Fitzgerald Cantero Piali, the country’s national energy director, acknowledged that new renewable generation will be needed and that the combination of wind and solar is the best option for this.
With a practically decarbonized electricity matrix, Uruguay has already set its sights on its second energy transition, the expansion of the renewable generation park to meet new demand and the production of green hydrogen.
So much so that Fitzgerald Cantero Piali, Uruguay’s national director of Energy, acknowledged that there are several programs and projects underway, including interest in H2V and the possibilities of renewable energy storage for when the system requires it.
During the Latam Future Energy Southern Cone mega-event, the official predicted that there are between 8 and 10 projects interested in joining the Green Hydrogen Sector Fund, which was launched at the end of March this year.
“At the same time, there is the H2V roadmap (published last month), where we are committing different aspects and measures that allow the eradication of investments for the production of this energy vector. And there is already interest from some countries and foreign companies in the generation of renewable energy for the production of H2V and the export of the same,” he assured.
Along the same lines, Fitzgerald Cantero Piali said that, despite the fact that the matrix is more than 90% renewable, new investments will be needed for the production of this energy vector. He added that “the combination of hybrid generation, i.e. wind and solar, is the best alternative”.
It should be recalled that, according to the latest records shared by the Uruguayan government, there is 4.93 GW of installed capacity in the country, of which hydroelectric and wind represent 31% each, thermoelectric, 24%; biomass another 9% and solar, 5%.
In addition, there is a project in the agricultural sector, “where Uruguay has a very important focus on the economic base”, based on the application and use of energy surpluses as an aspect that is being explored.
Although to this should be added the interest in having “offers and viable options” for the accumulation of renewable energy, at the same time that leverage is provided for investment in the energy sector through an “important” tool such as the Renewable Energy Innovation Fund (REIF).
This initiative has the participation of the Ministry of Industry, Energy and Mining, the Ministry of Environment, the Planning and Budget Office and the National Administration of Power Plants and Electric Transmissions (UTE).
It will be a financial instrument that combines funds from the United Nations and private banks to support companies through flexible credits adapted to the challenges of carrying out innovative and sustainable investments.
