Copenhagen Infrastructure Partners (CIP) reached final closure on the largest clean hydrogen fund globally worth €3 billion ($3 billion), the CIP said in a statement on Wednesday.
The CI Energy Transition Fund I (CI ETF I) will primarily focus on greenfield projects in the OECD.
According to the statement, the CI ETF I fund aims to contribute to the decarbonization of industries such as agriculture, aviation, shipping, chemical manufacturing, and steel production through the use of green fuels and feedstock and CO2-free fertilizers.
CI ETF I's portfolio, once operational, is estimated to reduce more than 7.5 million tonnes of CO2 annually, or the equivalent to removing 1.6 million cars from the roads permanently, while delivering more than 4 million tonnes of green fuels each year.
The fund achieved commitments from investors with a 25% commitment from countries across the Nordics, 45% from Europe, 20% from the Asia-Pacific region and 10% from North America, with approximately a 50/50 split between existing investors in CIP funds and new investors,
By Gulsen Cagatay
Anadolu Agency
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