As part of the agreement, Tenaska and CIP will develop greenfield gigawatt-scale green H₂ projects, with the intent of serving local and global demand for green H₂, ammonia, methanol, sustainable aviation fuel and other clean fuels in key U.S. H₂ markets.

The agreement will support the targets of the U.S. Department of Energy’s National Clean H₂ Strategy and Roadmap of reaching a production of 10 MM metric tpy of clean H₂ by 2030, 20 MM metric tpy by 2040 and 50 MM metric tpy by 2050.

Partner at CIP, Søren Toftgaard said, “Green H₂ and Power-to-X will be key to take the next big leap within decarbonization, and CI ETF I, as managed by CIP, is uniquely positioned to invest in this segment. Working with Tenaska, a strong counterparty with significant experience within energy management and project development, will significantly ramp up CI ETF I’s green H₂ and renewable development capabilities in the U.S and will add to our strong global portfolio of Power-to-X projects.”

Joel Link, president of Tenaska Development said, “Green H₂ presents exciting opportunities for the energy, transportation and agricultural sectors, among others, to meet climate and decarbonization goals. Tenaska looks forward to working with local and international consumers of H₂ to create the right solutions for their clean energy needs and collaborating with CIP to deliver such H₂ solutions and advance significant infrastructure projects throughout the U.S.”