CWP Global and Copenhagen Infrastructure Partners (CIP) have announced the recent completion of CIP’s strategic investment in CWP’s development portfolio of ultra-large-scale green hydrogen hubs.
The investment represents good news for green hydrogen in various regions, with projects across Africa, Australia and the Americas included in the portfolio.
Under the deal announced today, CIP has acquired a 26.67% stake in a development platform within CWP’s green hydrogen business, through its Energy Transition Fund I.
This allows CIP to seize the opportunity to invest in the CWP’s pipeline of green hydrogen hubs under development globally. It steps up CIP’s investments in green hydrogen projects and is seen as a significant vote of confidence in the emerging green hydrogen sector from one of the world’s largest renewable energy infrastructure investors.
“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,” affirmed Alex Hewitt, CEO of CWP Global.
“This CWP-CIP partnership is built around a remarkable alignment of values and a shared vision of the scale and urgency of the energy transition. We look forward to working with CIP to build value for the planet and future generations, and new opportunities for local communities and economies, including in the developing world.”
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There is growing market sentiment that significant and scalable demand for green hydrogen is set to take hold in the second half of this decade.
Peer-reviewed scenarios for achieving Net Zero GHG (greenhouse gas) emissions by 2050 or earlier – including those from the IPCC, IEA, IRENA and the Energy Transitions Commission, among others) – make clear that alongside widespread electrification of global energy demand, the production and use of green hydrogen and derivatives is a critical tool to decarbonise a variety of energy-intensive but hard-to-abate sectors.