Austrian energy and chemical firm OMV has secured a €450 million loan from the European Investment Bank to support the construction of one of Europe’s largest green hydrogen plants in Bruck an der Leitha. With a total investment of €600 million and a capacity of 140 MW, the facility is set to launch by late 2027, producing up to 23,000 tons of green hydrogen annually and cutting around 150,000 tons of carbon emissions per year — equivalent to 10% of the onsite refinery’s direct emissions. The project will strengthen the sustainability of OMV’s fuel and chemical output via local green hydrogen supply and serves as a key step in the company’s 2030 strategy to shift from fossil fuels to renewables and achieve net zero by 2050. As a vital decarbonization solution for hard-to-abate industrial and transport sectors, green hydrogen requires large-scale infrastructure and technological investment, and the EIB stressed that supporting its industrial production bolsters Europe’s energy security, market competitiveness and low-carbon transition.
Source: https://www.esgtoday.com/omv-secures-e450-million-eib-backing-to-build-one-of-europes-largest-green-hydrogen-projects/