Austria’s integrated energy, fuels and chemicals company OMV and UAE-based clean energy giant Masdar have inked a pact to build and operate one of Europe’s largest green hydrogen plants in Austria.
The joint venture (JV) for setting up and operating the 140 MW green hydrogen electrolyzer plant in Bruck an der Leitha, Austria, was signed at ADIPEC in Abu Dhabi.
The pact aims at power the decarbonisation of OMV’s Schwechat refinery and reinforces Austria’s ambition to become a leading European hydrogen hub, as per a release.
Construction of the facility began in September 2025 and it is expected to be operational in 2027, the release stated.
The JV between OMV and Masdar will be majority-owned by OMV with Masdar owning 49 percent.
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 (e-SAF) and synthetic chemicals production in both the UAE and Central and Northern Europe, following the signing of the Letter of Intent in April earlier this year, as per the release.
The JV is anticipated to close in early 2026, conditional on completion of final documentation, shareholders’ approvals and regulatory approvals, officials said.
The binding agreement was signed in the presence of Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar, Wolfgang Hattmannsdorfer, Austria’s Federal Minister of Economy, Energy and Tourism, Alfred Stern, Chairman of Executive Board and CEO of OMV and Md Jameel Al Ramahi, CEO of Masdar.
Hailing the pact, 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.”
Wolfgang Hattmannsdorfer added, "We can only secure jobs and prosperity in Austria if we stand firmly for open trade and build successful international partnerships."
"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."
