{"id":89764,"date":"2025-05-09T00:00:00","date_gmt":"2025-05-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2025\/05\/09\/totalenergies-eyes-chile-for-usd-16-bn-project\/"},"modified":"2025-05-09T00:00:00","modified_gmt":"2025-05-09T00:00:00","slug":"totalenergies-eyes-chile-for-usd-16-bn-project","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2025\/05\/09\/totalenergies-eyes-chile-for-usd-16-bn-project\/","title":{"rendered":"TotalEnergies eyes chile for USD 16 bn project"},"content":{"rendered":"

<\/strong>TotalEnergies <\/strong>seeks permit for USD 16 bn hydrogen project:<\/strong> Chile\u2019s TEC H2 MAG \u2014 a subsidiary of energy giant TotalEnergies \u2014 is seeking to clinch environmental permits for a USD 16 bn green hydrogen and ammonia project in Chile, Reuters<\/a> reported on Monday. The project comprises a wind farm, a desalination plant, an ammonia plant, maritime infrastructure for shipping, and seven electrolysis centers for green hydrogen. Construction will begin in 2027 and operations are set for 2030.<\/p>\n

IN OTHER CHILE NEWS- Chinese <\/strong>firms <\/strong>pull the plug on Lithium processing plans: <\/strong>Chinese EV maker BYD and metals group Tsingshan are withdrawing from plans to build lithium iron phosphate (LFP) cathode plants in Chile, Reuters<\/a> reported on Wednesday, citing gov\u2019t agency the Production Development Corporation (Corfo)<\/a>. The two companies had been selected in 2023 for a preferential lithium pricing agreement aimed at spurring investment in the sector. Chile is the world\u2019s second-largest lithium producer.<\/p>\n

Plunging lithium prices drove the exits<\/strong>, Reuters added citing Corfo. Tsingshan told Reuters it withdrew plans for a USD 233 mn plant to produce 120k metric tons of LFP annually, while BYD also filed an intent to withdraw from its planned USD 290 mn plant to produce 50k metric tons of LFP in January, Corfo told Reuters. <\/p>\n

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Vietnamese EV maker VinFast has secured an IDR 1.85 tn (USD 110 mn) syndicated loan <\/strong>facility to finance the construction of its <\/strong>EV manufacturing plant<\/a><\/strong> in Indonesia<\/strong>, according to a press release<\/a> from last week. Indonesian bank BNI \u2014 the underwriter and lead arranger of the funding \u2014 will provide IDR 1.51 tn (USD 90 mn) of the total amount while Maybank will supply the rest. The loan agreement includes an additional USD 80 mn as a possible extension facility.<\/p>\n

REMEMBER- The region has shown interest in VinFast: <\/strong>Vingroup signed an MoU in March with private equity fund JTA Investment Qatar to explore an equity investment of at least USD 1 bn<\/a> in VinFast. Emirates Driving Company was also reported in October to be leading a consortium<\/a> of investors to explore providing VinFast with at least USD 1 bn in funding. The EV maker established its regional headquarters<\/a> in Dubai with assistance from the Dubai last year.<\/p>\n

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