Vienna: Masdar, a global clean energy leader, and OMV, Austria's integrated energy, fuels, and chemicals company, have signed a binding agreement to establish a joint venture for the financing, construction, and operation of a 140 MW green hydrogen electrolyser plant in Bruck an der Leitha, Austria. This project is set to be one of Europe's largest green hydrogen production facilities and is a significant step in OMV's efforts to decarbonize its Schwechat refinery.
According to Emirates News Agency, the construction of the facility commenced in September 2025, with an expected operational date in 2027. The joint venture, to be majority-owned by OMV with Masdar holding a 49 percent stake, will leverage OMV's strategic leadership and Masdar's expertise in clean energy projects. OMV, already operating a 10 MW electrolyser for green hydrogen in Schwechat, will supply the renewable electricity necessary for production and will own the green hydrogen produced.
The partnership signifies a future strategic collaboration between OMV and Masdar, focusing on green hydrogen, synthetic sustainable aviation fuels, and synthetic chemicals production in the UAE and Central and Northern Europe. This follows their April agreement to pursue such initiatives.
The joint venture is expected to finalize in early 2026, pending completion of necessary documentation and approvals. The binding agreement was formalized at ADIPEC in the presence of key figures including Dr. Sultan bin Ahmed Al Jaber, Chairman of Masdar, and Dr. Wolfgang Hattmannsdorfer, Austria's Federal Minister of Economy, Energy, and Tourism.
Dr. Sultan bin Ahmed Al Jaber expressed that the venture combines Masdar's renewable energy expertise with OMV's industrial capacity, facilitating commercial opportunities across Europe and strengthening UAE-Austria collaborations. Dr. Wolfgang Hattmannsdorfer emphasized Austria's commitment to becoming a leading hydrogen hub in Europe, highlighting the project's role in securing jobs and prosperity.
Dr. Alfred Stern, CEO of OMV, recognized the importance of green hydrogen in OMV's decarbonization strategy and the significance of the partnership with Masdar. Mohamed Jameel Al Ramahi, CEO of Masdar, noted the venture's role in expanding Masdar's green hydrogen presence in Europe and advancing a sustainable hydrogen economy.
Masdar aims to be a leading global producer of green hydrogen by 2030, focusing on developing commercial projects and scalable platforms in key markets worldwide.