Chile has launched the first green hydrogen accelerator in the country, supported and co-financed by the Energy Sustainability Agency. The accelerator will work within the National Green Hydrogen Strategy framework to promote hydrogen production and exports.
The Undersecretary of Energy, Francisco López, the Energy Sustainability Agency (AgenciaSE) has launched the Green Hydrogen Accelerator (H2V) initiative. He said that Chile wants to develop the hydrogen industry to become one of the world’s leading producers and exporters of hydrogen by 2040.
The ceremony was also attended by María Paz de la Cruz, the GM of the Chilean Hydrogen Association (H2 Chile) and Erwin Plett, the Green Hydrogen ambassador and CEO of Low Carbon Chile.
The H2V Accelerator initiative will work in two stages. In the first stage, organisations will identify the potential projects assessing all the required technical aspects. In the second stage, the project will then lead to the investment and development phase where co-financing of up to a total fund of CLP 300 million (US$ 0.4 million) is available.
In November 2020, Chile launched the National Green Hydrogen Strategy with the goal to produce the cheapest green hydrogen in the world by 2030 and rank in the top 3 exporters by 2040. Furthermore, it set a plan to install 5 GW of electrolysis capacity by 2025.
Chile has been trying to attract foreign investors to develop the country hydrogen industry. At the end of February, the InvestChile Director, Andrés Rodríguez Rowe, started the Middle East tour to meet with the region five significant sovereign wealth funds, including Qatar Investment Authority, Public Investment Fund (Saudi Arabia), Kuwait Investment Authority, Investment Corporation of Dubai and Mubadala (United Arab Emirates). Among other focus areas, Chile aimed to attract investment for green hydrogen and to highlight the country’s potential to position itself as a global supplier and the advantages of exporting green hydrogen to Asia Pacific markets.