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OMV Petrom signs financing for two green H2 production projects at Petrobrazi refinery

OMV Petrom announced the signing of two financing contracts through the National Recovery and Resilience Plan (NRRP), for the construction of two production facilities for green H2 with a total capacity of 55 MW at the Petrobrazi refinery. The contracts were signed with the Romanian Ministry of Energy for a maximum funding amount of €50 MM; the total investment is approximately €140 MM.

The funding was obtained following the reopening, in July 2023, of the competitive call for projects supporting investments in green H2, initially launched in 2022. 

Christina Verchere, OMV Petrom CEO said, "Through our Strategy 2030, we committed to support the energy transition in Romania and the region, with investments of around €11 B 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 H2 to our portfolio of low carbon projects."

Radu Căprău, member of OMV Petrom's Executive Board, responsible for Refining and Marketing said, "We are proud to be among the first green H2 producers in Romania. Green H2, 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."   

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 H2 obtained to be classified as green H2.

The annual amount of green H2 to be produced by the two projects has been estimated at approximately 8 kilotons. Integrating green H2 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 in the engineering phase aiming to reach final investment decision in 2024.