Copenhagen Infrastructure Partners (CIP), through its Energy Transition Fund I (CI ETF I), the largest dedicated clean hydrogen fund globally, and Tenaska further strengthen their relationship by entering into an agreement to ramp up development of gigawatt-scale green hydrogen projects in the U.S.
As part of the agreement, Tenaska and CIP will develop greenfield gigawatt-scale green hydrogen projects, with the intent of serving local and global demand for green hydrogen, ammonia, methanol, sustainable aviation fuel and other clean fuels in key U.S. hydrogen markets.
The agreement will support the targets of the U.S. Department of Energy's National Clean Hydrogen Strategy and Roadmap of reaching a production of 10 million metric tonnes (MMT) of clean hydrogen annually by 2030, 20 MMT annually by 2040, and 50 MMT annually by 2050.
Partner at CIP, Søren Toftgaard, said: "Green hydrogen and Power-to-X will be key to take the next big leap within decarbonization, and CI ETF I, as managed by CIP, is uniquely positioned to invest in this segment. Working with Tenaska, a strong counterparty with significant experience within energy management and project development, will significantly ramp up CI ETF I's green hydrogen and renewable development capabilities in the U.S and will add to our strong global portfolio of Power-to-X projects."
Joel Link, president of Tenaska Development, said: "Green hydrogen presents exciting opportunities for the energy, transportation and agricultural sectors, among others, to meet climate and decarbonization goals. Tenaska looks forward to working with local and international consumers of hydrogen to create the right solutions for their clean energy needs and collaborating with CIP to deliver such hydrogen solutions and advance significant infrastructure projects throughout the U.S."
About Copenhagen Infrastructure Partners
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world's largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focuses on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X.
CIP manages 11 funds and has to date raised approximately EUR 25 billion for investments in energy and associated infrastructure from more than 150 international institutional investors. CIP has approximately 400 employees and 12 offices around the world, including CIP's North American headquarters located in New York City. For more information, visit www.cip.com
About Tenaska
Consistently ranked among Forbes List of America's Largest Private Companies, Tenaska is a leading energy company with business operations across the energy value chain. Tenaska Marketing Ventures (TMV) and Tenaska Power Services Co. (TPS) are among the largest natural gas and electric power marketing companies in North America. In addition to green hydrogen, Tenaska is developing a portfolio of carbon sequestration projects capable of storing 50 MMT of CO2 per year, and its development services portfolios include more than 27,000 MW of solar, wind and energy storage projects. For more information, visit www.tenaska.com.
For further information, please contact:
E-mail: media@cip.com
Thomas Kønig, Partner - Investor Relations
Phone: +45 7070 5151, Email: tkon@cip.dk
