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1、In collaboration with AccentureAccelerating the Clean Hydrogen Economy in LatinAmericaI N S I G H T R E P O R TA U G U S T 2 0 2 4Images:Getty Images,MidjourneyDisclaimer This document is published by the World Economic Forum as a contribution to a project,insight area or interaction.The findings,in

2、terpretations and conclusions expressed herein are a result of a collaborative process facilitated and endorsed by the World Economic Forum but whose results do not necessarily represent the views of the World Economic Forum,nor the entirety of its Members,Partners or other stakeholders.2024 World E

3、conomic Forum.All rights reserved.No part of this publication may be reproduced or transmitted in any form or by any means,including photocopying and recording,or by any information storage and retrieval system.ContentsForeword 3Executive summary 4Introduction 81 Latin America in a global context 91

4、.1 Clean hydrogen the global context 101.2 Renewable energy can unlock Latin Americas 12 clean hydrogen future 1.3 Three potential pathways for Latin American countries 162 Challenges to overcome in Latin America 202.1 Accelerating Clean Hydrogen Framework 212.2 Challenges across six dimensions 223

5、Enabling measures for Latin America 283.1 Roadmap of enabling measures 293.2 Key success factors:regional collaboration and coordination 32Conclusion 34Appendix:Country profiles 35Argentina 38Brazil 40Chile 42Colombia 44Mexico 46Panama 48Uruguay 50Contributors 52Endnotes 53Accelerating the Clean Hyd

6、rogen Economy in LatinAmerica2ForewordLast year was the warmest year on record,with global average temperatures 1.45 Celsius above the pre-industrial baseline,according to the World Meteorological Organization.1 With the past decade also the warmest on record,the quest to find sustainable solutions

7、to address climate change and reduce emissions has become paramount.As nations across the globe commit to ambitious decarbonization goals,the pursuit of cleaner energy sources has taken centre stage.In the journey to achieve net-zero emissions objectives,clean hydrogen stands out as a promising aven

8、ue.In the next decades,clean hydrogen could play an important role in meeting global energy demand,while contributing in the region of 10%of emissions reductions by 2050.2 It will play a critical role in decarbonizing hard-to-abate sectors(e.g.steel and chemicals)where alternatives cannot fully deca

9、rbonize.At the same time in the wider energy ecosystem,it can provide a means of long-duration energy storage complementing intermittent renewables.Latin America,with its vast installed and potential renewable energy capacity,is poised to play a key role in advancing the clean hydrogen economy.The r

10、egion can leverage its abundant solar,wind and hydroelectric resources to become a key player in the global clean hydrogen export market.Furthermore,investment in clean hydrogen infrastructure could help address energy security concerns and drive economic growth across the region.It is worth noting

11、that uncertainties and complexities persist regarding the future of clean hydrogen markets,such as the development of cost-effective technologies and market competitiveness.To realize the potential of the clean hydrogen economy in Latin America,coordinated and decisive efforts are required.The urgen

12、cy of the moment demands that governments,investors and businesses act with responsibility and ambition:Governments must move faster to create policy frameworks that provide incentives for investment and facilitate international collaboration,to accelerate the deployment of clean hydrogen technologi

13、es.Strategic investments from both public and private sectors are vital to reduce the costs of production and prices for end-users,allowing clean hydrogen to compete with grey hydrogen and other alternative fuels.Businesses must embrace innovation,invest in research and development and forge strong

14、and reliable partnerships to drive the transition towards a sustainable hydrogen economy.While lessons learned from other regions of the world can provide a beneficial framework,regional nuances must be accounted for.As the region embarks on this transformative journey,it is essential that all actor

15、s approach the challenges ahead with resolve,optimism and a shared commitment to building a more sustainable world for future generations.We invite you to delve deeper into the pages of this report,which we hope provides valuable insights into the opportunities and pathways to accelerate the clean h

16、ydrogen economy in Latin America.We thank all community members,stakeholders and corporate leaders for their time and contributions to this report;and we look forward to continuing our collaboration as we navigate clean hydrogen challenges and solutions to deliver on a cleaner future.Roberto Bocca H

17、ead of Centre for Energy and Materials;Member of the Executive Committee,World Economic ForumAndrs Rebolledo Executive Director;Latin American Energy Organization,OLADEMuqsit Ashraf Group Chief Executive,Accenture StrategyAccelerating the Clean Hydrogen Economy in LatinAmericaAugust 2024Marisol Argu

18、eta de Barillas Head of the Regional Agenda,Latin America;Member of the Executive Committee,World Economic ForumAccelerating the Clean Hydrogen Economy in LatinAmerica3Executive summaryIn the global decarbonization landscape,clean hydrogen has become a crucial element for the energy transition.Given

