Romania’s EU recovery plan to co-finance OMV Petrom’s green hydrogen production projects

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Romanian energy company OMV Petrom announced today (26 February) that it has signed two financing contracts for the construction of two production facilities for green hydrogen with a total capacity of 55 megawatts (MW) at the Petrobrazi refinery.

The contracts were signed with Romania‘s Ministry of Energy for a maximum funding amount of 50 million euros, financed under the country’s EU recovery and resilience plan (RRP).

“Through our Strategy 2030, we committed to support the energy transition in Romania and the region, with investments of around 11 billion euros by the end of this decade, of which approximately 35 per cent 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,” said Christina Verchere, CEO of OMV Petrom.

The total investment of the project is around 140 million euros, OMV Petrom noted in a press release.

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

“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 Căprău, a 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 would be powered by renewables. Around eight kilotons of green hydrogen are estimated to be produced annually by both projects.

The projects are currently in the engineering phase, aiming to reach a final investment decision in 2024, OMV Petrom said.

Updating EU’s Climate and Energy Policies: Romania

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