COPENHAGEN, Denmark, April 30, 2024 (GLOBE NEWSWIRE) -- 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 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 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 Relations
Phone: +45 3054 1227
Email: orsk@cip.com
Thomas Kønig, Partner - Investor Relations
Phone: +45 7070 5151
Email: tkon@cip.com
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