19、 its potential to reduce global greenhouse gas(GHG)emissions in hard-to-abate sectors,such as heavy industry and long-distance transport,clean hydrogen has been gaining traction worldwide.Economies can foster its development through incentives and pilot projects that showcase the benefits of clean h

20、ydrogen,promote its production and encourage its demand.Latin America,with its vast potential in renewable resources(solar,wind and hydro power)can unlock clean hydrogen production at competitive cost,positioning it to become a major clean hydrogen-exporting region and hence a central player in the

21、global clean hydrogen economy.Depending on their intrinsic characteristics,countries within the region have different short-and medium-term clean hydrogen economy development strategies and ambitions.As such,they may follow one of three potential pathways:net exporters,local decarbonizers,or focused

22、 players:Net exporters are countries whose focus is beyond domestic demand,aiming to trade most of their produced clean hydrogen in international markets.They seek to become globally competitive players through cost-effectiveness and the development of necessary trade infrastructure and certificatio

23、n schemes.Local decarbonizers are countries that are focused first on utilizing clean hydrogen to decarbonize their own economies and meet emission reduction targets,leaving exports to a later stage.Focused players adopt a more targeted approach to the development of clean hydrogen,focusing on its r

24、ole complementing existing fuels or energy technologies in a particular application,such as shipping.These countries will prioritize actions that strengthen their position in relation to particular sectors or end-use applications.The World Economic Forum,in collaboration with Accenture,supports the

25、ambitions of Latin America to become a central clean hydrogen player through the Transitioning Industrial Clusters Initiative,which works with stakeholders across industry,policy and finance to accelerate the clean hydrogen economy in the region.The aim of this report is to identify the challenges a

26、nd key enablers to the development of the clean hydrogen economy in Latin America,as well as to establish the current maturity level of countries in the region regarding clean hydrogen.Challenges facing the development of the clean hydrogen economy in Latin AmericaWhile there is great potential to a

27、ccelerate the clean hydrogen economy and become a net exporter in the long term,the regions main challenges are as follows:1 Low demand:Demand for clean hydrogen remains low for both local consumption and exports.Only a small number of offtake agreements are in place and few projects are reaching fi

28、nal investment decisions(FIDs).2 Slow pace of building dedicated infrastructure:Countries have announced several clean hydrogen hubs across the region,but few are under construction or aligned to market creation opportunities.3 Technology adaptation and workforce development:The region is still high

29、ly dependent on international manufacturers for key components(e.g.electrolysers).Technology adaptation to local requirements is needed and the sector must develop local highly skilled talent to support further growth.4 High cost preventing competitiveness:Despite competitive prices for renewable en

30、ergy,there remains a large cost differential between clean hydrogen and conventional/grey hydrogen.Industries and markets are still unwilling to pay the price premium.5 Lack of standards and certification:While regional certification schemes for carbon attributes have advanced rapidly,the region nee

31、ds a common definition of standards and guidelines to ensure the safe and reliable production,storage and transportation of clean hydrogen and its derivatives.As these regional schemes advance,they will need to integrate with global standards and certifications.Accelerating the Clean Hydrogen Econom

32、y in LatinAmerica4Enabling measures and key success factors to develop the clean hydrogen economyTo address the challenges outlined above,this report defines a series of objectives and enabling measures across six dimensions:1)standards and certifications,2)cost,3)technology and talent,4)demand,5)in

33、frastructure and 6)pace of development.These enabling measures,while aimed primarily at governments and policy-makers,also require the participation of other actors in the value chain,including infrastructure,technology,finance and offtakers.The first three sets of enabling measures below are cross-

34、cutting,while the second three differ by pathway for net exporters,local decarbonizers and focused players.Standards and certificationsRegional agreements and partnerships are needed to agree definitions for the technical,safety and carbon intensity standards and certifications of the clean hydrogen

35、 production value chain,including its derivatives.This approach is needed both to standardize regulations and accelerate their implementation in countries across the region.A“sandbox”approach can be utilized to rapidly test and deploy required regulations.CostTo reduce the high costs that prevent cl

36、ean hydrogen from being price-competitive,targeted government support is needed through well-balanced incentives for clean hydrogen projects across the value chain.Collaboration between nearby industries around sharing resources,for example through industrial clusters,could lead to cost reductions t

37、hrough aggregation of demand and opportunities for scale,while supporting financing.Technology and talentOne of the main objectives across the region is to focus innovation and research and development(R&D)on scaling-up the technology needed across the clean hydrogen value chain(e.g.electrolysers,ca

