EIB Commits €450 Million to Austria’s Massive Green Hydrogen Facility

Construction is already in progress at the Lower Austria site, with the facility slated to begin commercial operations by the end of 2027. The funding covers nearly 75% of the estimated €600 million project cost. At its core, the plant will feature a 140-megawatt electrolyser running exclusively on renewable electricity, capable of producing 23,000 tonnes of green hydrogen annually.

Once finished, this hydrogen will travel through a 22-kilometre pipeline directly to the Schwechat refinery. By replacing fossil-fuel-derived hydrogen, OMV anticipates a reduction of 150,000 tonnes of carbon dioxide emissions each year—roughly 10% of the refinery's total direct output. This initiative anchors OMV’s broader Strategy 2030, a roadmap aimed at achieving net-zero emissions by 2050 while scaling up the production of sustainable aviation fuels.

EIB Vice-President Karl Nehammer highlighted the plant's strategic importance, noting that it bolsters European energy security while weaning industrial processes off fossil fuel dependence. The facility is expected to rank among the five largest green hydrogen plants in Europe, serving as a blueprint for decarbonizing heavy industry through clean technology.