AustriaEnergy and Oekowind have agreed to form a joint venture with Copenhagen Infrastructure Partners (CIP) to develop its 1.7 GW HNH Project located in southern Chile’s Magallanes region.
Helmut Kantner, Managing Director of AustriaEnergy group, stated “Austria Energy is proud to announce this important milestone for both the HNH Project as well as for the AustriaEnergy Group and Oekowind. The involvement of CIP will accelerate project development and bring its valuable expertise in financing industrial scale renewable projects.”
Søren Toftgaard, partner at CIP, stated, “CIP is pleased to be entering this joint venture with AustriaEnergy and Oekowind to develop the landmark HNH Project, the first project for CIP in Chile. We believe that Chile has the potential to be a key global player in the production and export of green hydrogen and green ammonia, with the Magallanes region representing an excellent onshore wind resource. Through the HNH Project and the partnership with AustriaEnergy and Oekowind, we look forward to producing green ammonia in Chile to support the global energy transition.”
The HNH Project is a large-scale, export oriented green hydrogen and green ammonia project with an expected investment size of over USD 3 billion. Once operational, the HNH Project will consist of a 1.7 GW onshore wind farm, electrolysers, ammonia plant and port facility, and is expected to produce 1,000,000 metric tons of green ammonia per year – resulting in a substantial contribution to Chile’s ambition to be a global lead in green hydrogen/ammonia production.
The AustriaEnergy Group, founded in 2006 and based in Vienna, Austria, develops photovoltaic and wind power projects in Chile, among other countries. With a total capacity of 1,000 MW developed to date, AustriaEnergy is one of the pioneers in this field. Ökowind EE was founded in 2003 and since then has become well-known in the Austrian wind and hydropower energy industry.
CIP, headquartered in Copenhagen, Denmark, is a fund management company focused on energy infrastructure including offshore wind, onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity and storage, and other energy assets. CIP manages eight funds, with approximately EUR 16 billion under management from approximately 100 international institutional investors from Europe, Asia, Australia and North America and multi-lateral organizations e.g., EIB. The HNH Project will form part of CIP’s Energy Transition Fund, focused on power-to-x and other next generation renewable technologies in order to facilitate the decarbonization of hard-to-abate sectors such as agriculture and transportation.