Ecopetrol to invest $2,5M in hydrogen by 2040

A crucial component of the country’s and the region’s energy transition is Ecopetrol. They describe themselves as “the most significant conglomerate in Colombia, whose objective is to serve as a benchmark for the American continent’s transition.”

One of the objectives is to allocate US$2,500 million for hydrogen research and to include 900 Megawatts of renewable energy sources for self-consumption by 2025.

The business emphasized that by stating its intention to decrease net carbon emissions to zero by 2050, it achieved a significant milestone in 2021. Generally speaking, Ecopetrol introduced “Energy that changes,” a strategy that aims to be implemented through the year 2024.

The goal is to further diversify the energy and low emissions portfolio such that the key transitional industries will account for the majority of its Ebitda in 2040.

Ecopetrol promised that it will implement its strategic plan for the creation of low-emission hydrogen in 2021. By 2040, investments in this sense will be close to US$2,500 million. Sustainable transportation will also be a recurring theme on Ecopetrol’s agenda, along with a bet on the deployment of its own operations using hydrogen for industrial projects.

The company will look to decarbonize operations between 2030 and 2040, diversify the use of hydrogen in the maritime and aviation industries, and investigate new business prospects in Europe and Asia.

The oil business emphasized that it has three solar parks operating with a combined 1080 MWp capacity: Castilla, San Fernando, and Brisas, each with a 108 MWp generation capacity, making it the greatest self-generator of renewable energy in the nation. Parks are anticipated to open in the Caribbean, the Eastern Plains, and Magdalena Medio this year. The objective is to use 900 Megawatts of renewable energy for self-consumption in 2025.

In order to protect the nation’s energy security and sovereignty, Acosta promised that the transition would not take place in less than 12 years. The transformation, according to Fonseca, might take up to fifty years and will be influenced by consumer choices.

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