Energy: OMV loses Abu Dhabi partner for hydrogen project
Masdar from Abu Dhabi is unexpectedly pulling out of OMV's hydrogen project near Vienna. The Austrian energy group now wants to continue the €600 million facility on its own.
OMV's planned hydrogen project in Austria will proceed without its partner Masdar from Abu Dhabi, which has unexpectedly withdrawn from the venture. The project, an electrolysis plant in Bruck an der Leitha, had been announced in November with Masdar as a partner, but the company has now pulled out. OMV says it will continue with the project alone, which is valued at 600 million euros and has secured 450 million euros in funding from the European Investment Bank. Austria has also offered to contribute to the project.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- OMV: Abu Dhabi partner withdraws from hydrogen project derstandard.at
