BAKU, Azerbaijan, November 7. OMV, Austria’s integrated energy, fuels and chemicals company, and Masdar, a global clean energy leader, have signed a binding agreement to create a joint venture for the financing, construction, and operation of a 140-megawatt green hydrogen electrolyzer plant in Bruck an der Leitha, Austria, Trend reports via Masdar.
The project, among the largest of its kind in Europe, marks a major milestone in OMV’s strategy to decarbonize its Schwechat refinery and drive the transition toward a low-carbon energy system. Construction began in September 2025, and the plant is expected to start operations in 2027.
Under the terms of the agreement, OMV will hold a majority stake in the joint venture, with Masdar owning 49 percent. The partnership brings together OMV’s expertise in integrated fuels and chemicals with Masdar’s global experience in developing, financing, and operating renewable energy projects.
OMV, which already operates a 10 MW electrolyzer for green hydrogen in Schwechat, will supply renewable electricity to power the facility and will own the green hydrogen produced.
The transaction is expected to close in early 2026, pending completion of final documentation, shareholders’ consent, and regulatory approvals.