Uruguay has launched its green hydrogen roadmap that will see the country aim to install 20GW of renewables as well as 10GW of electrolysers by 2040.
The ministry of industry, energy and mining (MIEM) is eyeing for the country’s green hydrogen industry to have a turnover of more than US$2.1 billion by 2040, coming mainly from the export of hydrogen and green fuels.
By 2025, Uruguay aims to reach 200-500MW of renewables for hydrogen production, with the first pilot projects aimed at the transport industry and export, before installing 2-4GW by 2030.
Moreover, the production cost of green hydrogen in the country by 2030 is expected to drop to US$1.2-1.4/kg, positioning it near prices of other important green hydrogen markets like Spain, Australia and Algeria.
“We are hoping this is the beginning of a long work that will change the production profile of the country in a positive way. From our understanding, this is a great opportunity,” said Omar Paganini, minister of industry, energy and mining.
Earlier this year Uruguay launched a US$10 million fund to promote green hydrogen projects in the next ten years and received ten applications which are currently being processed.