Green Hydrogen - Latin America
Green hydrogen has gained exponential popularity to reduce GHG emissions. Countries and oil and gas companies are now revisiting their GHG policies and framework to include green hydrogen as a fuel in their energy mix to meet the target set in Paris Agreement to keep global warming not more than 1.5o C. Within the global context, Latin American countries are developing their framework to produce green hydrogen. These countries will play a pivotal role in growing the market as they have immense potential for renewable power generation based on their geography.
There are ten green Hydrogen facilities operating across Latin America as of 2022, and 87 projects at various completion stages expected to come online by 2040. The current green hydrogen capacity in the region is 57.5 thousand tons per annum (MTPA), and based on the projects in the pipeline, the total capacity would reach 7,271 MTPA by 2040.
Source: Stratas Advisors
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