Glenfarne Energy Transition to Collaborate with Samsung Engineering on Green Hydrogen and Ammonia Initiatives in Chile
Green Pegasus is the first of several Chilean projects to be jointly developed and advanced by the companies
NEW YORK & SEOUL, South Korea & SANTIAGO, Chile–(BUSINESS WIRE)–Glenfarne Energy Transition, LLC (“Glenfarne”), together with its affiliates, today announces the execution and launch of a collaboration agreement with Samsung Engineering (“Samsung Engineering”) to complete feasibility studies for multiple green hydrogen and ammonia projects in Chile as part of Glenfarne’s recently announced Hydrogen Fuels Initiative.
Hydrogen-based fuels use hydrogen as the primary source of energy and generate little to no greenhouse gas emissions. They have a wide variety of applications across different industries, making them a versatile supplement to fossil fuels.
“Glenfarne Energy Transition is thrilled to be strategically collaborating with Samsung Engineering on hydrogen fuels projects that will be vital to advancing the energy transition in Chile, Asia, and Europe,” said Brendan Duval, CEO and Founder of Glenfarne Energy Transition, LLC. “We see great potential for green hydrogen and ammonia from Chile to help further global decarbonization and achieve energy security.”
Green Pegasus, the first project being developed as part of the agreement, will have up to two gigawatts (“GW”) of solar PV installed capacity and is estimated to produce 459 kilotons (“kton”) of green ammonia and 89 kton of green hydrogen annually. Green Pegasus will primarily focus on export to Asia, particularly South Korea, and Europe, where Glenfarne maintains several business and commercial partners.
About Glenfarne Energy Transition
Glenfarne Energy Transition is a wholly owned subsidiary of Glenfarne Group, a privately held energy and infrastructure development and management firm based in New York City and Houston, Texas, with offices in Dallas, Texas; Panama City, Panama; Santiago, Chile; Bogota, Colombia; Barcelona, Spain; and Seoul, South Korea. Glenfarne Energy Transition aims to address the “here and now” global energy transition through three core businesses: Global LNG Solutions, Renewables, and Grid Stability. The company’s seasoned executives, asset managers, and operators develop, acquire, manage, and operate energy infrastructure assets throughout North and South America. For more information, please visit www.GlenfarneEnergyTransition.com.
About Samsung Engineering Co., Ltd
At Samsung Engineering, we aim to create value based on the world’s best technological competence and contribute to our clients, society, and people. At Samsung Engineering, we aim to create value based on the world’s best technological competence and contribute to our clients, society, and people. As one of the world’s leading EPC&PM companies, Samsung Engineering has served clients in diverse industries such as oil-refining, gas-processing, petrochemicals, infrastructure & environmental sector, and bio-industry. Providing professional services across the whole project cycle ranging from professional feasibility studies to design, procurement, construction, commissioning, maintenance & operation. Samsung Engineering has completed more than 1,000 projects worldwide.
To prepare for ESG-based eco-friendly businesses for the future, we expanded our value chain to the business of operating green infrastructure, such as water treatment facilities and incinerators, and green solution business for energy optimization and carbon neutrality. To preemptively respond to changes in the global energy industry and take the lead in resolving global warming, we will provide optimal solutions based on our technologies and expertise.
Contacts
Kris Cole
Pro-glenfarne@prosek.com
(310) 652-1411
