The Central Bank of the Argentine Republic (BCRA) has projected substantial investments in renewable energy projects, including green hydrogen, over the next decade.
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The recent announcement by EU Commissioner for Energy Kadri Simson and Argentina’s Secretary of Energy Eduardo Rodríguez Chirillo marks a significant step in advancing the EU-Argentina Memorandum of Understanding (MOU) on renewable energy and hydrogen.
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The European Commission and Argentina have signed a non-binding agreement aimed at ensuring a stable supply of liquefied natural gas (LNG) to Europe in exchange for cooperation on green energy initiatives and addressing gas leakage issues.
Argentina’s aspirations in the green hydrogen sector have received a significant boost with the announcement that its renewable hydrogen industry is poised to benefit from a portion of the €10 billion ($10.9 billion) mega-fund allocated by the European Union (EU) to develop sustainable supply chains in Latin America and the Caribbean.
Argentina is set to impose a requirement that green hydrogen project developers source a significant portion of their equipment from the country in order to receive subsidies.
The Argentine government has taken a significant step towards promoting the adoption of green hydrogen and Liquefied Natural Gas (LNG) technologies.
Argentine President Alberto Fernández has acknowledged potential complications in the Fortescue green hydrogen project, citing difficulties arising from the additional conditions requested by the Australian company.
In order to contribute to the creation of a “complete national strategy” for low emissions hydrogen, the Secretariat of Strategic Affairs of Argentina established the “Intersectoral Hydrogen Table,” a public-private venue, under the auspices of the Economic and Social Council.
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