Chile has emerged as one of Latin America’s most advanced green hydrogen markets, driven by bold government targets and an abundance of renewable resources. In 2020, Chile launched its National Hydrogen Strategy, aiming to produce 1 million tonnes of green hydrogen per year by 2030, with a total of 25GW of expected electrolysis capacity. Thanks to its exceptional solar radiation in the Atacama Desert and strong winds in the Magallanes region, Chile has positioned itself as a potential cost leader market in the global green hydrogen race, targeting production costs of under US$1.5 per kilogram by the end of the decade.

Leveraging this strong renewables’ potential, the country is home to some of the largest green hydrogen projects in the world. Recently, TotalEnergies’ led project in the Southern region of Magallanes, called H2 Magallanes, has entered its regulatory approval process with the Chilean evaluation service. The project is estimated to feature a CAPEX of US$16.3bn and up to 11GW of electrolyser capacity, powered by a 5GW wind farm, making it one of the largest announced investments in the country.
In parallel, Chile has seen rapid growth in battery energy storage systems (BESS), both as standalone ventures and co-developed with renewable energy projects.

Energy storage is increasingly seen as a strategic complement to intermittent renewables, improving grid stability and enabling greater flexibility. One of the most prominent examples is the Oasis de Atacama project, which is already partially operational and is being developed in seven phases. Once fully built, the project is expected to deliver a total storage capacity of up to 11GWh, making it one of the largest of its kind in Latin America.

Chile’s energy transition is supported by an ambitious pipeline of more than 230 renewable energy projects, totaling over 60 GW of planned capacity and involving investments exceeding US$78bn. In the storage segment, the country has already announced over 120 BESS projects, amounting to more than 90 GWh of capacity and representing an estimated US$20bn in investments. These developments underscore the country’s growing role as a leader not only in renewable power generation, but also in next-generation energy infrastructure across Latin America, offering a wealth of opportunities for the energy supply chain.