Corfo, the Chile state development office, has signed agreements with regasification terminal GNL Quintero, iron producer CAP, and industrial gas producer Air Liquide, for funding industrial green hydrogen production.
According to Corfo, this move agreements are expected to double the present green hydrogen production across the world, reported Reuters.
Corfo executive vice president Jose Miguel Benavente said that these agreements are also expected to boost economic development and help in addressing the challenge of decarbonisation.
These three projects are a part of total six chosen by Corfo last December. The projects when completed, are expected to have a total electrolysis capacity of 388MW.
The three projects are expected to launch in December 2025.
Corfo expects an annual hydrogen production of 45,000t and an investment of $1bn.
GNL Quintero will get $5.7m from the state development office to build a 10MW electrolyzer, which will leverage electricity to split water into hydrogen and oxygen, and to generate an estimated 500t of green hydrogen annually.
CAP will get $3.6m to construct a 12MW electrolyzer, while Air Liquide will receive $11.7m to make use of the captured carbon dioxide, clean energy and green hydrogen to annually produce green methanol of 60,000t.
Image: The three projects are expected to launch in December 2025.Credit: Kanenori from Pixabay.