38、rbon capture and storage).For this to happen,greater funding is needed to establish research centres to ensure local technology development.Training programmes to upskill and reskill technical talent are required to support these technology advancements.DemandEnabling measures to drive demand vary b

39、etween the three defined pathways,as follows:Net exporters must seek to develop early international demand,through signing long-term trade agreements with offtakers and defining operating rules for international trade.Local decarbonizers need to drive strong local demand for clean hydrogen.Industria

40、l clusters can play a key role in aggregating demand and reducing offtaking risk.Focused players need to drive demand from the target sector they have defined to serve,for example by signing memorandums of understanding(MOUs),commercializing the technology and testing their value proposition.Infrast

41、ructureAlthough all countries in the region must expand or adjust their infrastructure to develop their clean hydrogen economies,there are different enabling measures for each pathway:Net exporters should focus their efforts on ports and transportation capabilities.Local decarbonizers should focus o

42、n creating centralized infrastructure,such as clean hydrogen hubs in strategic locations to streamline the production,distribution and internal consumption processes.Focused players should adapt and repurpose their current infrastructure for specific uses,such as localized refuelling stations to boo

43、st consumption.Pace of developmentTo accelerate the development of clean hydrogen economies,different enabling measures apply to each pathway:Net exporters must boost resource efficiency by coordinating the development of key infrastructure along the value chain with offtakers,promote knowledge shar

44、ing and propose innovative financing mechanisms.Local decarbonizers must coordinate the ecosystem of actors across the value chain,anchored by industrial clusters.Focused players need to design and test their value proposition to potential offtakers,involving them in the co-creation process.Accelera

45、ting the Clean Hydrogen Economy in LatinAmerica5Regional collaboration and coordination the key success factorCollaboration and coordination at both international and regional levels are key success factors in executing these enabling measures,exploiting synergies and advancing the clean hydrogen ec

46、onomy.Regional collaboration is especially important for Latin America opportunities include:1 Identifying regional synergies and opportunities to work togetherIn an industry that requires enormous scale and investment,working collaboratively can help distribute required efforts and risk,as well as

47、create market consolidation and stability by aggregating regional supply and demand(e.g.through industrial clusters).Similarly it can help accelerate technology and infrastructure R&D by identifying mutual interests.2 Developing and aligning on regulatory frameworks and certification schemes Global

48、and regional collaboration can accelerate and improve the effectiveness of appropriate regulatory frameworks and associated certification schemes.Learning from existing regulations and certifications,while adapting them to the Latin American context in a way that respects international standards,can

49、 create efficiency and synergy across the region and the world.To achieve this,both regional and international collaboration are equally imperative.3 Fostering global cooperation and sharing insights Regular communication with other nations can help countries gain an in-depth understanding of the ch

50、allenges and bottlenecks facing the development of clean hydrogen.Fostering dialogue is crucial to share best practices and lessons learned,to build a platform from which to advocate for regional requirements,and to obtain support through multilateral organizations or partnerships with other nations

51、.34 Pursuing an inclusive clean hydrogen economy approachAt a national and regional level,it is important to involve all relevant stakeholders that may be impacted by the development of the clean hydrogen economy.To ensure an inclusive and sustainable transition,it is crucial to convene stakeholders

52、 including ministries,industry and businesses,financial institutions,academic and research organizations,local communities and non-governmental organizations(NGOs)to share their perspectives,concerns and needs.4 5 Supporting citizens as the clean hydrogen economy emergesPublic acceptance for new tec

53、hnology adoption is crucial to maintain and secure the social licence to operate.Public awareness campaigns can help advocate for the role of clean hydrogen in the energy transition and its benefits for local communities.Additionally,collaboration with neighbouring countries to improve the regions v

54、isibility and promote it as an important clean hydrogen production hub could help attract greater international investment and support.Overview of regional progressWhile the challenges and enabling measures relate to the region,the clean hydrogen landscape in each country differs widely.Given the po

55、tential for renewable energy in the region,most countries anticipate that renewable/green hydrogen will see greater development compared to blue hydrogen (see Box 1 for definitions).This report provides a detailed analysis of the clean hydrogen landscape in Argentina,Brazil,Chile,Colombia,Mexico,Pan

56、ama and Uruguay.The main highlights by country are as follows:Argentina expects that by 2030 more than 80%of its renewable/green hydrogen demand will come from international markets.The countrys National Strategy for the Development of the Hydrogen Economy,published in 2023,seeks to take advantage o

