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 and other clean fuels in key U.S. hydrogen markets.
According to a news release, the agreement will support the targets of the U.S. Department of Energy’s National Clean Hydrogen Strategy and Roadmap of reaching a production of 10 million metric tonnes (MMT) of clean hydrogen annually by 2030, 20 MMT annually by 2040, and 50 MMT annually by 2050.
Partner at CIP, Søren Toftgaard, said: “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. 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.”
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.”
