Foreign investment has been key to developing green hydrogen in Chile. Initiatives promoted by Enel Green Power, Linde, ENGIE, Air Liquide, GNL Quintero and CAP have been chosen for co-financing support by Chile’s Economic Development Agency, CORFO, with the goal of speeding up the development of the industry in our country. 

The Italian-owned company has unveiled its 2024 investment plans, which for the first time include developing initiatives using electricity storage batteries. 

The referential investment amount is US$1.5 billion and will be key to strengthening the development of renewable energy in the country.

Chile’s Government has updated its National Energy Policy, which for the first time considers climate change, green hydrogen and electromobility.

The French company began operations in 2012 and is preparing to open its doors in Chile. It will study new investments for fuel development, where it expects to launch its first operation in 2024 with an investment of over US$250 million.  

The number of desalination plants is increasing, while Chilean companies and foreign investors’ consumption of seawater has been constant. Cochilco also revealed that the sector's share of GDP reached its highest point in the last seven years.  

Since launching its national strategy, Chile has tripled its number of green hydrogen projects, currently boasting over 60 initiatives. The goal is for 25% of these projects to be producing green hydrogen before the end of the decade.

The tender award documents for contracts beginning in 2026 reveal an average price of US$24 per MWh. Several companies with foreign capital took part in the tender process, such as Mainstream Renewable Power, Sonnedix and Canadian Solar, demonstrating the importance of foreign investment in Chile’s energy sector.

Of the project proposals received by CORFO, six were presented by foreign companies from France, Denmark, Italy and Germany.

As Enaex and Engie filed the environmental paperwork for one initiative, GNL Quintero, Enagás and Acciona Energía announced a US$30 million investment to build a plant at the GNL regasification terminal.  

The company, backed by Norwegian and Irish capital, will add solar and wind projects with a 1 GW production capacity to its portfolio through a US$ 1.5 billion investment. 

Highview Enlasa’s first liquid air energy storage plant in Latin America will rely on a CRYOBattery system with 50MW/500MWh capacity and will be located in the Atacama Region of northern Chile.

The goal is to provide greater assurances to companies looking to implement this technology in projects that are already under way.

Almost 25% of the country’s electricity is now supplied by non-conventional renewable sources. The future of energy is green, and all the energy that Chile needs could come from clean sources by 2040.

The Cerro Dominador project aims to bridge the gap following removal of the coal plants, helping to supply the country’s grid with power at times when the wind and sun cannot.

The event, which includes the Clean Energy Ministerial (CEM 12) and the Mission Innovation Ministerial (MI-6) forums, will run from May 31 through June 6.

Thermoelectric power is on its way out and Chile is committed to an upsurge in renewable investment driven by the private sector to achieve its ambitious climate goals.

The project, an initiative of Highly Innovative Fuels (HIF), with participation from Siemens Energy, involves building a 3.4MW wind turbine and a 13kV back-up transmission line on a 3.7-hectare site in Chile’s far south.

Corfo has launched a round of US$50 million in financing to leverage Green Hydrogen projects among both domestic and foreign companies.

The Ministry of Finance has issued approximately USD14.4 billion in thematic bonds since 2019, of which approximately USD7.7 billion are green bonds, USD5.2 billion are social bonds, and USD1.5 billion in sustainable bonds.