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FACTS AND FIGURES
Latin America is launching projects and green hydrogen, with countries looking to the fuel as a key part of their energy transition and decarbonization goals
Chile could produce up to 160 megatons per year of green hydrogen and become the leading low cost exporter by 2040, when the local market will be worth an estimated $33 B, including $24 B, in exports.
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The energy sector accounts for 43% of all emissions in Latin America and the Caribbean, according to World Bank data. The transformation of energy mixes is therefore an unavoidable reality, if the region’s countries are to meet their obligations of the Paris Agreement and attempts to limit global warming to 1.5C above pre industrial levels.
Colombia´s government has pledged to reduce Greenhouse Gas emissions by 51% by 2030 compared to 2010 levels.
Argentina is keen to develop a green hydrogen export hub for developed nations. The country could produce as much as 7.5 million tonnes of green hydrogen per year. According to the Ministry of Production, this could amount to US $15 B in hydrogen exports by 2050.
Chile aims to become a green hydrogen powerhouse, a new energy strategy is based on the country’s great wind and solar power potential, which would enable it to produce low cost hydrogen fuel. The Government has committed US $50 M in financing to encourage the development of pilot projects.
Colombia, Ecopetrol’s oil refinery in Cartagena, the company started a pilot test of green hydrogen production Uruguay’s government hopes to advance in the expansion of electric mobility and at the same time define the first green hydrogen pilot projects, today in high demand for freight transport. The goal is to start producing green hydrogen in 2025, according to its own roadmap.
Costa Rica aims to have a decarbonized economy by 2050. This commitment has been embodied in the Nationally Determined Contribution (NDC) published in 2020, which among its mitigation goals establishes that the country will develop a strategy for the development and promotion of green hydrogen.
