Copenhagen Infrastructure Partners

It's a government thing, I'm pretty sure at least.

So we received a note from a listener last week when we were talking about CIP and gold wind turbines for an Australian wind farm.

Nick Ingram wrote in with something that we did not cover, which Vestas owns 25% of CIP.

The two companies are more connected than they look.

And thanks for that note, Nick.

So here's how that relationship works.

Vestas does own 25% of CIP.

However...

Okay.

And what's your ongoing interest in the project? Because you have actually sold it to Copenhagen Infrastructure Partners.

Yes.

So we have an ongoing role in the advice of our team.

Well, it has been sold.

Yeah, Windlab has an ongoing role in the development and the management and sort of rolling that out.

But yes, they found a buyer in Copenhagen Infrastructure Partners.

It's quite an extraordinary thing.

I always love going over.

Well, when you're in Denmark, you should go by Copenhagen Infrastructure Partners, Rosie, because they, uh, have an Australian project, and the turbines are coming from China.

Uh, the Gawarra Bayya is a 408 megawatt site, and CIP has confirmed to Finus that Goldwind will supply the machines.

Uh, that lands smack dab of the European fight between, uh, a lot of countries that would like to use Chinese suppliers and the EU Commission, which is really prohibiting it at the minute.

Uh, so [laughs] in a sense we have CIP, which is a, obviously a, a Danish company that has been pretty much avoiding any sort of Chinese wind turbines in the EU.

But once they come out of the EU are A-OKAY on using Chinese wind turbines in Australia.

It does seem like a real contradiction there, and my first thought was, well, hey, Scotland [laughs] has raised their hands into saying, "What the heck? Why is it okay for this Danish company to buy Chinese wind turbines and put them in Australia if they're so, um, afraid of all the technology that's inside of them and maybe the spying or whatever else, uh, the concern is there?" Is this gonna play out okay, you think, Rosemary? And es- especially Yolanda, you've worked for a y- a Danish operator.

Um, [laughs] is that controversial? Is that a hot, a hot take?

It's a pleasure to be here.

sean cip is a bit of a big dog in the world of the energy transition very famous and storied firm how do you bring some of that to bear in australia with this project could you explain a little bit about who cip is

yes danny the crp is a leading fund manager with a strong track record in both investing and developing and delivering renewable energy infrastructure This has been evident through the pioneering role that CIP has played in the industrialisation of offshore wind.

And we're now expanding that into onshore wind, solar, which we've been doing for years, best technology, like some of the large best projects we're doing here in Australia, and also into green molecules, green hydrogen, green ammonia and the like.

and the c stands for copenhagen of course investment partners it's copenhagen infrastructure partners great to have the knowledge and experience of cip focused on the hydrogen sector and and working with arena in this case to sort of get a head start on hydrogen but it's still a difficult case to make with green hydrogen not really yet knowing where the markets will be and Can you explain what gives conviction to a big investor like them with the Murchison project? What is your offtake and strategy here?

Now, climate change doesn't necessarily dominate today's agenda, but it does remain an unavoidable reality.

Therefore, the role of green hydrogen and clean fuels as a decarbonisation medium remains despite the present lack of the market demand for it or the liquid market for it, if I can use that term.

As I said, we have a strong track record in CIP in industrializing new technologies like we did with offshore wind.

We are running out of time.

Australia's stalled wind power rollout has received a $1.7 billion boost with Danish investment giant Copenhagen Infrastructure Partners giving the green light to a major new wind farm in North Queensland.

The 408 megawatt project will be the biggest wind farm on the east coast to secure financing in more than two years.

The project will include up to 68 wind turbines and a large battery, producing enough electricity to power around 240,000 homes.