The European Investment Bank has announced its largest-ever investment in Austria’s energy sector, providing a €450 million ($513 million) loan to OMV for a landmark green hydrogen facility. Situated in Bruck an der Leitha, Lower Austria, the project represents a massive step forward for industrial decarbonisation and European energy security. The funding covers nearly three-quarters of the total €600 million investment cost.
Construction is already underway on the facility, which is slated to begin operations by the end of 2027. The plant will feature a powerful 140 MW electrolyser driven by renewable electricity, enabling it to produce up to 23,000 tonnes of renewable hydrogen each year. This output establishes it as the largest facility of its kind in Austria and places it among the top five largest across Europe.
The renewable hydrogen will travel through a newly built 22-kilometre pipeline directly to OMV’s Schwechat refinery. By replacing fossil-based hydrogen in refining processes, the project is anticipated to cut the refinery’s direct carbon dioxide emissions by up to 150,000 tonnes annually, which equates to roughly 10% of its current direct emissions. Furthermore, this infrastructure will lay the foundation for the future production of sustainable aviation fuels and other low-carbon products.
During a site visit, EIB Vice-President Karl Nehammer emphasised that green hydrogen is a cornerstone of Europe’s transition to a competitive, climate-neutral, and secure energy system. He noted that supporting production at this scale strengthens European competitiveness and reinforces energy security.
Reinhard Florey, Deputy Chairman of the Executive Board and CFO of OMV, welcomed the loan as a strong signal of confidence in the company’s transformation strategy, highlighting its significance for both Austria and the wider European energy value chain as OMV targets net-zero emissions by 2050.
