Copenhagen Infrastructure Partners invests in CWP Global
By on June 19, 2023
CIP has announced its strategic investment in CWP Global’s portfolio of hydrogen & ammonia mega-projects in Africa, Australia and the Americas. The Denmark-based investment organisation has acquired a 26.67% stake in a development platform within CWP’s green hydrogen business, representing a “significant vote of confidence” in CWP’s portfolio and the emerging industry.
We’re thrilled to welcome CIP to the CWP family, a new partnership that could not have come at a more important time. The race to net zero is on, and green hydrogen at scale will be a critical pillar for global decarbonisation, perhaps meeting one-fifth of global energy demand by 2050.
Alex Hewitt, CEO of CWP Global, in CIP’s official press release, 14 June 2023
Achieving decarbonisation targets requires green hydrogen and green ammonia to be produced at scale. Through this investment, CIP’s Energy Transition Fund now further expands its participation in the development of gigawatt scale PtX developments. CWP has a proven track record in delivering onshore renewables and has already built a strong pipeline of PtX development projects. With a strong management team and established regional footprints in Australia, Africa and Latin America, we expect CWP to become a global leader in developing ultra gigawatt-scale PtX projects and contribute significantly to decarbonisation of hard-to-abate sectors.
Felix Pahl, Partner at Copenhagen Infrastructure Partners, in his organisation’s official press release, 14 June 2023
Majority stake acquired in Gulf Coast mega-project
In February, CIP announced that it had acquired a majority stake in a CCS-based ammonia mega-project. Being developed by the US-based Sustainable Fuels Group, the project in St. Charles parish, Louisiana is a two phase, multi-million tonne per ammonia production facility that is planned to be operational from 2027. International-Matex Tank Terminals – which owns and operates three terminals in Louisiana – will provide ammonia storage and handling services, while Topsoe has been selected as ammonia synthesis technology provider.
We are developing a global portfolio of clean hydrogen and hydrogen-related products, such as clean ammonia. Blue ammonia is considered an important part of a successful energy transition, which can potentially help fill the ammonia shortage in Europe as well as being a steppingstone to the successful implementation of green projects, and we are excited to bring this project to the Gulf Coast region. Further, the agreement provides important diversification to our CI ETF I portfolio and can provide a platform for future hydrogen-related investments in the US.
Søren Toftgaard, Partner in Copenhagen Infrastructure Partners, in his organisation’s official press release, 23 Feb 2023