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2024

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03

OMV Petrom secures funding for two green hydrogen production projects at Petrobrazi refinery

Author:

Hydrogentechworld


 

OMV Petrom, the largest integrated energy producer in Southeastern Europe, has signed two financing contracts through the EU-supported National Recovery and Resilience Plan (NRRP) for the construction of two green hydrogen production facilities at the Petrobrazi refinery in Romania.

 

The projects consist of building two water electrolysis plants, with capacities of 35 MW and 20 MW. The entire production process will be powered by renewable energy, ensuring the operation is carbon-free and allowing the hydrogen produced to be classified as green hydrogen.

 

The annual amount of green hydrogen to be produced by the two projects has been estimated at approximately 8 kilotons. 

 

By integrating green hydrogen into the production process of green fuels, such as sustainable aviation fuel and biodiesel, a CO₂ emission reduction of at least 70% will be achieved compared to the use of fossil-based fuels.

 

Currently, the projects are in the engineering phase, with a goal to reach a final investment decision by 2024.

 

The contracts were signed with the Romanian Ministry of Energy for a maximum funding amount of €50 million; the total investment is approximately €140 million.

 

This funding was secured following the reopening of the competitive call for projects that support investments in green hydrogen in July 2023, an initiative initially launched in 2022.

 

Christina Verchere, CEO of OMV Petrom, commented: “Through our Strategy 2030, we committed to support the energy transition in Romania and the region, with investments of around €11 billion by the end of this decade, of which approximately 35% will support low- and zero-carbon projects. We have made great strides in renewables  and electro-mobility projects, and with this project we are adding hydrogen to our portfolio of low carbon projects.”

 

Source:Hydrogentechworld

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