Copenhagen Infrastructure Partners, KK Invest and Danish Bio Commodities to operate and develop one of Denmark's largest biogas plants
May 17 2024 - 5:00AM
Copenhagen Infrastructure Partners, KK Invest and Danish Bio
Commodities to operate and develop one of Denmark's largest biogas
plants
Copenhagen Infrastructure Partners (CIP) and the plant's current
owners will invest in the ongoing expansion of the sustainable
bioenergy sector in Hjørring in Northern Jutland, Denmark. The
current owners include a local investment company with roots in
agriculture, KK Invest (owned by the Glenthøj Kirketerp family),
and DBC Invest (a sister company to Danish Bio Commodities). The
purpose is to jointly develop, expand and operate the existing
biogas plant as a continued hub for sustainable bioenergy in
Northern Jutland.
CIP's investment is made through its CI Advanced
Bioenergy Fund I (CI ABF I), whose investors include several of the
largest Danish pension funds. The investment into Sindal Biogas is
well aligned with the investment strategy of CI ABF I, as Sindal
utilises industrial and agricultural waste to produce green gas,
thereby helping to solve multiple environmental challenges.
"At Copenhagen Infrastructure Partners, we look
forward to working with the existing owners of Sindal Biogas to
develop and operate what is intended to be one of Denmark's largest
biogas plants. We see great potential in the conversion of
sustainable biomass into green gas and green fuels, which play a
crucial role in the green transition. The acquisition of the
majority of the shares in Sindal Biogas represents an important
step for our fund and portfolio of biogas projects. We look forward
to further developing and finalising the plant with our partners so
that we and the local community can create new jobs and contribute
to the green transition," says Thomas Dalsgaard, Partner at
CIP.
Sindal Biogas was founded in 2017 and has been
expanded several times since. Currently, the plant is being
expanded to process 500,000 tonnes of biomass annually with an
intended production of upgraded biogas for the gas grid of up to 34
million cubic metres. In addition, the plant will produce biogenic
CO2, which will be captured, stored and/or used in the green
transition. As a result of the planned new triple-digit million
investments, it is expected that the plant's production of upgraded
biogas can displace up to 50,000 tonnes of fossil CO2 per year. The
new investments into the plant will create growth and jobs in the
local area, which continues to be an essential partner for the
future development of the plant.
"Biogas is developing rapidly. Sindal Biogas
will need major investments in coming years to utilise the
technological opportunities and increase CO2 displacement. This
requires long-term, risk-taking capital with regulatory insight
into the green transition. In CIP, we have found a solid partner
who shares our vision. It has also been crucial for us that CIP is
backed by pension funds, which means that many citizens in the
region will indirectly become co-owners of a local part of the
green transition and join us on a continued journey of growth. We
are proud of what our talented employees have created, and
therefore, equally proud to have CIP on board to ensure continued
growth with local commitment," says Morten Glenthøj, KK Invest.
CIP has a fundamental belief that bioenergy
projects must be anchored locally. Therefore, it has been crucial
that the current owners continue in the project so that the
relationship with the local community and local ownership is
maintained. The partnership with the existing owners also
represents the first step in the joint further development of
large-scale biogas projects.
"DBC has been co-owners of Sindal Biogas for
almost four years, and we have been happy to be part of the growth
and development of the biogas plant together with Karen Kirketerp
and Morten Glenthøj and the plant’s daily management team. The
biogas plant has a lot of very capital-intensive development
opportunities ahead, and it has therefore been natural for DBC to
reduce our ownership share. We see CIP as the obvious partner for
the future journey," says Rune Ledgaard Sørensen, CEO at DBC
Invest.
About Copenhagen Infrastructure
PartnersFounded 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.
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 KK Invest
KK Invest is owned by the Glenthøj Kirketerp
family. Among other things, they run the agricultural company
K/AGRO, from which Sindal Biogas originates. KK Invest also
develops and invests in energy projects.
About DBC
Danish Bio Commodities (DBC) handles the sale of
the bio natural gas certificates that biogas plants are awarded on
the basis of gas production, and wants - in close collaboration
with the biogas producers - to help create a transparent,
sustainable and long-term market for trading bio natural gas
certificates. The sister company, DBC Invest, invests in biogas
plants and advises them on technology, development, biology and
biomass procurement. DBC Invest has so far invested in 8 biogas
plants that are in production and has co-ownership in three
projects under development. The DBC companies are owned by
Vestjyllands Andel, Jysk Energi, Hedeselskabet and Langfristet
ErhvervsFinansiering (LEF).
For more information, contact:
Email: media@cip.com
Oliver Routhe Skov, Head of Media RelationsPhone: +45
30541227Email: orsk@cip.comThomas Kønig, Partner - Investor
RelationsPhone: +45 7070 5151Email: tkon@cip.com