Investments

Clean Energy RD&D investments

Chile was proud to have succeeded in doubling its MI related investment in the first phase of Mission Innovation. In order to obtain our Carbon Neutrality ambitions, Chile will continue to dedicate investment into clean energy RD&D over the next phase of Mission Innovation.

The burgeoning green hydrogen industry in Chile in particular will need dedicated investment into research, design and development in order to meet the bold expectations we have set for domestic production by 2030 and ramping up to international export in the period out to 2050. The Chilean National Green Hydrogen Strategy details that over the next ten years to 2030 a cumulative 53 million USD will be needed in investment to drive down costs and increase production.

Recognising this challenge in achieving scalability associated with green hydrogen industry the Chilean government has committed to an initial funding round that will allow Chile to achieve cost-efficiency in green hydrogen production in the near term. Funding round considers a total maximum non-reimbursable contribution amount of 50 million USD, and up to 30 million USD per awarded applicant. The potential use of these funds has been specifically defined for electrolyzers and their Balance of Plant components.

In addition to this, the Chilean government is creating a Clean Technology Institute in the mining region of Antofagasta that will focus on the research and development of green hydrogen, solar energy and energy storage technology. The Institute will bring together public sector investment, private sector expertise and academic rigour to advance the innovation, research and development needed to underpin the expansion and deployment of these crucial industries that lie at the heart of Chile’s national economic strategy, international commitment to decarbonization and align with our strengthened pledge to the second phase of Mission Innovation.