The European Investment Bank has agreed to lend €450 million to Austrian energy, fuels and chemicals group OMV to build a large green hydrogen plant in Bruck an der Leitha, in Lower Austria.
The EIB said in a statement that the loan will cover nearly three-quarters of the project’s estimated €600 million cost, making it the bank’s largest-ever financing in Austria’s energy sector.
Construction is already under way and the plant is expected to start operating by the end of 2027.
The facility will include a 140 MW electrolyser — equipment that uses electricity to split water into hydrogen and oxygen — powered by renewable electricity.
Once running, it is expected to produce up to 23,000 tonnes of renewable hydrogen a year, making it the largest such plant in Austria and one of the five biggest in Europe.
Pipeline link to Schwechat refinery
OMV plans to send the hydrogen through a 22-kilometre pipeline to its Schwechat refinery, where it will gradually replace fossil-based hydrogen used in refining processes, the EIB said.
The switch is expected to cut the refinery’s direct CO₂ emissions by up to 150,000 tonnes a year, or around 10% of its current direct emissions.
The project is being financed under the EIB’s TechEU initiative.
“Green hydrogen is a cornerstone of Europe’s transition to a competitive, climate-neutral and secure energy system,” EIB Vice-President Karl Nehammer said during a site visit.
OMV Chief Financial Officer Reinhard Florey said the loan commitment was “a strong signal of confidence” in the company’s transformation strategy.
