Two CIP projects successful in the first European Hydrogen Bank auction
30 Abril 2024 - 9:29AM
The two projects are cornerstones in the future decarbonisation of
European hard-to-abate energy sectors like shipping and heavy
industries. Together, they represent a combined electrolyser
capacity of 1,000 MW.
Catalina is a hydrogen project with an electrolyser capacity of
500 MW located in Aragon in the north of Spain. The project will
produce green hydrogen to reduce carbon emissions from industrial
applications. Madoqua, located in Sines, Portugal, is a Power-to-X
facility that will produce green hydrogen and ammonia primarily for
shipping. It has an initial electrolyser capacity of 500 MW.
The two projects have been invited for Grant Agreement
preparation with the European Commission. Catalina will receive a
production grant with a fixed premium of 0.48 EUR/kgH2 for ~48,000
tH2 p.a. over a 10-year period, an expected total of EUR 230.5
million. Madoqua will receive a fixed premium of 0.48 EUR/kgH2 for
~51,000 tH2 p.a. over a 10-year period, an expected total of EUR
245 million.
“We are very proud that our projects have been awarded this
grant, and we applaud European policy makers for recognising the
importance of the hydrogen economy in Europe. This pilot auction
shows that the economy behind a future hydrogen industry is
maturing, demonstrated by these competitive bids. Today’s
announcement is a proof point of CIP’s ability to deliver green
hydrogen projects for building a future hydrogen economy in Europe.
We would like to thank our partners in both Portugal and Spain as
well as the authorities and local communities in both countries for
working with us in creating a greener future for the coming
generations of Europeans,” said Søren Toftgaard, on behalf of the
partner group of the Energy Transition Fund.
The projects will receive the awarded funding from the date of
commercial operation until the end of the 10-year grant period. The
grants are bringing the projects closer to Financial Investment
Decision by reducing the gap between cost price and sales price and
are important enablers for the success of the projects. The grant
is dependent on the two projects being operational within five
years of signing the grant agreement. CIP expects the two projects
to be operational no later than 2029.
About Copenhagen Infrastructure PartnersFounded
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 focus 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 12 funds and has to date raised approximately EUR 28
billion for investments in energy and associated infrastructure
from more than 160 international institutional investors. CIP has
approximately 500 employees and 12 offices around the world. For
more information, visit www.cip.com
For further information, please contact:E-mail:
media@cip.com
Oliver Routhe Skov, Head of Media RelationsPhone: +45 3054
1227Email: orsk@cip.com
Thomas Kønig, Partner – Investor RelationsPhone: +45 7070
5151Email: tkon@cip.com