant in Austria, a project aimed at significantly reducing carbon emissions at the company’s Schwechat refinery and advancing industrial decarbonisation.

The facility, currently under construction in Bruck an der Leitha, Lower Austria, represents a total investment of €600 million and is scheduled to begin operations by the end of 2027.

23,000 Tonnes of Green Hydrogen Annually

Powered by renewable electricity, the plant will produce up to 23,000 tonnes of green hydrogen per year, replacing fossil-based hydrogen currently used in refining processes.

According to OMV, the project will reduce carbon emissions by approximately 150,000 tonnes annually, equivalent to around 10% of the Schwechat refinery’s current direct emissions.

The green hydrogen produced will be used internally to manufacture lower-carbon fuels and chemical products.

Supporting Sustainable Fuels Production

The project also supports OMV’s broader Strategy 2030, which targets around 900 kilotonnes of renewable fuels and sustainable chemical feedstock production capacity by 2030.

Alongside the new Austrian facility, OMV’s clean hydrogen portfolio includes:

• An operational 10 MW green hydrogen plant at the Schwechat refinery.
• A co-processing facility producing renewable fuels.
• 20 MW and 35 MW green hydrogen projects under development in Romania through OMV Petrom.
• A Sustainable Aviation Fuel (SAF) and Hydrotreated Vegetable Oil (HVO) plant under construction at the Petrobrazi refinery in Romania.

These investments form part of OMV’s ambition to achieve net-zero emissions by 2050.

EIB Highlights Industrial Decarbonisation

The European Investment Bank said the investment will strengthen Europe’s energy security while supporting the transition to climate-neutral industry.

The project is expected to reduce dependence on fossil-based hydrogen used in refining and create the foundation for future production of sustainable aviation fuels (SAF).

Executive Comments

OMV Deputy Chairman and Chief Financial Officer Reinhard Florey described the financing as a strong endorsement of the company’s transformation strategy, stating that the project will enable greater use of renewable energy within its refining operations while supporting the production of more sustainable fuels and chemicals.

EIB Vice-President Karl Nehammer said green hydrogen is a key pillar of Europe’s transition towards a competitive, secure and climate-neutral energy system, adding that the project will strengthen industrial competitiveness while supporting the EU’s climate and energy security objectives.

Key Highlights

• Financing: €450 million loan from the European Investment Bank
• Total project value: €600 million
• Developer: OMV
• Location: Bruck an der Leitha, Austria
• Capacity: 140 MW
• Production: Up to 23,000 tonnes of green hydrogen annually
• Start-up: End of 2027
• Emission reduction: Approximately 150,000 tonnes of CO₂ per year
• Contribution: Around 10% reduction in direct emissions at OMV’s Schwechat refinery
• Long-term goal: Support OMV’s net-zero emissions target by 2050