Madoqua Ventures (operating through Madoqua Renewables) is the Portuguese industrial-transformation sponsor behind MadoquaPower2X — a 500 MW alkaline electrolysis plant and 500,000 tonne/year renewable ammonia facility at Sines, built jointly with Denmark’s Copenhagen Infrastructure Partners (CIP) and Dutch developer Power2X. It is the most advanced Power-to-X project on the Iberian peninsula and the largest Danish-anchored industrial commitment to Portugal to date.
Madoqua Ventures originates and develops industrial decarbonisation projects in Portugal’s Sines industrial cluster. Its flagship MadoquaPower2X project is a tri-national consortium between Portugal (Madoqua Renewables), the Netherlands (Power2X) and Denmark (Copenhagen Infrastructure Partners’ Energy Transition Fund), built around a 500 MW phase-one electrolyser feeding a Haber-Bosch loop using KBR’s K-GreeN ammonia technology. The Sines location places production directly inside the deep-water Atlantic export terminal, REN-connected grid infrastructure, and Portugal’s designated industrial decarbonisation hub.
The Danish dimension is the corridor signal: CIP’s involvement makes MadoquaPower2X the largest tangible Nordic capital commitment to a Portuguese green-molecule project, and the project has received repeated European Commission Innovation Fund grants — including a €14.1 million top-up in 2026 — that have hardened its delivery timeline. Phase 2 expansion would scale electrolysis toward 1 GW.
For Lisbon, Madoqua Ventures is the operational layer through which Danish institutional capital is flowing into the Sines green-molecules cluster alongside Stegra, Start Campus, Galp’s 100 MW electrolyser and the broader H2Med corridor. For Nordic offtakers in shipping, fertiliser and steel, Madoqua’s 2026 first-shipment ambition for green ammonia would make Portugal one of the first jurisdictions in the world with a commercial international renewable-chemical export market.
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