Dutch developer Power2X will put CPP Investments’ €130m towards its construction of the 1200MW ErasmoPower2X, a €1bn solar and hydrogen plant, and the 500MW MadoquaPower2X, a €1bn industrial-scale hydrogen and green ammonia project in Portugal.
The investment is considered a huge statement of intent for the green energy transition and will represent a major leap forward for green molecule production it said.
ErasmoPower2X is being developed alongside Soto Solar, a Spanish solar power project developer while MadoquaPower2X involves Madoqua Renewables and Copenhagen Infrastructure Partners (CIP).
The €130m will accelerate Power2X’s long-term plan to develop next-generation energy assets. Power2X decarbonises molecules by developing new energy assets and infrastructure, with a focus on sustainable and low-carbon hydrogen, ammonia, methanol, and biofuels.
In terms of project owner involvement, the company looks after projects with a €250m-plus CAPEX.