Investors are developing or evaluating at least seven green hydrogen projects in Uruguay including, HIF Global’s proposed $4 billion synthetic gasoline plant, Mula said in an interview. Developing green hydrogen will add to Uruguay’s role as a regional leader for clean energy.
Those investments and legacy hydroelectric dams allow Uruguay to generate almost all of its power from renewable sources — as long as the weather is wet and windy. “We can focus our laws, promotional efforts to directly develop this new energy sector,” Mula said, referring to green hydrogen.
In this context, Uruguay is committing to consolidate a green hydrogen and derivates industry that, according to its 2040 strategy, could reach a turnover of US$ 1900 million per year and more than 30,000 quality jobs.
Uruguay is competing with regional peers like Chile and Brazil for money to make synthetic fuels and chemicals from green hydrogen — produced by splitting water molecules with renewable power — for export markets like the European Union.
Uruguay’s Green Hydrogen and Derivatives Roadmap under consultation until August 15, 2023. Its final version is now published.
Photovoltaic panels in Constancia, Uruguay. Photographer: Mariana Greif Etchebehere/Bloomberg Uruguay’s renewable energy sector still has room to run with multi-billion dollar plans to build synthetic fuel plants and as data centers are set to boost demand for wind and solar power, said Marcelo Mula, who heads the trade group Auder.
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