OMV Petrom, the largest integrated energy producer in Southeast Europe, announces the signing of two financing contracts through PNRR for the construction of two green hydrogen production capacities with a total capacity of 55 MW at the Petrobrazi refinery, says a press release by the company.
The contracts were signed with the Ministry of Energy for a maximum financing value of 50 million euros; the value of the total investment is about 140 million euros. The financing was obtained following the resumption in July 2023 of the competitive procedure for projects to support investments in green hydrogen, initially launched in 2022.
“Through the 2030 Strategy, we are committed to supporting the energy transition in Romania and in the region, with investments of around 11 billion euros until the end of this decade, of which around 35% will support projects with emissionslow and zero carbon. We have taken important steps in photovoltaic and electro-mobility projects, and with this project we are adding hydrogen to our portfolio of projects with low carbon content,” said Christina Verchere, CEO of OMV Petrom.
Radu Caprau, member of the OMV Petrom Directorate, responsible for the Refining and Marketing activity stated in his turn: “We are proud to be among the first producers of green hydrogen in Romania. Green hydrogen, produced from renewable energy sources, represents a viable solution for a future with low carbon emissions. By developing these projects at Petrobrazi, we are taking important steps towards a sustainable refining activity.”
The projects aim at the construction of two water electrolysis installations, of 35 MW and 20 MW within the Petrobrazi refinery. The entire process will be powered by renewable energy, therefore without carbon emissions, allowing the hydrogen obtained to be classified as green hydrogen.
The annual amount of green hydrogen that will be produced within the two projects was estimated at around 8 kilotons. The integration of green hydrogen in the process of obtaining green fuels, such as sustainable fuel for aviation and biodiesel, will determine a reduction of at least 70% of CO2 emissions compared to conventional fuels. Currently, the projects are in the design phase, with the objective of the final investment decision in 2024.