Hydrogen projects secure European Commission funding

news item image
Two hydrogen projects owned by CI Energy Transition Fund I, managed by Copenhagen Infrastructure Partners, were successful in securing grants from the European Commission.
Catalina was awarded €230 million while Madoqua was awarded €245 million.
The two projects are cornerstones in the future decarbonisation of European hard-to-abate energy sectors like shipping and heavy industries.
Together, they represent a combined electrolyser capacity of 1,000 MW.
Catalina is a hydrogen project with an electrolyser capacity of 500 MW located in Aragon in the north of Spain.
The project will produce green hydrogen to reduce carbon emissions from industrial applications.
Madoqua, located in Sines, Portugal, is a Power-to-X facility that will produce green hydrogen and ammonia primarily for shipping. It has an initial electrolyser capacity of 500 MW.
The two projects have been invited for Grant Agreement preparation with the European Commission.
“Today’s announcement is a proof point of CIP’s ability to deliver green hydrogen projects for building a future hydrogen economy in Europe.
“We would like to thank our partners in both Portugal and Spain as well as the authorities and local communities in both countries for working with us in creating a greener future for the coming generations of Europeans,” said Søren Toftgaard, on behalf of the partner group of the Energy Transition Fund.
The projects will receive the awarded funding from the date of commercial operation until the end of the 10-year grant period.
The grants are bringing the projects closer to Financial Investment Decision by reducing the gap between cost price and sales price and are important enablers for the success of the projects.
The grant is dependent on the two projects being operational within five years of signing the grant agreement. CIP expects the two projects to be operational no later than 2029.

128 queries in 0.605 seconds.