OMV Petrom reportedly gets EUR 40 mln state aid for green H2 hydrolysis plant

OMV Petrom (BVB: SNG), the largest oil company in Romania, will receive EUR 40 mln state aid (grant, most likely) under the National Recovery and Resilience Plan (PNRR) for a green hydrogen project, according to sources familiar with the contract quoted by Economica.net.

The project envisages a hydrolysis unit with a capacity of 20MW, and the power consumed should be obtained from renewable resources.

According to the sources, the financing contract between the Ministry of Energy and the company for this project was signed on March 25. The company has not reported it to investors, though.

The value of the project is EUR 88 mln. The plant must be operational by the end of 2025.

In June 2022, the Ministry of Energy launched a EUR 150 mln state aid scheme under the PNRR to support investments in building capacities to produce green hydrogen in electrolysis plants. The target was to develop capacities of 100 MW in electrolysis plants, with a production of at least 10,000 tonnes of green hydrogen per year, by the end of 2025.

Eleven projects were selected in the first phase, according to information published by Economedia last autumn, submitted among others by Petrom, Chimcomplex, and Monsson.

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