Copenhagen Infrastructure Partners (CIP), the world’s largest fund manager within greenfield renewable energy, has agreed with Mexican authorities to collaborate on Helax Istmo, a green hydrogen and green maritime fuels project in the Isthmus of Tehuantepec, in Oaxaca, Mexico, according to Offshore Energy.
CIP will develop the Helax Istmo project in Mexico through its Growth Markets Funds II and Energy Transition Fund I.
To this end, CIP signed a memorandum of understanding (MoU) with the Interoceanic Corridor of the Isthmus of Tehuantepec (CIIT) and Mexico’s national Ministry of Navy, the Secretaría de Marina (Semar), on December 22, 2023.
Under the MoU, the parties will collaborate to support the development of the large-scale, integrated renewable energy project in Oaxaca which aims to produce green hydrogen and green maritime fuels, contributing materially to Mexico’s sustainable development goals, as well as to the decarbonization of the shipping industry globally.
CIP noted that the MoU acknowledges that Helax will undergo formal indigenous and social consultations under Mexican law. The consultations are expected to take place in early 2024.
CIP is also collaborating with Taiwanese container shipping major Evergreen on hydrogen-based marine fuels under the MoU signed in October this year. This cooperation will have several aspects, including the production of e-fuels in Taiwan based on offshore wind as well as the exploration of a broader supply of green fuels such as e-ammonia and e-methanol.