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Corfo to finance green hydrogen projects in Chile

Corfo to finance the first green hydrogen projects in Chile

Corfo signed agreements with the GNL Quintero, CAP and Air Liquide companies to finance the development of the first green hydrogen production plants on an industrial scale in Chile.

The three initiatives are part of the six that the Corporation selected last December and that, once installed, will have a total electrolysis capacity of 388 MW, a size equivalent to what is currently in operation worldwide. With them, in addition, investments of US$1,000 million and production of more than 45,000 tons of H2V per year are projected, which will reduce more than 600,000 tons of CO2 per year.

The project signed by GNL Quintero SA, called “Green Hydrogen Bahía Quintero”, contemplates the development, construction and operation of the first large-scale plant of this energy, located in the Valparaíso Region. It will have an installed electrolysis capacity of 10 MW, with which it will produce around 500 tons of green hydrogen. The amount awarded by Corfo amounts to US$5.7 million.

Meanwhile, CAP SA’s initiative, “H2V CAP”, will implement a green hydrogen plant in the Biobío Region that will have an electrolyzer power of 12 MW for an estimated production of 1,550 tons per year and, together with other initiatives already implemented, reduce more than 161,000 tons of CO2 per year. Corfo’s contribution to this initiative is US$3.6 million.

Air Liquide SA project, “Antofagasta Minería Energía Renovable (AMER)”, is expected to produce 60,000 tons per year of e-methanol from renewable energy, green hydrogen and captured CO2 from a fixed source. With an electrolyzer power of 80 MW, it will be installed in the Antofagasta Region, and the amount awarded by Corfo reaches US$11.7 million.

José Miguel Benavente, Corfo’s executive VP, said, “These projects are the initial kick to accelerate the development of a green hydrogen industry in Chile, which is not only a great opportunity for economic development but also a key piece to advance towards a fair energy transition and the challenge of decarbonization to face the climate crisis.”

Alfonso Salinas, Manager at GNL Quintero, said, “We are very happy with the support that Corfo has given to our Bahía de Quintero Green Hydrogen project, which we promote with the companies Acciona Energía and Enagás.”

Julio Bertrand, GM of CAP, said, “CAP has committed to innovate in the development of a prototype H2V plant in Talcahuano in order to study the possibility of producing green steel by 2030 and substantially reduce the carbon footprint of Siderurgica Huachipato.”

Alexander Young, Director of Air Liquide Chile, said, “This initiative is yet another demonstration of Air Liquide Chile’s commitment to reducing carbon emissions through the generation of ‘green’ products.”

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