The team planning one of Latin America’s largest wind farms to power major green ammonia production said the $8bn project could be “ready to build” by late next year after a new investment round secured key backers.

Transitional Energy Group (TEG) and new joint venture partner Hive Energy, the UK-based renewables developer, want to site 3.3GW of wind power in Tierra del Fuego, Chile, linked to hydrogen electrolysis and ammonia production for export from the project, called Gente Grande.