Copenhagen Infrastructure Partners, Tenaska to develop green-hydrogen projects in US

Copenhagen Infrastructure Partners, through its Energy Transition Fund I (CI ETF I)—the largest dedicated clean-hydrogen fund globally—announced Oct. 26 that it and Tenaska have further strengthened 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 (SAF) and other clean fuels in key U.S. hydrogen markets.

The agreement will support the targets of the U.S. DOE’s National Clean Hydrogen Strategy and Roadmap of reaching a production of 10 million metric tons of clean hydrogen annually by 2030, 20 million tons annually by 2040, and 50 million tons annually by 2050.

“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,” said Søren Toftgaard, a partner at CIP.

“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,” Toftgaard added.

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.”

Founded in 2012, Copenhagen Infrastructure Partners 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.

Tenaska is a leading energy company with business operations across the energy value chain.

Tenaska Marketing Ventures and Tenaska Power Services Co. 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 million tons of CO2 per year, and its development-services portfolios include more than 27,000 megawatts of solar, wind and energy-storage projects.