Copenhagen Infrastructure Partners (CIP) announced the creation of a brand new company and band – Copenhagen Energy Islands (CEI) – to focus on the development of energy island projects worldwide.
CEI, supported by Nordic, European, and North American investors, will leverage CIP’s extensive experience in offshore wind to develop new projects. CEI confirmed that is already developing 10 energy island projects across the North Sea, the Baltic Sea, and in South-East Asia.
Copenhagen Energy Islands – About the Company
Copenhagen Energy Islands (CEI) is a newly established company dedicated to the early-stage development of energy islands on a global scale. CEI is a carve-out from Copenhagen Infrastructure Partners (CIP), a prominent developer and fund manager in the renewable energy sector.
The majority ownership of CEI lies with CIP, along with other institutional investors which are detailed below:
CEI Investors | Company Details |
CIP – Copenhagen Infrastructure Partners | Established in 2012, CIP is the world’s largest dedicated fund manager specializing in greenfield renewable energy investments. |
PensionDanmark | PensionDanmark is the largest pension fund in Denmark’s labor market, ranking among the 50 largest pension funds in Europe. |
PFA | PFA is Denmark’s leading commercial pension provider, dedicated to returning substantial value to its 1.3 million customers. |
Andel | Andel is Denmark’s foremost energy group, operating as a cooperative society with subsidiaries. Active in Northern Europe, it participates in the complete energy value chain, including energy production, infrastructure, trading, and customer solutions. |
SEB | SEB operates in Sweden and the Baltic countries, providing financial advice and a diverse range of financial services. |
Jakob Baruël Poulsen, Managing Partner and founder of CIP, emphasized the company’s vision to address the global challenge of scaling up renewables. CEI aims to play a pivotal role in achieving net-zero carbon emissions by 2050 by focusing on large-scale offshore wind energy integration into global energy systems.
The company, headquartered in Copenhagen, boasts a team of industry professionals with extensive experience in renewables, infrastructure, and finance.
Related Project and News – Renewable Energy Developers
- Ørsted makes final investment decision on the Farranrory Onshore Wind Farm in Ireland
- Nordex to deliver 20 wind turbines for Denker & Wulf’s 3 wind farms in Germany
- Infranode acquires 49% in two biogas assets from the Danish operator Renegas
- Nordex will supply 18 wind turbines (106MW) to Capital Energy for the Mareas wind farm projects in Zaragoza, Spain
- CIP reaches FID for 300 MW onshore windfarm in India with Viviid Renewables
What are Energy Islands?
Energy islands are expansive offshore energy hubs designed to facilitate the substantial scaling needed for the next generation of global offshore wind deployment. These islands leverage existing, proven technologies in an innovative manner, operating at a significantly larger scale.
The video below details the world’s first energy island, VindØ, which is currently under development by VindØ Consortium, comprising PensionDanmark PFA, Andel, Nykredit, and CIP.
Energy Island - The Advantages
This approach will enable a cost-efficient expansion and integration of offshore wind projects. Key value drivers of energy islands include:
- Enable Significant Cost Savings:
- Costs are minimized through substantial scaling benefits. For instance, constructing a single energy island to accommodate 10GW of offshore wind proves more cost-effective than traditional high-voltage direct current converters on offshore platforms. This efficiency is because the expense of building each additional steel jacket is higher than each additional hectare on the island.
- On-island hydrogen production contributes to significant transmission cost reduction, with hydrogen pipelines costing approximately 20% of high-voltage direct current cables.
- Accelerate Deployment Rate:
- The deployment of offshore wind can be expedited by leveraging existing local supply chains for other offshore infrastructure elements like harbors, bridges, and tunnels. The energy island can easily be mobilized and expanded, fostering local job creation and activities.
- Establishing an island capable of hosting 10GW of offshore wind is a quicker process compared to building offshore converter platforms.
- Reduce Grid Constraints:
- Grid constraints are alleviated through on-island hydrogen production, which enhances power cable utilization and significantly diminishes the necessity for power grid expansion. This, in turn, reduces curtailment in offshore wind.
- On-island hydrogen production allows optimal utilization of the wind resource by using wind power for on-island hydrogen production during low power prices and exporting power when prices are high.
