OMV and Masdar Sign Binding Agreement for 140 MW Green Hydrogen Plant in Austria
OMV and Masdar have signed a binding agreement to form a joint venture to develop and operate a 140 MW green hydrogen electrolyser plant in Austria, aimed at decarbonising OMV’s Schwechat refinery. The plant is expected to be operational in 2027.
November 12, 2025. By Mrinmoy Dey
The project will be one of Europe’s largest green hydrogen production facilities and marks a major step in OMV’s commitment to decarbonising its Schwechat refinery and accelerating the energy transformation, the company said in a statement. Construction of the facility began in September 2025, and it is expected to be operational in 2027.
The JV between OMV and Masdar will be majority-owned by OMV, with Masdar owning 49 percent. The partnership combines OMV’s strategic leadership under its integrated Fuels and Chemicals business and Masdar’s commercial, financial and technical expertise in developing and operating clean energy projects worldwide. OMV, which is already running a 10 MW electrolyser plant for green hydrogen in Schwechat, will procure the renewable electricity for production and own the green hydrogen produced.
The binding agreement was signed at ADIPEC in the presence of Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar, Dr. Wolfgang Hattmannsdorfer, Austria’s Federal Minister of Economy, Energy and Tourism, Dr. Alfred Stern, Chairman of the Executive Board and CEO of OMV and Mohamed Jameel Al Ramahi, CEO of Masdar.
The agreement was formally signed by Martijn van Koten, OMV Member of the Executive Board and Executive Vice President Fuels and Chemicals and Mohammad Abdelqader El Ramahi, Chief Green Hydrogen Officer, Masdar.
Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar, said, “The UAE has a longstanding commitment to working with our partners to accelerate the global energy systems transformation. This joint venture unites Masdar’s two decades of renewable energy leadership with OMV’s industrial capability, paving the way for future commercial opportunities across Europe. Today’s agreement also underscores the deep and growing collaboration between the UAE and Austria in powering growth for the information age.”
Dr. Wolfgang Hattmannsdorfer, Austria’s Federal Minister of Economy, Energy and Tourism, remarked, “We can only secure jobs and prosperity in Austria if we stand firmly for open trade and build successful international partnerships. Together with a strategic partnership between OMV and Masdar, we have brought one of the largest direct investments of recent years to Austria. OMV and Masdar are jointly constructing the fifth-largest hydrogen plant in Europe – right here in Austria. This project further strengthens Austria’s leading role in a key technology of the future. Our goal is clear: Austria aims to become Europe’s leading hydrogen hub."
Dr. Alfred Stern, Chairman of the Executive Board and CEO of OMV, said, “Green hydrogen is a key element in OMV’s Strategy 2030 for decarbonising our fuels and chemicals production. Partnering with Masdar to develop one of Europe’s largest green hydrogen facilities in Austria marks a significant step forward. This joint venture builds upon our existing partnership by uniting deep technological expertise with a shared vision for progressing towards a climate-neutral future. It will be a cornerstone in transforming our operations and accelerating Europe’s energy transition.”
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, remarked, “This landmark partnership with OMV marks an important step in expanding Masdar’s green hydrogen footprint in Europe and strengthening the energy collaboration between the UAE and Austria. By combining Masdar’s global expertise in developing and scaling clean energy projects with OMV’s strong industrial and technological capabilities, this joint venture will accelerate the decarbonisation of hard-to-abate industries and advance the development of a sustainable hydrogen economy in Europe.”
The partnership lays the foundation for a future strategic collaboration between OMV and Masdar to explore green hydrogen, synthetic sustainable aviation fuels (e-SAF) and synthetic chemicals production in both the UAE and Central and Northern Europe, following the signing of the Letter of Intent in April earlier this year. The JV is anticipated to close in early 2026, conditional on completion of final documentation, shareholders’ approvals and regulatory approvals.
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