The Faro del Sur Project, a collaboration between Enel Green Power Chile and Highly Innovative Fuels (HIF), received close to US$ 16.9 million in the “First Call for Green Hydrogen Project Funding in Chile,” organized by Corfo.
The goal of this fund is to hasten the implementation of initiatives that will aid in the transition to a carbon-free energy system. Faro del Sur is the largest and only initiative in the Magallanes Region that has received funding.
“This marks a new step forward for a project that will produce green hydrogen through the wind-powered electrolysis process. It is a project that demonstrates our commitment to promoting innovative solutions that contribute to the sustainable development of the country,” says Fernando Meza, business development manager for EGP Chile.
Through the generation of wind power and the installation of electrolyzers with a capacity of approximately 240 MW, the Faro del Sur project is expected to produce 25,000 tons of green hydrogen per year in the Magallanes Region.
“These types of incentives are one more step towards a sustainable economy that will help position Chile as one of the top producers of green hydrogen and its derivatives in the world,” says CEO of HIF Global, Clara Bowman.
Twelve national and international companies interested in developing and executing green hydrogen production projects in Chile applied to Corfo’s fund, which awarded a maximum of US$ 50 million. One of the criteria for participating in the process was that the projects must have an electrolyzer capacity of at least 10 MW and a start-up date no later than December 31, 2025.
