OMV and Masdar have signed a binding agreement to jointly develop and operate a 140MW green hydrogen plant in Austria.
The new facility, located in Bruck an der Leitha, is set to become one of Europe’s largest green hydrogen production sites.
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This marks a major step in OMV’s focus on decarbonising its Schwechat refinery and speeding up the energy transformation.
The project will be executed through a joint venture (JV), which is majority-owned by OMV, with Masdar holding the remaining 49% stake.
The partnership leverages OMV’s leadership in integrated fuels and chemicals and Masdar’s expertise in clean energy project development, financing, and operation.
Construction of the new facility began in September 2025, with commercial operations targeted for 2027.
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By GlobalDataUnited Arab Emirates (UAE) Minister of Industry and Advanced Technology and Masdar chair Sultan Ahmed Al Jaber said: “The UAE has a longstanding commitment to working with our partners to accelerate the global energy systems transformation.
“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.”
OMV is already operating a 10MW electrolyser for green hydrogen in Schwechat and will procure the renewable electricity required for the new plant.
OMV will also own the green hydrogen produced at the facility.
The companies plan to explore opportunities in green hydrogen, synthetic sustainable aviation fuels, and synthetic chemicals production in both the UAE and Central and Northern Europe.
This follows the letter of intent signed by the two companies in April 2024.
The JV is expected to close in early 2026, subject to final documentation, shareholders’ approvals, and regulatory clearances.
Masdar CEO Mohamed Jameel Al Ramahi said: “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 decarbonisation of hard-to-abate industries and advance the development of a sustainable hydrogen economy in Europe.”
By 2030, Masdar plans to become a global producer of green hydrogen and its derivatives, focusing on commercial project development and building scalable platforms across key markets worldwide.
Last month, Masdar was awarded contracts by Saudi Power Procurement Company for two solar photovoltaic projects in Saudi Arabia, with a total capacity of 2GW.
