Copenhagen Infrastructure Partners and Vestforbrænding to partner up on Carbon Capture and Storage

Article content

The two companies have formed a partnership to develop, build and operate a carbon capture facility outside Copenhagen, Denmark. The facility is expected to capture 500,000 tons of carbon dioxide annually.

Article content

Article content

COPENHAGEN, Denmark, Jan. 21, 2025 (GLOBE NEWSWIRE) — Copenhagen Infrastructure Partners, through its Energy Transformation Fund I (CI ETF I), in partnership with Vestforbrænding, Denmark’s largest waste-to-energy company, has entered into an investment agreement and investment agreement. Joint venture agreement to establish a joint venture intended to jointly develop, build and operate a carbon capture facility in Glostrup, Denmark. CI ETF I will own a majority stake in the joint venture in the construction and operation phase. In addition, a flue gas agreement was signed, whereby Vestforbrænding provides the flue gas and the joint venture company plays the role of carbon dioxide.₂– Pick up service provider.

Article content

The facility is expected to capture about 500,000 tons of carbon dioxide₂ From Vestforbrænding’s waste to the power plant it will be transported for permanent geological storage, with a portion contributing to Vestforbrænding’s carbon neutrality goals and the remainder to corporate contractors to support climate action. The emissions savings correspond to approximately 11% of total annual emissions in 2021 for the Greater Copenhagen area.

The Bioenergy with Carbon Capture and Storage (BECCS) project will support the Danish government’s goal of permanently storing 2.4 million tons of carbon dioxide.₂ By 2030, 34 million tons of carbon dioxide₂ by 2045. The project is also expected to be supported by revenues contracted under long-term agreements from the sale of high-quality carbon removal certificates (CRCs) based on biogenic CO2.₂ Captured from the process of energy recovery from residual waste. In addition, the waste heat recovered from carbon capture is expected to be delivered to the district heating network, benefiting local municipalities. Purchasers of the project’s decarbonisation certificates will thus contribute to the safe handling of residual waste as well as affordable clean energy for local communities, representing a unique opportunity for companies targeting climate leadership to address residual emissions.

Article content

Article content

The project will be an important step for Vestforbrænding to significantly reduce carbon emissions from waste incineration through the use of carbon dioxide capture and storage technology.

“It is essential for Vestforbrænding and our owners, that we minimize our direct impact on the climate and environment. For this reason, our Board of Directors has set a goal to achieve carbon neutrality by 2030. We are committed to achieving this, and with this partnership with CIP, we are even more optimistic. Our focus now is on cooperation with CIP, so that the two parties can work diligently and closely on establishing a carbon capture facility in Westforbranding,” said Sten Neukes-Wedel, President CEO of Vestforbrænding, saying that achieving this would be a major contribution to achieving Denmark’s climate goals.

“Capturing carbon dioxide₂ It is important to achieve the net-zero emissions target in parallel with other decarbonisation technologies. We firmly believe that together with a strong partner like Vestforbrænding, we will make a valuable contribution to achieving the Danish decarbonisation targets and further maturing the industry. “The partnership with Vestforbrænding has enabled CIP to strengthen its expertise in carbon capture which can be leveraged across the Fund,” said Soren Toftgaard, Partner at CIP.

Article content

Implementation of the project is subject to the implementation of a series of project agreements and ultimately depends on obtaining support from the Danish Carbon Capture and Storage Fund, managed by the Danish Energy Agency, and obtaining approval from the competent authorities under the Danish Investment Screening Act.

About Copenhagen Infrastructure Partners
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) is today the world’s largest specialist fund manager in new renewable energy investments and a global leader in offshore wind. Funds managed by CIP focus on investments in offshore and onshore wind, solar PV, biomass and energy from waste, transmission and distribution, spare capacity, storage, advanced bioenergy, and Energy to X.

CIP manages 12 funds and has to date raised approximately €32 billion investing in energy and associated infrastructure from more than 180 international institutional investors. CIP has approximately 500 employees and 14 offices around the world. For more information, visit www.cip.com

Article content

About WestforBranding
Vestforbrænding is Denmark’s largest waste-to-energy company, owned by 19 municipalities in New Zealand. Vestforbænding receives waste from businesses and nearly one million citizens, and works every day to ensure that waste is treated with the utmost consideration for the climate and our environment. The majority of the waste is allocated for recycling, while the remainder is incinerated at the facility in Glostrup. Here, it is used to generate electricity and district heating. For more information, visit www.vestfor.dk.

For more information, please contact:

Email: media@cip.com

Oliver Roth Skov, Head of Media Relations at CIP
Phone: +45 30541227
Email: orsk@cip.com

Thomas König, Partner – Investor Relations, CIP
Phone: +45 7070 5151
Email: tkon@cip.com

Per Henrik Guzman, Head of Press, Vestforbrændning
Phone: +45 4038 7631
Email: pgo@vestfor.dk

Christopher Mortensen, Press Advisor, Vestforbrændning
Phone: +45 2487 6465
Email: cmor@vestfor.dk

Article content