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Green Hydrogen: Investment Opportunities in Chile

Agustín de Vicente / June 13, 2024 | 08:51
Chile is emerging as a leader in green hydrogen production, offering an ideal environment for foreign investment in renewable energy.

With unparalleled natural resources and a strong commitment to sustainability, Chile stands as a key player in the global green hydrogen industry.

The country has consistently been recognized as one of the best places to invest in renewable energy in Latin America.

With the highest solar energy production potential in the world and exceptional wind energy conditions in the Magallanes region, Chile provides an optimal setting for green hydrogen production.

Green Hydrogen: Key to combating climate change

Green hydrogen is a central component of Chile's strategy to reduce carbon emissions and combat climate change. In November 2020, Chile launched its National Green Hydrogen Strategy, aiming to become the most competitive green hydrogen producer globally.

Karla Flores, Director of InvestChile, highlighted that «Chile is in a privileged position to offer investment opportunities that are crucial for global challenges.»

Projects in Development

Chile already has over 50 green hydrogen production projects at various stages of development. These projects are strategically located to leverage energy resources, potential demand, and existing infrastructure.

Regions like Antofagasta and Magallanes are epicenters of this activity due to their solar and wind resources, respectively. Some of the most notable projects include:

  • Haru Oni: A pioneering synthetic fuels project in Magallanes, led by HIF Global and supported by Porsche, Siemens Energy, and Enel.
  • HyEx: A project in Antofagasta aiming to produce green hydrogen from solar energy for the mining industry, developed by Engie and Enaex.

Enabling infrastructure and resources

Chile is not starting from scratch in this industry. With extensive experience in desalination and water reuse, the country is well-equipped to support green hydrogen production.

Additionally, the existing infrastructure and available public lands facilitate the installation of new projects.

Chile's green hydrogen export potential is further enhanced by its access to 33 trade agreements with 65 economies, enabling companies to reach global markets under favorable conditions.

The Chilean government, through institutions like InvestChile and CORFO, provides continuous support to foreign investors.

Initiatives such as the Green Hydrogen Industry Development Committee and the 2023-2030 Action Plan ensure sustainable and coordinated industry development.

Investment in Green Hydrogen

The future of Chile involves achieving energy independence and even exporting its surpluses.

Green hydrogen production presents numerous opportunities as well as some challenges. Foreign investment in clean energy, such as solar or wind, will be key to the industry's development.

Chile stands out not only for its production potential but also for its commitment to sustainability and international collaboration.

Supported by a robust regulatory framework and a clear strategy, the country is poised to lead the transition towards a greener and more sustainable economy.

Investing in the green hydrogen industry in Chile is not just an opportunity to participate in an energy revolution but also to contribute to a cleaner and more sustainable future.

To learn more about the green hydrogen industry in Chile, download the eBook.

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