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Printed Jan 21, 2025 • 4 minute learn
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The 2 firms have shaped a partnership to collectively develop, construct, and function a carbon seize facility exterior of Copenhagen in Denmark. The ability is predicted to seize 500,000 tonnes of CO2 yearly.
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COPENHAGEN, Denmark, Jan. 21, 2025 (GLOBE NEWSWIRE) — Copenhagen Infrastructure Companions, by means of its Power Transition Fund I (CI ETF I), in partnership with Vestforbrænding, Denmark’s largest waste to power firm, has entered into an funding settlement and a three way partnership settlement to determine a three way partnership geared toward collectively growing, constructing, and working a carbon seize facility in Glostrup, Denmark. CI ETF I’ll maintain a majority stake within the three way partnership within the development and operational part. Moreover, a flue fuel settlement has been signed, with Vestforbrænding offering the flue fuel and the three way partnership firm serving because the CO2-capture service supplier.
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The ability is predicted to seize roughly 500,000 tonnes of CO2 from Vestforbrænding’s waste to power plant which will likely be transported for everlasting geological storage, with a portion contributing to Vestforbrænding’s carbon neutrality targets and the rest for company offtakers to assist local weather motion. The emission financial savings correspond to ~11% of the full annual emissions in 2021 for the Better Copenhagen space.
The Bioenergy with Carbon Seize and Storage (BECCS) venture will assist the goal of the Danish authorities to completely retailer 2.4 million tonnes of CO2 by 2030 and 34 million tonnes of CO2 by 2045. The venture is additional anticipated to be supported by contracted revenues beneath long-term agreements from the sale of high-quality carbon elimination certificates (CRCs) primarily based on biogenic CO2 captured from the power restoration technique of residual waste. Moreover, waste warmth recovered from carbon seize is predicted to be delivered to the district heating community, benefiting the native municipalities. Consumers of the venture’s carbon elimination certificates will thus contribute to the protected dealing with of residual waste along with reasonably priced clear power for the native communities, which represents a singular offtake alternative for corporates concentrating on local weather management to handle residual emissions.
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The venture will likely be an essential step for Vestforbrænding to considerably scale back carbon emissions from their waste incineration by means of the utilization of CCS-technology.
“It’s crucial for Vestforbrænding and our homeowners, that we scale back our direct local weather and environmental impression to a minimal. That is why our board has set a aim for attaining carbon neutrality by 2030. We’re devoted to attaining this, and with this partnership with CIP, we’re much more hopeful. Now our focus is our cooperation with CIP, in order that the 2 events can work onerous and intently on establishing a carbon seize facility at Vestforbrænding. Reaching this will likely be a considerable contribution to attaining Denmark’s local weather targets,” mentioned Steen Neuchs Vedel, CEO at Vestforbrænding.
“Capturing CO2 is essential to realize the aim of net-zero emissions in parallel with different decarbonization applied sciences. We firmly imagine that along with a powerful companion like Vestforbrænding, we’ll make a precious contribution to attaining the Danish decarbonization targets and to additional maturing the business. The partnership with Vestforbrænding has enabled CIP to boost its expertise inside carbon seize which will be leveraged throughout the fund,” mentioned Søren Toftgaard, companion at CIP.
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The belief of the venture is topic to execution of a sequence of venture agreements and is in the end contingent upon securing a subsidy from the Danish CCS fund, administered by the Danish Power Company, and acquiring approval from the competent authorities beneath the Danish Funding Screening Act.
About Copenhagen Infrastructure Companions
Based in 2012, Copenhagen Infrastructure Companions P/S (CIP) immediately is the world’s largest devoted fund supervisor inside greenfield renewable power investments and a world chief in offshore wind. The funds managed by CIP concentrate on investments in offshore and onshore wind, photo voltaic PV, biomass and energy-from-waste, transmission and distribution, reserve capability, storage, superior bioenergy, and Energy-to-X.
CIP manages 12 funds and has so far raised roughly EUR 32 billion for investments in power and related infrastructure from greater than 180 worldwide institutional traders. CIP has roughly 500 workers and 14 places of work world wide. For extra info, go to www.cip.com
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About Vestforbrænding
Vestforbrænding is Denmark’s largest waste to power firm, owned by 19 municipalities in Zealand. Vestforbrænding receives waste from companies and practically a million residents, working every day to make sure that the waste is handled with the utmost consideration for the local weather and our surroundings. Nearly all of the waste is allotted for recycling, whereas the rest is incinerated on the facility in Glostrup. Right here, it’s utilized to generate electrical energy and district heating. For extra info, go to www.vestfor.dk.
For additional info, please contact:
E-mail: media@cip.com
Oliver Routhe Skov, Head of Media Relations, CIP
Telephone: +45 30541227
E-mail: orsk@cip.com
Thomas Kønig, Accomplice – Investor Relations, CIP
Telephone: +45 7070 5151
E-mail: tkon@cip.com
Per-Henrik Goosmann, Head of Press, Vestforbrænding
Telephone: +45 4038 7631
E-mail: pgo@vestfor.dk
Christopher Mortensen, Press Advisor, Vestforbrænding
Telephone: +45 2487 6465
E-mail: cmor@vestfor.dk
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