OMV Petrom, an oil and gas company, is intensifying its efforts towards decarbonization by initiating projects for the establishment of two green hydrogen production units at its Petrobrazi refinery. The company has secured financing agreements totalling €50 million through Romania’s National Recovery and Resilience Plan for the procurement of electrolyzers. The units are projected to have a combined capacity of 55 MW.
As Romania strives to allocate grants and low-interest loans from the European Union’s funds for the energy sector within tight deadlines, fossil fuel enterprises face dual pressure. They are required to adhere to increasingly stringent environmental regulations, account for carbon dioxide emission costs, and adhere to ambitious decarbonization targets. OMV Petrom, a subsidiary of Austria-based OMV, is actively responding to these challenges.
The company, which also manages an extensive network of service stations, commenced a substantial investment initiative in renewable energy more than two years ago. In its most recent update, OMV Petrom disclosed that it has finalized two financing agreements through the National Recovery and Resilience Plan (NRRP or PNRR in Romanian).
As reported by Balkan Green Energy News, under the approval of the ministry of energy, a total of €50 million has been allocated for the establishment of two green hydrogen production facilities at the Petrobrazi refinery, with capacities of 20 MW and 35 MW respectively. The overall investment estimation for these projects stands at €140 million.
