Copenhagen Infrastructure Partners and Vattenfall awarded IJmuiden Ver Beta offshore wind farm

Zeevonk, a joint venture of Copenhagen Infrastructure Partners (CIP), through its Energy Transition Fund, and Vattenfall has been awarded a permit to build wind farm IJmuiden Ver Beta in the Netherlands. This 2 GW offshore wind project will include a 50MW floating offshore solar farm on site and a new electrolyser at the Port of Rotterdam which will convert electricity of IJmuiden Ver to green hydrogen.

COPENHAGEN, Denmark, June 11, 2024 (GLOBE NEWSWIRE) -- Two major offshore wind developers join forces: Vattenfall, one of Europe's leading energy companies, and Copenhagen Infrastructure Partners (CIP), a global leader in renewable energy investments. Both parties have a strong track record in developing, constructing and operating offshore wind projects. The portfolio of the two companies combined includes multiple wind farms globally.

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Martijn Hagens, CEO Vattenfall Netherlands, says: “The Netherlands is taking yet another major step forward in the energy transition with IJmuiden Ver. Combining wind, solar and hydrogen, this project will create a state-of-the-art energy system and support further decarbonisation of industries and our society. We are extremely proud to have been awarded this permit and look forward to implementing our plans for this energy park together with CIP.”

Felix Pahl, Partner at CIP, says: “The Netherlands is at the forefront of the energy transition with ambitious offshore wind and hydrogen targets and stands out as a pioneer in this field. We at CIP are confident that our strong partnership with Vattenfall will support and contribute to the Netherlands journey towards a carbon-neutral future. The award of IJmuiden Ver Beta is a milestone for CIP’s Energy Transition Fund and an important step in realizing an integrated energy system in the North Sea.”

Towards tomorrow's energy system – hydrogen and floating solar

Zeevonk concerns the realization of a 2 GW offshore wind farm, 50 MWp floating offshore solar farm and a large-scale electrolyser. The new electrolyser will be built at the Maasvlakte which will produce green hydrogen, which can help to decarbonise industries and transport. Green hydrogen will play a key role in replacing fossil fuels and feedstock in hard to abate sectors.

The introduction of a 50 MW floating offshore solar farm is the next step in the development and further upscaling of offshore solar. Currently, a 5 MW offshore floating solar farm is constructed off the Dutch coast. Combining solar and wind means that the available space is used more efficiently. Another benefit is that solar and wind complement each other and are able to share the same grid connection, which results in a more efficient use of the power grid.

Zeevonk: Sustainability is in its DNA

Vattenfall aims to be net zero in 2040. Its climate targets are approved by the Science Based Targets initiative to help keep global warming at a maximum of 1.5 degrees Celsius. Vattenfall strives towards Net Positive Impact on Biodiversity in 2030 and is proud to be highly ranked for its sustainability performance by a number of ESG (Environment, Social, Governance) rating agencies. This year, CDP ranked Vattenfall in the top 2% of all rated companies, and Ecovadis awarded a Platinum Standard again.

CIP is the world’s largest investment manager focusing on sustainable energy infrastructure projects. CIP supports the transition to a circular economy through enhancing reuse and recycling of materials used in energy infrastructure components. CIP intends to develop CIP-wide core circularity standards for decommissioning the CIP fund projects to ensure the learnings from developing decommissioning plans are consolidated and shared across projects.

About the Zeevonk joint venture

Zeevonk is a joint venture in which Vattenfall and Copenhagen Infrastructure Partners (CIP), through its Energy Transition Fund I, have joined forces for the purpose of developing, constructing and operating the IJmuiden Ver Beta offshore wind farm and the large-scale electrolyser. CIP will be working with Copenhagen Offshore Partners, its exclusive offshore wind development partner.

About Copenhagen Infrastructure Partners

Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focus on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X. This includes the largest dedicated greenfield green hydrogen fund worldwide, Copenhagen Infrastructure Energy Transition Fund I (CI ETF I). CI ETF I has built a market leading portfolio of Power-to-X projects, with around 6.5 GW of electrolyser capacity in its development portfolio globally.

CIP manages 12 funds and has to date raised approximately EUR 28 billion for investments in energy and associated infrastructure from more than 160 international institutional investors. CIP has approximately 500 employees and 12 offices around the world. For more information, visit www.cip.com.

About Vattenfall

Vattenfall is a leading European energy company, which for more than 100 years has electrified industries, supplied energy to people’s homes and modernised people’s way of living through innovation and collaboration. We work to enable the fossil freedom that drives society forward. We are committed to building a future where everyone can choose fossil free ways to move, make and live. Our goal is net zero emissions in our entire value chain by 2040 at the latest. We employ approximately 20,000 people, have around 14 million customers and operate mainly in Sweden, Germany, the Netherlands, Denmark and the UK. Across these markets, Vattenfall operates 13 offshore wind farms with a total capacity of 4.5GW, including Hollandse Kust Zuid, the first subsidy-free offshore wind farm. Vattenfall is fully owned by the Swedish state.

For more information, visit Fossil freedom - Vattenfall.