CIP launches new energy island company

Copenhagen Energy Islands will build on CIP’s long-standing experience within offshore wind to develop energy island projects globally, and is currently developing a portfolio of around 10 energy island projects around the North Sea, the Baltic Sea and in South-East Asia.

Energy islands are large-scale offshore energy hubs, which will enable the massive scaling required for the next generation of offshore wind deployment globally. They 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. Key value drivers include a substantial reduction in power transmission costs, large-scale offshore green hydrogen production and related synergies between power and hydrogen production.

Copenhagen Energy Islands is an independent company majority-owned by CIP and a group of investors. The founding group includes major Nordic, European and North American investors with a track record of investments in renewable energy infrastructure, including PensionDanmark, PFA, SEB, and Andel.

“Our vision is to provide concrete solutions to the global challenge of scaling up renewables. 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. 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. We see energy islands as a key tool in solving this challenge and realizing the ambitious offshore wind targets across the globe,” said Jakob Baruël Poulsen, Managing Partner and founder of CIP.

 

Copenhagen Energy Islands is headquartered in Copenhagen with a team of industry professionals with extensive experience within renewables, infrastructure, and finance.

 

 

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Read the article online at: https://www.energyglobal.com/other-renewables/19012024/cip-launches-new-energy-island-company/