As a net importer of fuels, Chile has not been a significant player in global energy markets. But the sun-drenched, wind-rich South American country aims to become a titan in the burgeoning green hydrogen economy, setting a goal to become one of the world’s top three exporters by 2040.
The hydrogen economy is still taking shape, and the world is waiting for the costs of the technology to fall. In the meantime, the Chilean government is offering up its country as a laboratory of sorts. Multinational companies are taking up the offer, looking to use Chile’s rich renewable energy resources to make breakthroughs in green hydrogen and take advantage of potential government subsidies.
Chilean President Sebastian Piñera’s outgoing administration launched its National Green Hydrogen Strategy in November 2020. The goal is to have 5 GW of electrolysis capacity under development by 2025 and to create the cheapest green hydrogen on the planet by 2030.
“Green hydrogen will enable us to export our renewable energy to a world that is quickly progressing toward decarbonization and that needs affordable clean energy,” Piñera said in announcing the hydrogen strategy.
[Justin Horwath, David Feliba ]