LatinNews Daily - 27 May 2022

In brief: Chile invests in green hydrogen projects

*Chile’s state development agency Corfo has signed agreements with three companies to fund industrial green hydrogen production. According to a statement, Corfo signed funding agreements with regasification plant GNL Quintero and iron producer CAP – both Chilean companies – as well as with French industrial gas supplier Air Liquide. Corfo says the companies’ renewable hydrogen projects will receive US$50m in funding and will develop an electrolysis capacity of 388 megawatts, equivalent to the world’s operating capacity. Corfo expects the projects will generate US$1bn in investments and produce 45,000 tonnes (t) of hydrogen a year. In a statement, Corfo’s executive vice president, José Miguel Benavente, said the move would boost economic development and would help with energy transition and meeting decarbonisation goals. Corfo expects the projects to launch in December 2025. Investing in renewable hydrogen projects is one of the steps that Chile’s government is taking to reach its target of becoming carbon neutral by 2050.

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