OMV Petrom to invest $805 million to build sustainable fuel and green hydrogen plant
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Key Points:
- OMV Petrom to invest $805 million (€750 million) in Petrobazi oil refinery for sustainable aviation fuel(SAF) and green hydrogen plant.
- The investment aims to construct facilities for sustainable aviation fuels (SAF) and renewable diesel (HVO) and two green hydrogen production plants.
Sustainable Aviation Fuels (SAF) and Renewable Diesel (HVO) Plant
OMV Petrom, a leading oil refinery company, has announced plans to invest $805 million (€750 million) in the Petrobazi oil refinery field. This significant investment is directed towards constructing a state-of-the-art facility aimed at producing sustainable aviation fuels (SAF) and renewable diesel (HVO).
The hydrogen consumption of the plant will be covered by the green hydrogen plants proposed by the company.
Green Hydrogen Production Plants
In addition to the sustainable fuel plant, the company also plans to construct two green hydrogen production plants with a proposed capacity of 55 megawatts, which will produce approximately eight kilotons of green hydrogen annually.
These facilities will be crucial to the company’s efforts to reduce carbon emissions and promote renewable energy sources.
Financial Details
The total investment allocated for the sustainable aviation fuels (SAF) and renewable diesel (HVO) plant amounts to €560 million, with a proposed production capacity of 250 kilotons per year. Furthermore, the company intends to invest €190 million in establishing the two hydrogen plants, with €50 million to be sourced from European funds through the National Plan for Recovery and Resilience (NPRR).
Environmental Impact:
OMV Petrom’s investment reflects its commitment to environmental sustainability and reducing carbon emissions. By integrating green hydrogen into sustainable fuels like SAF and renewable diesel, the company aims to achieve a significant reduction of at least 70% in CO₂ emissions compared to conventional fuels.
CEO Statement
Christina Verchere, CEO of OMV Petrom, said, “We are moving forward with our transformation; in addition to our new renewable power projects, today we have taken a decisive step towards decarbonizing transport in Romania.”
She added, “In total, by 2030, we’re committing EUR 11 billion to transform the company for a lower-carbon future, both in Romania and the region.”
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