Copenhagen Infrastructure Partners (CIP) is the Danish fund manager running one of the world’s largest pools of dedicated renewable-infrastructure capital. In Portugal, CIP is the lead Nordic investor in the €2.8 billion MadoquaPower2X green-hydrogen and renewable-ammonia project in Sines, alongside Madoqua Renewables and Power2X.
CIP’s Portuguese footprint is anchored by MadoquaPower2X in the Sines industrial and logistics zone (ZILS). Phase 1 is sized at 500 MW of alkaline electrolysis and is targeted to produce around 50,000 tonnes of green hydrogen and 500,000 tonnes of green ammonia per year. The consortium has selected KBR’s K-GreeN technology for the ammonia loop, and the Madoqua team has publicly targeted the first commercial shipment of green ammonia in 2026.
The European Commission has backed the project with multiple funding tranches, including a €14.1 million top-up that was confirmed in 2026. CIP invests via its Energy Transition Fund and brings development discipline from flagship Danish, German and UK power-to-X projects. The Sines footprint is CIP’s most tangible Portuguese commitment and one of the largest single Nordic investments in Portugal’s emerging green-molecules economy.
CIP at Sines is the clearest signal that Danish capital now sees Iberia as a core geography for large-scale renewable industrial infrastructure. The project draws a direct line between Nordic institutional capital, Portuguese renewable resources and a deepwater Atlantic export port, and it creates natural adjacencies for Nordic suppliers in electrolysis, hydrogen storage, port logistics and offtake. For Portugal it is the most credible proof point that the H2Med corridor narrative can be turned into delivered megawatts.
Fractio helps Nordic companies enter the Portuguese market — from market sizing to first sales, hiring, and legal setup.
Talk to Fractio →