UAE energy firm Masdar is raising its profile in Europe after buying a 49% stake in Austria’s largest green hydrogen project, according to agency reports.
Austrian integrated energy and petrochemicals company OMV is building a 140MW electrolyser which is expected to produce up to 23,000 tonnes of green hydrogen annually, once it opens at the end of 2027, if all goes to plan. The hydrogen will be used to decarbonise the nearby OMV Schwechat refinery by replacing hydrogen currently derived from natural gas.
The investment shows how global partnerships are trying to deliver green hydrogen. Masdar, which has been working on green hydrogen since 2008, aims to be a leading producer by 2030.
Austria, targeting climate neutrality by 2040, is striving to install 1GW of electrolysis capacity by 2030 and to replace 80% of grey (fossil-based) hydrogen in industry by the same year.
The strategy also involves a mandatory green gas quota…
