OMV, Masdar sign binding agreement to develop, operate new 140 MW green-hydrogen plant in Austria

Photo: OMV

OMV, Austria’s integrated energy, fuels and chemicals company, and Masdar, a global clean-energy leader, have signed a binding agreement to establish a joint venture for the financing, construction and operation of the 140-megawatt (MW) green-hydrogen electrolyzer plant in Bruck an der Leitha, Austria.   

This landmark project will be one of Europe’s largest green-hydrogen production facilities and marks a major step in OMV’s commitment to decarbonizing its Schwechat refinery and accelerating the energy transformation.  

Construction of the facility began in September and it is expected to be operational in 2027. 

The joint venture between OMV and Masdar will be majority-owned by OMV with Masdar owning 49 percent.  

The partnership combines OMV’s strategic leadership under its integrated fuels-and-chemicals business and Masdar’s commercial, financial and technical expertise in developing and operating clean-energy projects worldwide.  

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.  

The partnership lays the foundation for a future strategic collaboration between OMV and Masdar to explore green hydrogen, synthetic sustainable aviation fuels (eSAF) and synthetic chemicals production in both the United Arab Emirates and Central and Northern Europe, following the signing of the letter of intent in April earlier this year.  

The joint venture is anticipated to close in early 2026, conditional on completion of final documentation and shareholder and regulatory approvals. 

“The UAE has a longstanding commitment to working with our partners to accelerate the global energy-systems transformation,” said Ahmed Al Jaber, the UAE minister of industry and advanced technology and chairman of Masdar. “This joint venture unites Masdar’s two decades of renewable energy leadership with OMV’s industrial capability, paving the way for future commercial opportunities across Europe. Today’s agreement also underscores the deep and growing collaboration between the UAE and Austria in powering growth for the information age.” 

Wolfgang Hattmannsdorfer, Austria’s federal minister of economy, energy and tourism, added, “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. In doing so, we reaffirm our commitment to maintaining a strong, energy-intensive industrial base—to create jobs and secure prosperity for the future.”  

Alfred Stern, chairman of the executive board and CEO of OMV, said, “Green hydrogen is a key element in OMV’s Strategy 2030 for decarbonizing our fuels and chemicals production. Partnering with Masdar to develop one of Europe’s largest green-hydrogen facilities in Austria marks a significant step forward. This joint venture builds upon our existing partnership by uniting deep technological expertise with a shared vision for progressing towards a climate-neutral future. It will be a cornerstone in transforming our operations and accelerating Europe’s energy transition.” 

Masdar CEO Mohamed Jameel Al Ramahi added, “This landmark partnership with OMV marks an important step in expanding Masdar’s green-hydrogen footprint in Europe and strengthening the energy collaboration between the UAE and Austria. By combining Masdar’s global expertise in developing and scaling clean-energy projects with OMV’s strong industrial and technological capabilities, this joint venture will accelerate the decarbonization of hard-to-abate industries and advance the development of a sustainable hydrogen economy in Europe.” 

Masdar is aiming to be a leading producer of green hydrogen and its derivatives globally by 2030, with the company developing and investing in commercial projects and building scalable platforms in key markets around the world.