OMV to Proceed Alone on Austrian Hydrogen Project
Austrian energy group OMV will advance its €600 million hydrogen project without Masdar after the Abu Dhabi firm withdrew. Despite the departure, the 140-megawatt plant remains largely financed and on track for 2027.
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OMV AG will proceed alone with a €600 million ($689 million) hydrogen project in Austria after Masdar abruptly withdrew from the partnership. The exit follows a November agreement where the Abu Dhabi renewable firm was set to provide hundreds of millions in funding. The venture remains backed by a €450 million European Investment Bank loan and pledged public funds.
