Copenhagen Infrastructure Partners (CIP) has committed to deploying €100bn into green energy investments by 2030.
CIP managing partner Jakob Baruel Poulsen said CIP has set an “ambitious target” of increasing annual investments into new renewable energy projects to around €10bn on average between 2022 and 2030.
CIPs €100bn ambition is underpinned by a pipeline of projects that is about one third offshore wind with the remaining two-thirds including onshore wind and solar PV, as well as other technologies such as Power-to-X, energy storage, energy islands, power transmission, electrification and advanced biofuels.
“In combination with financing from banks and partners, our average annual deployment will be almost €20bn per year during this period, resulting in significant CO2 reductions.
“We have already initiated this acceleration of activities across geographies and across all areas of greenfield renewable energy investments,” Baruel Poulsen said.
He also said CIP is joining the “call for COP26 to deliver swift and joint global action, and concrete policy initiatives to combat climate change”.
“In CIP we have the project pipeline, the capabilities as well as the technological and financial resources to continue to tackle climate change.
“But we need firmer and more decisive policy instruments to curb CO2 emissions, including increased offshore wind build-out targets and faster approval processes”.
With more than 30GW of offshore wind capacity in development, CIP has a portfolio of both fixed-bottom and floating offshore wind projects in key offshore markets, including North America, Asia-Pacific, Emerging markets and Europe
The Power-to-X projects are the most recent addition to the CIP portfolio. Key projects include the 5GW pathbreaking Murchison project in Australia, and the 1GW Hoest project in Denmark.