CIP launches new company for energy island development
Denmark’s Copenhagen Infrastructure Partners (CIP) will launch a new company dedicated to developing energy islands globally with backing from Nordic, European, and North American investors.
Named Copenhagen Energy Islands (CEI), the new company will build on CIP’s long-standing experience within offshore wind to develop energy island projects globally and is currently developing around 10 energy island projects around the North Sea, the Baltic Sea, and South-East Asia.
“If we want to achieve net-zero carbon emissions by 2050, we will need to scale up the deployment of offshore wind and other renewables to an unprecedented level. Today, the challenge for offshore wind is less about building the incremental offshore wind farm, but more how to integrate large-scale offshore wind energy into the global energy systems,” said Jakob Baruël Poulsen, Managing Partner and founder of CIP.
“We see energy islands as a key tool in solving this challenge and realizing the ambitious offshore wind targets across the globe.”
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According to CIP, energy islands combine existing, proven technologies in a new and innovative way and at a significantly larger scale, allowing for a cost-efficient build-out and integration of offshore wind.
A few advantages that offshore energy islands have include a substantial reduction in power transmission costs, large-scale offshore green hydrogen production, and synergies between power and hydrogen production.
Copenhagen Energy Islands, headquartered in Copenhagen, is majority-owned by CIP and a group of investors. The founding group includes major European, Nordic, and North American investors with a track record of investments in renewable energy infrastructure, including PensionDanmark, PFA, SEB, and Andel.