The Chilean Economic Development Agency (CORFO) will provide US$50 million for the development of new Green Hydrogen Projects in Chile, contributing to the energy transition towards carbon neutrality.

CORFO has published a call for financial assistance for a total amount of USD 50,000,000, to be granted by 2022 to one or more Green Hydrogen Projects to be built in Chile. In accordance to estimations given by the International Energy Agency (IEA), Green Hydrogen will be produced in Chile at costs of less than Bdb1.5 USD/kg, which will give it a privileged position to become an important player as provider to the global market for Green Hydrogen and its derivatives.

The contribution consists in supporting early and efficient Green Hydrogen projects with a maximum amount of USD 30,000,000 per project. The beneficiaries may be public or private, national or foreign legal entities and/or consortiums, and for profit or non-for-profit institutions.

The amount must be destined to co-finance projects that consider the construction and start-up of Green Hydrogen production plants in Chile, in particular, the aim is to co-finance long-term investment in electrolyzers, their installations and auxiliary systems that enable their operation. These projects should be able to produce energy above 10 MW, and its implementation should be no later than December 2025.

Proposers must prove their experience, and their technical, economic and management capacity in projects of similar complexity and scope to the project submitted in this call. The awarded beneficiary must incorporate or acquire a company in Chile, within 12 months from the total processing of the resolution approving the agreement with CORFO.

Questions about this procedure and selection can be made by e-mail (hidrogenoverde@corfo.cl) until July 29, 2021, and applications are open until September 6, 2021. The official language to be used in the proposals, in the agreement and for communications must be Spanish.

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