OMV Petrom announces the signing of two PNRR financing contracts for the construction of two green hydrogen production facilities with a total capacity of 55 MW at the Petrobrazi refinery.
Contracts were signed with the Ministry of Energy for a maximum funding amount of 50 million euros; The total cost of investments is about 140 million euros.
The funding came after the resumption in July 2023 of the tender procedure for projects to support investments in green hydrogen, which was originally launched in 2022.
Cristina Vercere, CEO of OMV Petrom: “Through the 2030 Strategy, we commit to supporting the energy transition in Romania and the region with investments of around 11 billion euros by the end of this decade, of which approximately 35% will go to support projects. with low emissions and zero carbon. We have made important progress in renewable energy and e-mobility projects, and with this project we are adding hydrogen to our portfolio of low-carbon projects.”
Radu Keprau, OMV Petrom board member responsible for processing and marketing: “We are proud to be one of the first producers of green hydrogen in Romania. Green hydrogen produced from renewable energy sources is a viable solution for a low-carbon future. By developing these projects in Petrobraza, we are taking important steps towards a sustainable oil refining activity.”
The projects are aimed at the construction of two water electrolysis plants with a capacity of 35 MW and 20 MW at the Petrobrazi refinery.
The entire process will take place at the expense of renewable energy, therefore without carbon emissions, which will allow the resulting hydrogen to be classified as green hydrogen.
The annual amount of green hydrogen that will be produced by the two projects is estimated at about 8 kilotons.
Integrating clean hydrogen into clean fuels such as sustainable jet fuel and biodiesel will reduce CO2 emissions by at least 70% compared to conventional fuels.
Currently, the projects are at the development stage, the final investment decision is planned to be made in 2024.
Source: Hot News
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