TotalEnergies H2 has unveiled an ambitious green hydrogen project in Chile's Magallanes region, marking the seventh green hydrogen sector initiative in the country to enter the environmental review phase. The US$16.0bn project, branded as H2 Magallanes, aims to produce derivative green ammonia, which can be utilized as a fertilizer feedstock and fuel. With construction set to begin in early 2027 and operations expected by the end of 2030, the project contributes to Chile's increasing investment in green hydrogen. The project includes a 5GW wind park, gas-fired backup power plants, electrolysis centers, and desalination facilities, highlighting the extensive infrastructure development involved. Despite the positive momentum, challenges such as cost reduction and offtaker agreements persist for green hydrogen developers. Additionally, plans for future phases include further capacity expansion and infrastructure enhancements, subject to technological advancements and industry development. The growing interest in green hydrogen is evident from the numerous projects under evaluation in Chile, with a market consolidation expected to prioritize robust initiatives. The article highlights the evolution of Chile's green hydrogen industry and the investment opportunities it presents, emphasizing the importance of sustainable energy solutions in the region.