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05 Jan 2024

CIP has signed an MOU for a new green hydrogen project in Mexico

Amy Power
CIP has signed an MOU for a new green hydrogen project in Mexico

Copenhagen Infrastructure Partners (CIP) recently announced their most recent achievement, the signing of a Memorandum of Understanding (MoU) which will see the development of a new green hydrogen project in Mexico.

The focus for this project will be placed on CIP’s project, Helax Istmo, which through the agreement will be committed to producing green hydrogen and green maritime fuels. This achievement was made possible for CIP due to the company’s Growth Market Funds II and Energy Transition Fund I (ETF I). The MoU encompasses Helax Istmo, Interoceanic Corridor of the Isthmus of Tehuantepec (CIIT) and Mexico’s national Ministry of Navy, the Secretaría de Marina (Semar).

Altogether these three parties will work towards the overall goal of creating a large-scale renewable energy project for Oaxaca, Mexico. Helax Istmo will contribute to this through their green hydrogen and green maritime fuels production, which will become extremely useful to Mexico. Currently Mexico is focused on moving forwards with their sustainable development goals, as well as their goal to aid the decarbonisation of the global shipping industry. The products generated by Helax Istmo will go towards the progress of these goals and will be greatly beneficial to them.

The MoU concerning this project was signed in front of the Mexican President, Andrés Manuel López Obrador. The MoU states that Helax will now go through formal indigenous and social consultations under Mexican law, these will take place during early 2024.

Co-Head of Growth Market Funds and Partner at CIP, Ole Kjems Sørensen, commented, “This MoU showcases our long-term commitment to Mexico through the development of a pioneering project that offers green maritime fuels at scale – a first for the region.”

Co-Head of its ETF and Partner at CIP, Philip Cristiani, mentioned, “Our ETF is the largest dedicated clean hydrogen fund globally and we are proud to take this promising step forward for Helax together with the Mexican authorities. When fully operational, Helax is ideally placed to cater to the growing demand for green shipping fuels and make a significant contribution to the decarbonisation of the global shipping industry.”

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