57、f its abundant renewable resources(including the largest potential for photovoltaic energy production globally)and strategically positioned ports that will be adapted for clean hydrogen exports.Argentina expects to renovate nine of its 16 ports by 2030 and aims to develop at least five clean hydroge

58、n hubs.Brazil published its National Hydrogen Program(PNH2)in 2022.The purpose of PNH2 is to boost the clean hydrogen market and industry as an energy vector in Brazil,highlighting its relevance in the countrys energy transition and in achieving net zero by 2050.To accelerate progress,Brazil is inve

59、sting in infrastructure for a renewable/green hydrogen hub at Pecm Port,while a Brazil-Netherlands maritime corridor is being established to facilitate renewable/green hydrogen exports to Europe.Chile published its National Green Hydrogen Strategy in 2020,the first such strategy in the region,with t

60、he objective of becoming a frontrunner in renewable/green hydrogen production and export.Accelerating the Clean Hydrogen Economy in LatinAmerica6Chile has the potential to produce the worlds cheapest renewable/green hydrogen by 2050,5 by exploiting its potential for more than 1,800 GW of installed r

61、enewable energy capacity by 2050 70 times the demand from domestic internal consumption.6 The government has drawn up a regulatory framework and fast-tracked three pilot initiatives for renewable/green hydrogen technology in production,mining and transport.Colombia made an early start with its Hydro

62、gen Roadmap in 2021.The government is committed to decarbonization and the creation of public policies that promote the adoption of clean hydrogen at the local level.The country expects to improve its production capacity and infrastructure with 28 projects in the pipeline and six potential hubs oper

63、ational in different regions by 2050.Mexico has not yet created a national strategy to develop the clean hydrogen economy.To date,the Mexican Hydrogen Association has led the way,publishing a renewable/green hydrogen roadmap up to 2050 to promote investment in developing renewable/green hydrogen to

64、decarbonize the national economy.Most of the demand is forecast to come from the industrial and transportation sectors.Mexico has nine projects in development,all harnessing dedicated renewable energy sources for renewable/green hydrogen and ammonia production.Panama published its National Strategy

65、for Green Hydrogen and Derivatives(ENHIVE is its Spanish acronym)in 2023.The countrys main goal is to develop its port infrastructure and become a major hub for green refuelling for the maritime sector,where clean hydrogen plays a key role.Panama has one project underway at the feasibility study sta

66、ge(SGP BioEnergys bio-refinery),which aims to be operational by 2025 with a target of producing 405,000 tonnes of renewable/green hydrogen per year.Uruguay released its Green Hydrogen Roadmap in 2022,to help boost domestic demand for fuels such as ammonia and low-emission e-methanol for maritime tra

67、nsport.Uruguay is committed to integrating renewable/green hydrogen into its energy mix,by taking advantage of its logistics infrastructure and its experience in terms of regulation,legal requirements and political stability gained while developing renewables.The country is progressing with four pro

68、jects focused on renewable energy sources for hydrogen and synthetic fuel production.Accelerating the Clean Hydrogen Economy in LatinAmerica7IntroductionThe development of the clean hydrogen economy is crucial for the fulfilment of decarbonization goals and the success of the energy transition aroun

69、d the world.Clean hydrogen holds great potential as a means to decarbonizehard-to-abate sectors,being both a clean energy carrier and a clean feedstock substitute for diverse industrial processes.In recognition of this opportunity,Latin American countries have started the journey towards developing

70、their clean hydrogen economies.Leveraging their excess renewable energy capacity,most countries in the region have set out their ambitions and are beginning to execute.While following different pathways,the region as a whole aims at becoming a net clean hydrogen exporter by 2050.This report provides

71、 a comprehensive summary of the current state of the clean hydrogen economy in Latin America.Informed by consultations with key industry stakeholders and governmental organizations,this report describes the challenges and enabling measures that,if realized,could accelerate the production and use of

72、clean hydrogen across the region.This report is structured as follows:Chapter 1:explores the regions role in the global clean hydrogen economy,its potential and the pathways likely to be followed by each of the seven countries.Chapter 2:provides insights into the challenges facing the development of

73、 the clean hydrogen economy in Latin America.Chapter 3:describes the enabling measures and key success factors to accelerate the development of the clean hydrogen economy.Conclusion:provides the reports final insights.Appendix:provides an in-depth view of seven prioritized countries with the highest

74、 potential to develop clean hydrogen in the region.The methodology followed to build the report consisted of both desk research and engagement with key stakeholders.The desk research included reviewing available reports,policies,laws,national strategies and roadmaps on current hydrogen development.T

75、his analysis was complemented by one-on-one interviews and focus groups with regional private and public stakeholders to validate findings on challenges and enabling measures.Finally,collaborative sessions were held to consolidate insights into lessons learned across the region and to identify and p

