Plans for establishing large scale energy production in the Energy Park

February 9, 2024

Pressrelease – Industrial investment in the Energy Park in Øygarden

CCB Energy and Øygarden municipality have, through the jointly owned real estate company Naturgassparken Vest AS, entered into an option agreement for land area with Copenhagen Infrastructure Partners, with the purpose of establishing production of hydrogen-based energy carriers in the Energy Park.

The transition to clean energy carriers such as hydrogen and ammonia are very important factors for achieving the global climate goals, especially for the restructuring of the maritime industry, the transport sector and process industries. Norway is in a good position to achieve streamlined and cost-effective production. This has also been reinforced by the nation's commitment to carbon capture and storage (CCS).

The contracting partners' experience from both green industry and the oil and gas sector, with a strong focus on HSEQ, will be important pillars for large-scale production development. This planned establishment will entail a substantial investments and will create significant future jobs and a major competence boost for the local industries. It will also have major ripple effects for existing businesses throughout the region.

Statements:

CIP by Philip Christiani: “CIP is already today building Low Carbon projects in theUS. As the energy transition is accelerating, low carbon energy products basedon natural gas and sequestration of CO2 – so called blue hydrogen products -will be able to deliver affordable clean fuels at scale. Øygarden is ideally located for this undertaking with access to the sea, natural gas and the Northern Lights sequestration facilities.”

Naturgassparken Vest AS by Eilert Hellesøy : “It is a major milestone for Naturgassparken Vest AS to enter into a forward-looking agreement with CIP, with significant ripple effects for aregional and local industry. The company CIP has a focus and a profile that matches the strategic objective for the development of the Energy Park. The agreement that has been concluded will be important for the establishment of CCS companies in the Energy Park”

CCB Energyby Ronny Haufe: “We are very pleased to land an agreement and a framework for significant industrial development and future jobs. The Energy Park has been our main focus and CIP will, in our opinion, be very appropriate in terms of mandate and direction desired for the development of the Energy Park. An industrial park that hosts industries such as CCS, DAC and H₂ will now be reinforced with other green energy carriers at a very beneficial location”.

Contact persons:

CIP by Oliver Routhe Skov, orsk@cisc.dk, mobile +45 3054 1227

CCB Energy by Ronny Haufe, rh@ccbeh.com, mobile +47 913 50660

Founded in 2012, Copenhagen Infrastructure Partners is theworld's largest fund manager within greenfield renewable energy investments andone of the world's leading offshore wind companies. CIP's funds focus oninvestments in offshore and onshore wind, solar, advanced bioenergy,transmission, and power-to-X.

CIP manages 12 funds and has to date raised approximately €28 billion from more than 160 investors globally. CIP has approximately 500 employees and 12 offices globally. For more information,visit www.cip.com

CCBEnergy Holding is owned 50/50 by Bernh Larsen Holding and Norsea Group (owned by Wilhelmsen New Energy). Owners with extensive experience from providing services to the oil and gas sector, as well as developing industrial parks, have provided a good foundation for developing sustainable and climate-friendly industrial parks. For more information, visit www.ccbeh.com

Naturgassparken Vest is a realestate company owned 50/50 by Øygarden municipality and CCB Energy. The company aims to facilitate industrial development and thereby create future jobs with a special focus on green development.

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