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Argentina seeks to promote millionaire investments in hydrogen production

Buenos Aires, Sep 12 (EFE). – Argentina presented this Tuesday its strategic plan to promote the hydrogen sector, with the objective of reaching production of 5 million tons per year and investments of 90 billion dollars by 2050.

“The energy transition opens up an opportunity for us, but it is necessary to twist the natural course that limits the participation of countries with abundance and quality of resources to the role of mere exporters of raw materials. We must know how to take advantage of the country’s industrial and technological capabilities, which They are our competitive differential,” said the Secretary of Strategic Affairs of Argentina, Mercedes Marcó del Pont, when presenting the plan.

The National Strategy for the Development of the Hydrogen Economy outlines lines of action and long-term goals to generate certainty around the development path of the low-emission hydrogen economy.

“The geographical, industrial and scientific peculiarities of Argentina position it in a privileged place when it comes to being able to face the industrialization of hydrogen and become an international supplier of this new source of energy,” said the Secretary of Energy of Argentina, Flavia Royon.

The roadmap presented suggests that by 2050 Argentina will have a total domestic production of at least 5 million tons per year of low-emission hydrogen.

20% of this production will be destined for the domestic market, both for the current uses of hydrogen (steel, petrochemical and refining industries) and to meet new uses (mainly synthetic fuels).

The remaining 80% will be destined for export.

To achieve these production goals, it will be necessary to install at least 30 gigawatts of electrolysis capacity and 55 gigawatts of renewable electricity generation, which implies multiplying current renewable energy generation by 11 and more than doubling the total electricity generation in Argentina.

In addition, the plan foresees that a strong transformation of the infrastructure will be necessary, mainly road corridors and ports.

“The deployment of the new activity will result in the creation of more than 80 thousand qualified jobs,” highlights the roadmap.

Regarding investments, the goal foreseen in the strategy compatible with the expected production is around 90,000 million dollars.

“In this sense, an active policy of seeking investments and promoting the opportunities offered by the country is essential to establish Argentina in world markets as a safe and reliable supplier of hydrogen, ammonia and low-emission synthetic fuels,” points out the plan.

Last May, the Argentine Executive sent to Congress a bill for the Promotion of Low Carbon Hydrogen and Other Greenhouse Gases, an initiative that is still waiting to be debated.

The largest investment project in the sector so far is the one announced in 2021 by the Australian company Fortescue to produce green hydrogen in the southern province of Río Negro, with expected disbursements of $8.4 billion. EFE


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