OMV Petrom, Southeastern Europe’s premier integrated energy company, is excited to announce its partnership with the Romanian Ministry of Energy through two financing agreements secured via the National Recovery and Resilience Plan (NRRP). These agreements mark a significant step forward in the construction of two green hydrogen production units at the Petrobrazi refinery, boasting a combined capacity of 55 MW. With a maximum funding contribution of EUR 50 million from the NRRP and a total project investment nearing EUR 140 million, these initiatives underscore OMV Petrom’s commitment to advancing Romania’s green energy landscape.
This financial backing comes in the wake of the competitive call for green hydrogen investment projects, which was reissued in July 2023 after its initial launch the previous year.
OMV Petrom CEO, Christina Verchere, shared her vision: “Aligned with our Strategy 2030, we are dedicated to facilitating the energy transition in Romania and beyond, planning investments up to EUR 11 billion by the decade’s end. Approximately 35% of this investment will bolster low- and zero-carbon initiatives. Having already made significant progress in renewables and electro-mobility, we’re now excited to incorporate hydrogen into our green project portfolio.”
Radu Căprău, an executive board member responsible for Refining and Marketing, expressed pride in OMV Petrom’s pioneering role in Romania’s green hydrogen production. “Leveraging renewable energy sources for green hydrogen production positions us as a frontrunner in fostering a low-carbon future. The Petrobrazi projects are pivotal in transitioning towards more sustainable refining processes,” Căprău stated.
The initiative entails the development of two water electrolysis facilities with capacities of 35 MW and 20 MW, respectively, at the Petrobrazi site. Powered entirely by renewable energy sources, this operation will enable the produced hydrogen to be classified as green hydrogen, contributing significantly to the decarbonization efforts.
With an anticipated annual green hydrogen production of approximately 8 kilotons, these projects will play a crucial role in integrating green hydrogen into the manufacturing of eco-friendly fuels, including sustainable aviation fuel and biodiesel. This integration is expected to achieve a minimum 70% reduction in CO2 emissions compared to traditional fuels.
Currently in the engineering stage, these ambitious projects are on track for a final investment decision in 2024, setting a precedent for green energy innovation in Romania.
