CIP works with Mexican authorities on green hydrogen and Marine fuel projects

In the field of greenfield renewable energy, Copenhagen Infrastructure Partners (CIP), the world's largest fund manager, has entered into a cooperation agreement with Mexican authorities for Helax Istmo, a green hydrogen and green Marine fuel project on the Isthmus of Tehuantepec in the Mexican state of Oaxaca.

CIP will develop the Helax Istmo project in Mexico through the Growth Markets Fund II and the Energy Transition Fund I.

To this end, CIP signed a Memorandum of Understanding (MoU) on December 22, 2023 with the Trans-Oceanic Corridor of the Isthmus of Tevantepec (CIIT) and the Mexican State Department of the Navy, Secretaria de Marina (Semar).

Under the MOU, the two parties will cooperate to jointly develop a large-scale integrated renewable energy project in the state of Oaxaca, which aims to produce green hydrogen and green Marine fuels, making a substantial contribution to the achievement of the Sustainable Development Goals in Mexico and the decarbonization of the global shipping industry.

CIP noted that the MOU states that Helax will conduct formal negotiations in accordance with Mexican law. The consultation will take place in early 2024.

Ole Kjems S?, partner and head of growth markets fund at CIP rensen said: "This MOU is testament to our long-term commitment to Mexico to develop a groundbreaking project to deliver green Marine fuel on a large scale, the first of its kind in Mexico. We would like to thank the Mexican authorities for their continued attention and support and look forward to further engagement and continuing to advance the Helax project."

Philip Cristiani, Partner at CIP and co-head of the Energy Transition Fund, commented: "Our Energy Transition Fund is the largest dedicated clean hydrogen fund in the world, and we are very honored to take this step with the Mexican authorities to advance the Helax project. When fully operational, Helax will better meet the growing demand for green shipping fuels, making a significant contribution to decarbonizing the global shipping industry.

Under a memorandum of understanding signed in October, CIP has also partnered with Taiwanese container shipping giant Eva to develop hydrogen-based Marine fuels. The collaboration will involve several aspects, including the production of offshore wind based e-fuels in Taiwan, as well as exploring a wider range of green fuel supplies such as e-ammonia and e-methanol.