Thursday, Sep 16, 2021
International Finance
Energy Featured

Chile is on its way to become a green hydrogen hub

international-finance-chile-green-hydrogen
The country launched a long-term green hydrogen strategy to capitalise on surplus renewable energy capacity

Chile is on its way to becoming a powerhouse for green hydrogen . The latin giant has recently launched a long-term green hydrogen strategy to capitalise on surplus renewable energy capacity and diversify its exports in the coming years. This in turn will ensure that it meets its emission goals.

It is reported that the country has a capacity to produce 25mn t/yr of green hydrogen by 2050. If the strategy is realised then the country will be able to reduce greenhouse gas emissions by 25 percent and meet its 2050 carbon-neutral target.

Energy Minister Juan Carlos Jobet on presenting the strategy said, “Green hydrogen is a strategic opportunity for Chile. Our country is the ideal place to produce and export green hydrogen and its derivatives, including ammonia, methanol and synthetic fuels.”

Renewable hydrogen is becoming a popular alternative to fossil fuels globally. Several countries including those in Europe are taking advantage of its potential to beat fossil fuels as part of their greater vision to become a zero-carbon economy.

That said, France’s Engie and Chile’s Enaex are working on a green ammonia project in the northern Antofagasta region. It is reported that the project is based on 1GW of solar, which is slated for launch in 2024. Currently, Chile prides itself on renewable energy projects worth $28.6 billion. Of these projects, 49pc are under construction and 51pc are waiting for environmental permits.

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.