Uruguay’s energy transition is now the best element for green hydrogen production and consumption, which will give investment opportunities for the country.

The Uruguay XXI Institute and the Ministry of Industry, Energy, and Mining are the two organizations in charge of constructing this new facility.

Ines Bonicelli, president of the Uruguay XXI Institute, estimates that such an energy shift might result in future investments of at least US$6 billion.

The new initiative would aid in the government’s commitment to sustainability, the decarbonization of the economy, and the payment of interest on the nation’s foreign debt.

The roadmap for the development of green hydrogen in Uruguay was presented by the government of President Luis Lacalle Pou in June. According to Environment Minister Adrián Pea, by 2040, annual hydrogen production might reach a million tons.

By then, this sector’s contribution to the estimated Gross Domestic Product would be 2%. (GDP).