Oppenhoff advises AustriaEnergy on large-scale green hydrogen and green ammonia Power-to-X HNH Project in Chile with CIP

Oppenhoff has advised the AustriaEnergy Group on the complex structuring of a cutting edge Power-to-X joint venture with its partner Ökowind and the Danish fund management company Copenhagen Infrastructure Partners (CIP). The joint venture’s purpose is the joint ownership and joint development of the HNH Project in the region of Magallanes in the south of Chile.

The HNH Project is one of the world's largest projects for the production of green hydrogen and green ammonia with an expected investment size of over USD 3 billion. Once operational, the project will consist of a 1.7 GW onshore wind farm, electrolysers, ammonia plant and port facility. The project is expected to produce approximately 1,000,000 metric tons of green ammonia per year. 

The HNH Project is a very relevant building block in Chile's green hydrogen strategy, which aims to make the country a global leader in the production of green hydrogen/green ammonia. The last edition of Bloomberg’s Climatoscope 2021 ranked Chile as one of the world’s most attractive emerging markets for energy transition investment.

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 was founded in 2003 and since then has become well-known in the Austrian wind energy industry.

CIP, headquartered in Copenhagen, Denmark, is one of the world's largest specialised fund managers for sustainable investments for the development of renewable energy infrastructure.

The Oppenhoff team, led by Edder Cifuentes (Chilean law), included Alf Baars, Simon Sawert (all Corporate / M&A / Energy and Infrastructure / Latin America Desk) and Dr. Wolfgang Kotzur (Financing). For matters of Chilean law Austria Energy was also advised by Barros & Errázuriz and Mena & Guijón (both Santiago) and on Danish law matters, by Gorrissen Federspiel (Aarhus).

With the landmark HNH Project, Oppenhoff and its Latin America Desk extends its track record of large-scale renewable energy projects in Chile, having advised until now on projects totaling more than 2 GWp.

The Latin America Desk of Oppenhoff advises regularly companies and economic groups from Germany and Austria (DACH) in regard with their business activities and investment projects in Latin America and has been an active participant in the inter-regional economic developments of the last years, with special focus in the Latin-American growing markets of renewable energies, infrastructure and venture capital. 

Oppenhoff regularly advises clients from the energy sector, most recently for example on the sale of the Sunovis Group to Brookfield and EnBW and RheinEnergie on the sale of their MVV shares to First State Investments.

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Edder Cifuentes<br/>M.L.B.

Edder Cifuentes

PartnerAbogado (Chile)

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