OMV Petrom, the largest integrated energy company in Southeast Europe, announces the signing of a financing contract through PNRR for the construction of a hydrogen production capacity through water electrolysis at the Petrobrazi refinery. The contract was signed with the Ministry of Energy, for a maximum value of about 39 million euro, the total investment being estimated at about 74 million euro.
“We believe that Romania has a significant potential for the development of green energy projects, and the funds available to finance these projects open opportunities for the country’s economic growth. Through the 2030 Strategy, we are committed to supporting the energy transition in Romania and the region, with investments of around 11 billion euros until the end of this decade, of which around 35% will support projects with low and zero carbon emissions,” said Christina Verchere, CEO of OMV Petrom.
“Green hydrogen opens up opportunities for a low-carbon economy. It will have an important role for the decarbonization of refineries and for sustainable transport, whether we are talking about road, rail or air, being one of the solutions for the mobility of the future. We estimate that the demand for hydrogen will increase significantly in Romania, especially in the next decade. We believe that OMV Petrom has the opportunity to become the main integrated player on the hydrogen market in Romania,” added Radu Căprău, member of the OMV Petrom Directorate, responsible for the Refining and Marketing activity.
The project involves putting into operation, within the Petrobrazi refinery, a capacity of 20 MW for the production of hydrogen obtained by electrolysis of water. The entire process will be powered by renewable energy. This means that no CO2 emissions will be generated from the use of energy during water electrolysis, when the separation of oxygen and hydrogen molecules takes place.
The annual amount of green hydrogen to be produced has been estimated at over 2,600 tons annually. The integration of the green hydrogen produced will result in a minimum 70% reduction in CO2 emissions along the entire sustainable fuel production value chain compared to conventional fuels.
In the next period, the company will start the public tender for the purchase of the electrolyser, with the final investment decision to be made in 2024. Completion of the works is estimated for 2025.