Italy’s Enel to help build green hydrogen plant in Chile By Reuters

Italy's Enel to help build green hydrogen plant in Chile


© Reuters. FILE PHOTO: A logo of Italian multinational energy company Enel is seen in Milan

MILAN (Reuters) – Italy’s Enel (MI:) plans to team up with Chilean power company AME and others to install a pilot project to produce green hydrogen in Chile, the utility said on Friday.

The plant, which is expected to be commissioned in 2022, will be the first green hydrogen plant of its kind in the country and one of the biggest in Latin America.

Besides Enel Green Power Chile and AME, other prospective partners include Chilean oil company ENAP, Siemens Energy and Porsche.

Green hydrogen is produced from renewable energy sources using devices called electrolysers. Enel said the Chile plant would be driven by wind power.

Enel, one of the world’s biggest renewable energy companies, is looking to launch a new green hydrogen business to speed up plans to be a carbon-free power producer by 2050.

“As we are doing in Chile, we will continue scouting for other countries worldwide where similar initiatives can be launched,” Global CEO of Enel Green Power Salvatore Bernabei said.

Hydrogen today is too expensive for widespread use but as costs come down governments round the world are looking to it to replace fossil fuels in sectors where electrification is not an easy solution.

Chile has said up to 20% of its CO2 reduction by 2050 will be made possible through cost-effective green hydrogen.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *


About us

InvestLab is a financial services technology company focused on the global trading market. Founded in 2010 in Hong Kong, the company develops trading, market data, and social research products that enable individual investors and small to mid-size brokers to access global markets. We provide brokers and financial institutions cross border capabilities for retail investors into 43 markets globally.


CONTACT US

CALL US ANYTIME