Copenhagen Infrastructure Partners to Launch Various Greenhouse Projects
Copenhagen Infrastructure Partners (CIP) has taken a significant step towards green energy production in the United States by announcing its plan to develop several gigawatt-scale green hydrogen projects. This ambitious initiative is in collaboration with Tenaska, an independent energy company. The partnership aims to cater to both local and global demands for green hydrogen, ammonia, methanol, and sustainable aviation fuel, aligning with the U.S. Department of Energy's goal to produce 10 million metric tonnes of clean hydrogen annually by 2030.
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The agreement was executed through CIP's Energy Transition Fund I (CI ETF I), which holds the distinction of being the largest dedicated clean hydrogen fund globally. CI ETF I has approximately 6.5GW of electrolysers in its base case portfolio and achieved its first close with €800 million in commitments as of June 2021. Due to high demand, the fund was oversubscribed and eventually closed at its hard cap of €3 billion in August 2022.
Søren Toftgaard, a partner at CIP, expressed that green hydrogen and Power-to-X are pivotal in the next big leap towards decarbonization. Collaborating with Tenaska, CIP expects to significantly enhance CI ETF I’s green hydrogen and renewable development capabilities in the U.S., contributing to a robust global portfolio of Power-to-X projects.
Power-to-X, as defined by the World Energy Council, involves the production of synthetic fuels using power from renewable or other low-carbon sources. It's seen as a crucial solution to fill the clean molecule gap. Notably, Power-to-X can help decarbonize sectors that are challenging to electrify, offer a long-term storage solution, and facilitate greener industrial and chemical supply chains. This partnership marks a significant stride in leveraging Power-to-X technologies for a more sustainable energy future.
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According to the article by Procurement Resource, Copenhagen Infrastructure Partners (CIP) collaborates with Tenaska to develop gigawatt-scale green hydrogen projects in the U.S., aiming to meet local and global demands for clean fuels. Funded by the world's largest clean hydrogen fund, CI ETF I, with €3 billion, this initiative supports the U.S. goal of producing 10 million metric tonnes of clean hydrogen by 2030. Focusing on Power-to-X technologies, the partnership aims to decarbonize hard-to-electrify sectors and advance sustainable energy solutions.
