CIP and Tenaska Team Up for Green Hydrogen Endeavors in the US

In a significant partnership, Tenaska and Copenhagen Infrastructure Partners (CIP) have set their sights on developing green hydrogen projects of considerable magnitude in the US. These ventures are slated to be greenfield gigawatt-scale projects, with a clear aim to cater to both local and global demand for a range of clean fuels. This includes green hydrogen, ammonia, methanol, sustainable aviation fuel, and other environmentally friendly energy sources. The strategic intent is to target key hydrogen markets within the US, which are poised for substantial growth and transformation.

This collaboration aligns harmoniously with the objectives outlined by the US Department of Energy's National Clean Hydrogen Strategy and Roadmap. These ambitious targets revolve around scaling up clean hydrogen production to monumental levels. Specifically, the plan is to reach a production capacity of 10 million metric tons of clean hydrogen annually by 2030, elevate it to 20 million metric tons annually by 2040, and culminate at a staggering 50 million metric tons annually by 2050. These goals are a testament to the increasing importance of hydrogen as a clean energy vector, essential for combating climate change and advancing sustainability.

Søren Toftgaard, a Partner at Copenhagen Infrastructure Partners, recognizes the pivotal role that green hydrogen and Power-to-X technologies play in accelerating decarbonization efforts. He underscores the unique positioning of CI ETF I, managed by CIP, to invest in this segment. The collaboration with Tenaska, an established and credible player in the energy management and project development arena, is expected to substantially enhance CI ETF I's capabilities in the realm of green hydrogen and renewable development within the US. This strategic alliance is set to augment CIP's already robust global portfolio, which spans diverse Power-to-X projects.

Joel Link, President of Tenaska Development, expresses enthusiasm for the vast potential presented by green hydrogen. He acknowledges that this eco-friendly energy source has the capacity to revolutionize multiple sectors, including energy, transportation, and agriculture, while also facilitating the attainment of climate and decarbonization objectives. Tenaska is committed to collaborating with local and international hydrogen consumers to design tailored solutions that cater to their clean energy requirements. The partnership with CIP is viewed as a critical step in advancing infrastructure projects of significant scale throughout the US, with a particular focus on hydrogen solutions.

Furthermore, their alignment with the US Department of Energy's hydrogen production targets underscores the commitment to addressing climate change and fostering a cleaner, more sustainable future. Both partners recognize the transformative potential of green hydrogen and are well-prepared to lead the way in the US, catering to a variety of sectors and collaborating with local and global consumers to deliver tailored clean energy solutions.