Austria’s energy group OMV has signed power purchase agreements (PPAs) with Austrian energy providers VERBUND and ImWind, securing 67 gigawatt-hours (GWh) of sustainable electricity annually. This supply, consisting of 65% hydropower and 35% wind energy, will cover over 35% of the external energy needs of OMV’s Schwechat refinery and the Adria Wien Pipeline (AWP).
Environmental Impact
The green energy deal is expected to significantly reduce OMV’s Scope 2 emissions by approximately 11,000 tons per year, contributing to a cumulative reduction of around 60,300 tons over the term of the agreements. “Our collaborations with VERBUND and ImWind will contribute to the reliable and sustainable energy supply to our facilities,” stated OMV CEO Alfred Stern.
Commitment to Decarbonization
Stern emphasized that these partnerships are vital for advancing OMV’s ambitious decarbonization targets outlined in their Strategy 2030. He noted, “The partnerships for renewable energy play an important role in supporting the transition towards a low-carbon future, and we will continue to expand our portfolio of PPAs.”
Details of the Agreements
VERBUND, Austria’s largest electricity provider, will supply 44 GWh of hydropower to OMV each year, with deliveries commencing in January 2025 under a four-year agreement. Meanwhile, OMV’s agreement with ImWind, a leader in Austrian wind and solar power, will provide 23.5 GWh of wind energy annually for eight years, starting in November 2024.
Conclusion
These strategic partnerships enable OMV to substantially reduce its reliance on conventional energy sources and increase its use of renewables, aligning with its 2030 decarbonization goals. By investing in sustainable energy, OMV is taking significant steps toward a greener future for its operations.
