CIP signs MoU with Mexican authorities for green maritime fuels project

Under the MoU, the parties agree to collaborate to support the development of a large-scale, integrated renewable energy project in Oaxaca, Mexico. Helax Istmo is projected to produce green hydrogen and green maritime fuels, contributing materially to Mexico’s sustainable development goals, as well as to the decarbonisation of the shipping industry globally.

The MoU was signed in the presence of Mexican President, Andrés Manuel López Obrador, who has recognised the project’s transformational impact for the Isthmus.

Ole Kjems Sørensen, Partner at CIP and Co-Head of Growth Markets Funds, said: “This MoU showcases our long-term commitment to Mexico through the development of a pioneering project that offers green maritime fuels at scale – a first for the region. We would like to thank the Mexican authorities for their continued interest and support, and we look forward to continuing to engage constructively with national and local stakeholders and further develop Helax.”

Philip Cristiani, Partner at CIP and Co-Head of Energy Transition Fund, commented: “Our Energy Transition Fund is the largest dedicated clean hydrogen fund globally and we are proud to take this promising step forward for Helax together with the Mexican authorities. When fully operational, Helax is ideally placed to cater to the growing demand for green shipping fuels and make a significant contribution to the decarbonisation of the global shipping industry.”

The MoU acknowledges that Helax will undergo formal indigenous and social consultations under Mexican law. These are expected to take place in early 2024.

Read the article online at: https://www.hydrocarbonengineering.com/clean-fuels/04012024/cip-signs-mou-with-mexican-authorities-for-green-maritime-fuels-project/