As part of the agreement, the two companies agree to discuss and finalize agreements for the supply, purchase, and sale of blue ammonia to LOTTE from CIP’s St. Charles Project in Louisiana and green ammonia from CIP’s Murchison Project in Australia.
CIP and LOTTE also agree to initiate discussions regarding development of and investment in low-carbon ammonia projects on a global basis. The two companies also intend to discuss potential collaboration on projects in infrastructure bunkering and other sectors in connection with low-carbon ammonia.
We are delighted to cooperate with CIP, a global leader in greenfield renewable energy investments. With the Korean government’s strong policy support on energy transition, Korea will be the fastest growing market for clean hydrogen and ammonia. We will take lead in providing sustainable clean ammonia by utilizing the strengths and expertise of both companies.
—CEO & Head of Hydrogen Business Group of LOTTE Chemical Corporation JinKoo Hwang
Blue ammonia is a low-carbon approach which combines traditional ammonia synthesis using natural gas with subsequent carbon capture and storage and could significantly accelerate the energy transition while green ammonia production at scale is becoming more mature.
Founded 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 focuses 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 €28 billion for investments in energy and associated infrastructure from more than 160 international institutional investors.
