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TRANSITIONAL ENERGY GROUP AND HIVE ENERGY ENTER A JOINT VENTURE FOR THE DEVELOPMENT OF THE 3+GW GENTE GRANDE, GREEN AMMONIA PROJECT IN TIERRA DEL FUEGO, CHILE

2/23/2023

Producing ~1.3 mtpa in green ammonia, the project will exploit the region’s unique wind resource to provide a low-cost, high-volume ammonia supply hub for customers across Asia, Europe and the Americas.

Transitional Energy Group’s (TEG) partnership with Hive Energy concludes a US$20m funding round which has also been supported by private investors as well as the middle East construction leader, CCC. It marks Hive’s 3rd project announcement in the green Ammonia space and brings the Hive project pipeline in green Hydrogen to over 15GW.

The funds will cover all costs for the pre-construction phase of the project, including the environmental assessments already in progress, permitting and preliminary engineering, ensuring “ready to build” status can be achieved by late 2024. Project development is managed by TEG Chile

who are responsible for all aspects of the project and supported by world-class technical partners such as Petrofac, Wood Group and ISP.

Sited on Tierra del Fuego along the Magellan Straits the Gente Grande Project combines an exceptional wind climate with a large area of uninhabited flat land, deepwater port facilities, and quayside areas for production and storage facilities.

Setting this project apart is the regions wind resource, which ranks among the finest in the world and is the focus of multiple project initiatives by international energy players. TEG’s Gente Grande project is at the vanguard of these developments, having started on-site wind monitoring in August 2021 and whole site permitting in August 2022.

The project is now engaging with offtake partners interested in securing a reliable low cost, high volume green ammonia supply option that can offer a competitive delivered price to almost any location on earth.

Commenting on the news the partners said:

“TEG has been building partnerships around the Gente Grande project in Chile for several years and is delighted to be joined by Hive to conclude the fund raising needed for the next phase of development. Hive’s global network, proven renewables track record and shared values make an excellent fit for the project and we are proud to have them as partners.” Roland Fisher, Chairman, TEG.

“Hive Energy is passionate about creating a greener future, contributing to decarbonisation, and achieving our net zero ambition. We are scaling up our activities in green hydrogen/ammonia production globally and are very excited to partner with TEG for this development in Chile.

We believe establishing low cost, high volume green ammonia supply is critical if we are to decarbonise transport, the energy sector and other hard-to-abate or energy-intensive industries. The combination of a world class wind resource, deep local partnerships and a proven committed management team give us great confidence that Gente Grande can be an important new supply point to a global customer base” Giles Redpath, Founder, Hive Energy