EIB Makes Largest-Ever Austrian Energy Sector Investment to Support OMV Hydrogen Project

EIB Makes Largest-Ever Austrian Energy Sector Investment to Support OMV Hydrogen Project

(IN BRIEF) The European Investment Bank is providing €450 million to OMV to build a large-scale green hydrogen production facility in Bruck an der Leitha, Lower Austria. The loan is the EIB’s largest-ever financing in Austria’s energy sector and covers nearly three-quarters of the project’s estimated €600 million investment cost. The plant will feature a 140 MW electrolyser powered by renewable electricity and is expected to produce up to 23,000 tonnes of renewable hydrogen annually once operational by the end of 2027. The hydrogen will be transported through a 22-kilometre pipeline to OMV’s Schwechat refinery, where it will replace fossil-based hydrogen in refining processes. The project is expected to cut direct CO₂ emissions at the Schwechat refinery by up to 150,000 tonnes per year, around 10% of current direct emissions. It will also support future production of sustainable aviation fuels and other low-carbon products, while contributing to OMV’s Strategy 2030 and net-zero pathway by 2050.

(PRESS RELEASE) LUXEMBOURG, 13-Jul-2026 — /EuropaWire/ — The European Investment Bank is providing €450 million in financing to OMV for the construction of a large-scale green hydrogen production facility in Bruck an der Leitha, Lower Austria.

The financing represents the EIB’s largest-ever investment in Austria’s energy sector and will support OMV’s efforts to decarbonise industrial operations, strengthen Europe’s clean technology value chain and improve energy security.

The project has an estimated investment cost of €600 million, with the EIB loan covering nearly three-quarters of the total. Construction of the green hydrogen plant is already underway, with operations expected to begin by the end of 2027.

The facility will include a 140 MW electrolyser powered by renewable electricity. Once operational, it is expected to produce up to 23,000 tonnes of renewable hydrogen per year, making it the largest plant of its kind in Austria and one of the five largest in Europe.

The renewable hydrogen produced at Bruck an der Leitha will be transported through a 22-kilometre pipeline to OMV’s Schwechat refinery. There, it will progressively replace fossil-based hydrogen used in refining processes.

The project is expected to reduce direct CO₂ emissions at the Schwechat refinery by up to 150,000 tonnes per year, equivalent to around 10% of the refinery’s current direct emissions. The investment will also create a foundation for the future production of sustainable aviation fuels and other low-carbon products.

Karl Nehammer, Vice-President of the European Investment Bank, said green hydrogen is an important part of Europe’s transition toward a competitive, climate-neutral and secure energy system.

“By supporting green hydrogen production at industrial scale, we are strengthening Europe’s competitiveness, reinforcing our energy security and helping decarbonise refining by replacing fossil-based hydrogen with renewable hydrogen,” said Nehammer.

He added that the investment also supports the future production of sustainable aviation fuels and contributes to the EU’s climate and energy security objectives.

The financing reinforces the EIB’s role as the EU Climate Bank by supporting infrastructure that accelerates the deployment of renewable hydrogen at industrial scale. The project also advances the EIB’s TechEU initiative by strengthening Europe’s electrolysis value chain and contributes to the objectives of the European Green Deal and REPowerEU.

Reinhard Florey, Deputy Chairman of the Executive Board and Chief Financial Officer of OMV Aktiengesellschaft, said the EIB’s loan commitment signals confidence in OMV’s transformation strategy and its ability to deliver large-scale industrial decarbonisation projects.

“This investment is of strategic importance for both Austria and Europe,” said Florey. “By producing green hydrogen in Austria, we are strengthening Europe’s energy value chain, enhancing energy security, and contributing to a more sustainable energy system.”

He added that the construction of one of Europe’s largest green hydrogen plants marks a major milestone in the decarbonisation of OMV’s industrial processes and supports the company’s ambition to help shape the energy transition in Austria and across Europe.

Under its Strategy 2030, OMV is expanding renewable hydrogen and renewable fuels production as part of its pathway toward net-zero emissions by 2050. The Bruck an der Leitha project is expected to become a central element of that strategy by replacing fossil-based hydrogen with renewable hydrogen in refinery operations.

EIB Group  

The European Investment Bank (ElB) Group is the financing arm of the European Union, owned by the 27 Member States, and one of the largest multilateral development banks in the world. In 2025, the EIB Group signed €100 billion of new financing and advisory services for over 870 high-impact projects in eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, territorial cohesion, agriculture and the bioeconomy, social infrastructure, strong global partnerships and the savings and investment union. Beyond long-term loans for large infrastructures, the EIB Group crowds-in private investment for high-risk innovative projects and businesses, with a growing role in Europe’s markets for venture debt, venture capital, guarantees and securitisations.

The European Investment Fund (EIF) is the subsidiary of the EIB Group specialised in providing guarantees and equity to improve access to finance for small and medium size businesses and startups across Europe. Acting as an anchor investor, through its extensive network of partnering banks and investment funds, the EIF mobilizes private investment and nurtures the ecosystem of venture capital funds to support innovative European entrepreneurs.

In 2023, the EIF together with six member states (France, Germany, Italy, Spain, Belgium and the Netherlands) launched the European Tech Champions Initiative, a fund of funds to scale-up innovative startups. This initiative has already enabled the creation of 12 European venture capital mega-funds and scaled up 38 companies, including 11 unicorns (with more than €1 billion in capital).

Photos of the EIB Group’s spokespeople and headquarters, logo files and video B-roll for media use are available here.

Media Contact:

Press Office

+352 43791

SOURCE: European Investment Bank