The facility will support industrial decarbonisation, Europe’s clean technology leadership and a more secure energy system.
The loan represents the EIB’s largest-ever investment in Austria’s energy sector and covers nearly three-quarters of the projected 600 million euro investment cost. The green hydrogen plant is already under construction and is expected to commence operations by the end of 2027.
The plant will feature a 140 MW electrolyser powered by renewable electricity. Once operational, it will produce up to 23,000 tonnes of renewable hydrogen annually, making it the largest facility of its kind in Austria and among the five largest in Europe.
Renewable hydrogen 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 - around 10 percent of current direct emissions - and create the basis for future production of sustainable aviation fuels and other low-carbon products.
“Green hydrogen is a cornerstone of Europe’s transition to a competitive, climate-neutral and secure energy system” said EIB Vice-President Karl Nehammer during the site visit. “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 operation reinforces the EIB’s role as the EU Climate Bank by financing strategic infrastructure that accelerates the deployment of renewable hydrogen at industrial scale. It also advances the EIB’s TechEU initiative by strengthening Europe’s electrolysis value chain and contributes to the objectives of the European Green Deal and REPowerEU.
“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,” added 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. By producing green hydrogen in Austria, we are strengthening Europe’s energy value chain, enhancing energy security, and contributing to a more sustainable energy system. The construction of one of Europe’s largest green hydrogen plants marks a major milestone in the decarbonisation of our industrial processes. Once operational, the facility will make a significant contribution to reducing CO₂ emissions at our Schwechat refinery and underscores our ambition to actively shape the energy transition in Austria and across Europe.”
Under its Strategy 2030, OMV is expanding renewable hydrogen and renewable fuels production as part of its pathway towards net-zero emissions by 2050. The EIB-financed project in Bruck an der Leitha is expected to become a cornerstone of this transition by replacing fossil-based hydrogen with renewable hydrogen in refinery operations.
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