OMV and Masdar have entered into a binding agreement to form a joint venture (JV) company for the financing, development, and operation of a 140 MW green hydrogen electrolyser facility in Bruck an der Leitha, Austria. Masdar will hold a 49 per cent stake, while the remaining share will be with OMV. Construction of the facility commenced in September 2025, and operations are expected to begin in 2027. The transaction is expected to close in early 2026, subject to completion of final documentation, shareholder consent, and regulatory approvals.
The collaboration brings together OMV’s expertise in the integrated fuels and chemicals sector with Masdar’s international expertise in financing, developing, and managing renewable energy projects. Furthermore, it establishes a foundation between the two companies for future cooperation in developing green hydrogen, synthetic sustainable aviation fuels, and synthetic chemicals in both the UAE, and Central and Northern Europe, following the signing of the letter of intent in April 2025.
In October 2025, Masdar was awarded two solar projects with a combined capacity of 2 GW under the sixth round of bidding in Saudi Arabia’s National Renewable Energy Programme. The 1,400 MW Najran and 600 MW Ad Darb projects will be developed on a build-own-operate basis under a 25-year power purchase agreement with the Saudi Power Procurement Company.
