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Chile wants to produce world’s cheapest green hydrogen by 2030

Chile wants to produce world’s cheapest green hydrogen by 2030

Chile wants to produce the cheapest green hydrogen on the planet before the end of this decade and be among the world’s top three exporters by 2040, President Sebastián Piñera said on Tuesday (3rd Nov).

Unveiling the Chilean Government’s national hydrogen strategy at the inauguration of the virtual Green Hydrogen Summit, Piñera affirmed, “Hydrogen will allow us to bet on a balanced development throughout the country, as well as promote the growth of our human capital, generating an engine of progress and economic reactivation.

“Green hydrogen will allow us to export our renewable energies to a world that is moving rapidly towards decarbonisation and that needs clean and affordable energy.”

Energy Minister Juan Carlos Jobet then detailed the strategy which has three main objectives: produce the cheapest green hydrogen on the planet by 2030, be among the top three exporters by 2040 and have 5GW of electrolysis capacity under development by 2025.

“Green hydrogen is a strategic opportunity for Chile,” Jobet said.

“Our country is the ideal place to produce and export green hydrogen and its derivatives, including ammonia, methanol and synthetic fuels.”

“Various analysis, including those of the International Energy Agency (IEA) and McKinsey & Company, show that Chile’s enormous wealth of renewable energies would allow it to produce the most competitive green hydrogen on the planet and on a large scale.”

A concrete action plan has been drawn up to accelerate the deployment of green hydrogen in key national applications by 2025 and enter the export market by 2030.

Among them, the realisation of a $50m funding round for green hydrogen projects.

A task force will also be set up to monitor the process and development of green hydrogen pilots and its derivatives.

Chile’s hydrogen strategy can be read in full here.


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