The contracts were signed with the Romanian Ministry of Energy for a maximum funding amount of EUR50 million; the total investment is approximately EUR140 million.
The funding was obtained following the reopening, in July 2023, of the competitive call for projects supporting investments in green hydrogen, initially launched in 2022.
“Through our Strategy 2030, we committed to support the energy transition in Romania and the region, with investments of around EUR11 billion by the end of this decade, of which approximately 35% will support low- and zero-carbon projects. We have made great strides in photovoltaic and electro-mobility projects, and with this project we are adding hydrogen to our portfolio of low carbon projects,” said Christina Verchere, CEO of OMV Petrom.
“We are proud to be among the first green hydrogen producers in Romania. Green hydrogen, produced from renewable energy sources, is a viable solution for a low-carbon future. By developing these projects at Petrobrazi, we are taking important steps towards sustainable refining activity.” said Radu Caprau, member of OMV Petrom’s Executive Board, responsible for Refining and Marketing.
The projects consist of building two water electrolysis plants of 35 MW and 20 MW at the Petrobrazi refinery. The entire production process will be powered by renewable energy, therefore carbon-free, allowing the hydrogen obtained 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.
Integrating green hydrogen into the production process of green fuels, such as sustainable aviation fuel and biodiesel, will lead to a CO2 emission reduction of minimum 70% compared to conventional fuels.
The projects are currently in the engineering phase aiming to reach final investment decision in 2024.
OMV Petrom is the largest integrated energy producer in Southeastern Europe, with an annual Group hydrocarbon production of approximately 41 million boe in 2023. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high-efficiency gas-fired power plant. The Group is present on the oil products retail market in Romania and neighbouring countries through approximately 780 filling stations under two brands – OMV and Petrom.