Austrian energy and chemicals major OMV and Masdar – Abu Dhabi Future Energy Company – have signed a binding agreement to form a joint venture for the financing, construction, and operation of a 140 MW green hydrogen plant in Bruck an der Leitha, Austria, reports Balkan Green Energy News.
The project, which began construction in September, is expected to be one of Europe’s largest green hydrogen production facilities and is slated to begin operations in 2027. It marks a major step in OMV’s plan to reduce emissions at its Schwechat refinery.
Under the agreement, OMV will hold a majority stake in the joint venture, while Masdar will own 49 percent. The collaboration brings together OMV’s expertise in fuels and chemicals with Masdar’s experience in clean energy project development and financing.
The companies said they would also work together on green hydrogen, synthetic sustainable aviation fuel (e-SAF), and synthetic chemicals projects in both the UAE and Central and Northern Europe.
OMV, which already operates a 10 MW green hydrogen electrolyzer in Schwechat, will procure renewable electricity for the new facility and own the hydrogen produced at Bruck an der Leitha, located near the borders of Hungary and Slovakia.
The joint venture is expected to be formally established in early 2026, subject to final documentation, shareholder, and regulatory approvals.
The agreement was signed during the ADIPEC conference in Abu Dhabi, in the presence of UAE Minister of Industry and Advanced Technology Sultan Ahmed Al Jaber, Austrian Minister of Economy, Energy and Tourism Wolfgang Hattmannsdorfer, OMV CEO Alfred Stern, and Masdar CEO Mohamed Jameel Al Ramahi.
Hattmannsdorfer said the collaboration between OMV and Masdar represents one of the largest direct investments in Austria in recent years.
“This project strengthens Austria’s leadership in the hydrogen sector,” he said. “Our vision is to make Austria Europe’s leading hub for hydrogen.”
Masdar CEO Al Ramahi said the partnership combines the strengths of both companies to drive the energy transition.
“By merging Masdar’s global clean energy experience with OMV’s industrial expertise, we aim to help decarbonize industries that are difficult to electrify,” he said.
Once completed, the plant will play a key role in advancing Austria’s hydrogen economy and accelerating Europe’s transition toward cleaner energy.
