The Chilean Economic Development Agency (CORFO) will invest $50 million in the development of new green hydrogen projects in Chile, helping to accelerate the country’s transition to carbon-free energy.
CORFO has issued a request for financial assistance in the amount of USD 50 million, which will be provided by 2022 to one or more Green Hydrogen Projects in Chile. According to estimates from the International Energy Agency (IEA), Chile will be able to generate Green Hydrogen for less than Bdb1.5 USD/kg, putting it in a strong position to become a major player in the global market for Green Hydrogen and its derivatives.
The donation consists of a maximum of USD 30,000,000 per project to fund early and successful Green Hydrogen projects. Beneficiaries may be public or private, domestic or international legal bodies and/or consortiums, for-profit or non-profit organizations.
The funds must be used to co-finance projects in Chile that include the construction and startup of Green Hydrogen production plants, with the aim of co-financing long-term investments in electrolyzers, their installations, and the auxiliary systems that enable them to operate. These projects should be able to generate electricity in excess of 10 megawatts, and they should be completed by December 2025.
Proposers must demonstrate their technological, economic, and management ability in projects of comparable complexity and scope to the one proposed in this call. Within 12 months of the complete processing of the resolution authorizing the agreement with CORFO, the awarded beneficiary must incorporate or acquire a business in Chile.
Questions regarding the process and selection can be sent to hidrogenoverde@corfo.cl until July 29, 2021, and applications can be sent until September 6, 2021. Spanish must be used as the official language in all plans, agreements, and correspondence.
