SANTIAGO- Chile state development office Corfo signed agreements with three companies on Thursday to fund industrial green hydrogen production, which it says could double current production worldwide.
The move would boost economic development and help with energy transition and meeting the challenge of decarbonization, Corfo’s executive vice president Jose Miguel Benavente said in a statement.
Corfo signed agreements with regasification plant GNL Quintero, iron producer CAP and industrial gas supplier Air Liquide, the statement said.
The three projects are part of six selected by Corfo last December which, when completed, are expected to have a total electrolysis capacity of 388 megawatts. Corfo expects $1 billion in investments and production of 45,000 tonnes of hydrogen a year.
GNL Quintero will receive $5.7 million to construct a 10-megawatt electrolyzer, which uses electricity to split water into hydrogen and oxygen, to produce an estimated 500 tonnes of green hydrogen a year.
CAP will receive $3.6 million to build a 12-megawatt electrolyzer and Air Liquide will receive $11.7 million to use captured carbon dioxide, renewable energy and green hydrogen to produce 60,000 tonnes of green methanol a year.
Corfo said it expected the projects to launch in December 2025.
Puri asserted that India would eventually become a leader in the green hydrogen space. The target of 20 per cent of ethanol blending has been brought forward from 2030 to 2025 and it would be definitely achieved, he said.