AustriaEnergy and Oekowind have formed a joint venture with Copenhagen Infrastructure Partners (CIP) to develop the 1.7 GW HNH Project in the Magallanes region of southern Chile. CIP’s participation will hasten project development and provide essential knowledge in funding large-scale renewable energy projects.
The HNH project is a large-scale, export-oriented green hydrogen and green ammonia project with an expected investment size of over $3 billion to complete. The project, when completed, will include a 1.7 GW onshore wind farm, electrolysers, an ammonia plant, and a port facility. It is expected to produce 1,000,000 metric tonnes of green ammonia per year. As per a company statement, CIP plans to create green ammonia in Chile through the HNH Project and a partnership with AustriaEnergy and Oekowind to support with the global energy transition.
CIP is a fund management company based in Copenhagen, Denmark, that invests in energy infrastructure such as offshore wind, onshore wind, solar PV, biomass and waste-to-energy, transmission and distribution, reserve capacity and storage, and other energy assets. CIP handles eight funds with over $18.09 billion in assets under management from over 100 international institutional investors from Europe, Asia, Australia, and North America, as well as multilateral organisations such as the European Investment Bank.
REGlobal’s Views: This is CIP’s first project in Chile and with a massive wind and green ammonia capacity planned to be deployed as part of the project, this will help CIP establish its presence in the highly attractive market of Chile.