Masdar is acquiring a 49% stake in Austrian energy company OMV’s planned hydrogen plant in Bruck an der Leitha, with OMV retaining 51% and operational control, Austrian Press Agency reports. The facility is slated to come online by end-2027 with 140 MW of electrolysis capacity, targeting annual output of up to 23k tons of green hydrogen for industrial users. Long-term green power contracts are already secured, the state agency said, citing OMV’s CEO Alfred Stern.

Total capex is expected to land in the “high three-figure EUR mn” range, with Masdar covering 49% of costs. Earlier media estimates pegged the investment near EUR 700 mn, the state news agency added. The JV structure will see one managing director from each side.

About time: Masdar and OMV inked a letter of intent to partner in producing green hydrogen, sustainable synthetic fuels, and chemicals in the UAE, Austria, and Central and Northern Europe back in April. Both companies previously signed a Heads of Terms agreement to develop a large-scale green hydrogen plant back in 2023.

OTHER RENEWABLES NEWS-

EPointZero — the decarbonization arm of 2PointZero, an IHC-linked firm — and Egypt’s Elsewedy Electric signed a head of terms agreement to develop up to 300 MW of solar power in Zambia, according to a statement. No further details were disclosed for the project.

Expanding the footprint: EPointZero acquired a 1 GWh electrostatic energy storage system in May from renewables outfit Enercap to be deployed across UAE electrical grids. It also signed a framework for action with Masdar and TotalEnergies in July to accelerate clean energy access across Africa and Asia.

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