76、romote opportunities for cooperation.Clean hydrogen definitionBOX 1“Clean hydrogen”refers to hydrogen produced through the following two methods:Produced from water by electrolysis,powered from renewable sources known as“renewable”or“green”hydrogen.Produced from natural gas by a process of steam met

77、hane reforming(SMR),in conjunction with carbon capture and storage(CCS)abbreviated to SMR+CCS and known as“blue”hydrogen.Both have significantly reduced emissions compared to conventional“grey”hydrogen.Green hydrogen is the most sustainable and preferred pathway,while blue hydrogen can contribute to

78、wards a rapid shift away from unabated fossil fuels.Accelerating the Clean Hydrogen Economy in LatinAmerica8Latin America in a global context1Clean hydrogen can play a key role within the global energy transition.Accelerating the Clean Hydrogen Economy in LatinAmerica9Given its potential to reduce t

79、he use of fossil fuels,clean hydrogen has been gaining traction as a crucial element to reduce global greenhouse gas(GHG)emissions in hard-to-abate sectors,such as aviation,shipping,trucking,aluminium,cement/concrete and steel,which account for around 25%of global GHG emissions(see Figure 1).While i

80、n industry,clean hydrogen can function both as a feedstock substitute in processes and as a heat source,it also plays a role as an energy carrier in heavy-duty transportation.Share of selected hard-to-abate sectors in global greenhouse gas emissionsFIGURE 1SteelCement/ConcreteAluminiumAviationShippi

81、ngTruckingOther sectors Selected hard-to-abate sectors 25%of global GHG emissions75%3%2%4%2%6%8%Source:World Economic Forum.7 1.1 Clean hydrogen the global contextAccelerating the Clean Hydrogen Economy in LatinAmerica10Clean hydrogenElectrificationEnergy efficiencyFossil fuel-based CCUSRenewable en

82、ergy-based CO2 removals(BECCS)Renewables10%6%14%25%25%20%Moreover,at a global level,clean hydrogen is among the six leading technological avenues for reducing emissions.The technology could potentially contribute to around 10%of the emissions reductions required to reach net zero by 2050(see Figure

83、2).Global net-zero emissions reduction contributions of six technological avenues,by 2050FIGURE 2Notes:CCUS=Carbon capture,utilization&storage;BECCS=Bioenergy with carbon capture&storage.Source:Inter-American Development Bank,2023.8 Clean hydrogen could contribute to around 10%of the emissions reduc

84、tions required to reach net zero by 2050.Accelerating the Clean Hydrogen Economy in LatinAmerica111.2 Renewable energy can unlock Latin Americas clean hydrogen futureAs a region endowed with vast renewable energy resources,Latin America is poised to become a significant clean hydrogen player in the

85、coming years.In the period 2017-2022,renewable electricity capacity in Latin America grew by 81.7 GW,while it is forecast to grow by 154.5 GW in the period 2023-2028(see Figure 3).Solar and wind power are projected to be the main drivers of this growth.The continents abundant renewable energy capaci

86、ty enables Latin America to be competitive in one of the key cost drivers of clean hydrogen production.This is a significant advantage,as renewable electricity accounts for 60%to 75%of the total production cost of clean hydrogen globally.10The advantage becomes evident in the differences between the

87、 regional and global“levelized cost of hydrogen”(LCOH)for renewable/green hydrogen.In Latin America,the current LCOH of renewable/green hydrogen is$3.70$5.90/kg(2020 prices),11 lower than the current global LCOH of$3.80$8.50/kg(2021 prices).12Global renewable electricity capacity growth by region,20

88、05-2028FIGURE 30100200300400500Gigawatts(GW)EuropeanUnionUnited StatesIndiaLatinAmericaMENA*Sub-SaharanAfricaOthercountriesASEAN*2005-20102011-20162017-20222023-2028Notes:*ASEAN=Association of Southeast Asian Nations;*MENA=Middle East and North Africa.Source:IEA,2024.9Renewable electricity accounts

89、for 60%75%of the total production cost of clean hydrogen globally.Accelerating the Clean Hydrogen Economy in LatinAmerica12As shown in Figure 4,the regions levelized cost of renewable/green hydrogen by 2030 is forecast to be particularly low for production in the south of Argentina and Chile,north-w

90、estern Brazil and northern Colombia and Venezuela.Global levelized cost of renewable/green hydrogen,by 2030FIGURE 4Levelized cost of renewable/green hydrogen($/kg H2)1.52.02.53.03.54.0Source:IEA,2021.13Accelerating the Clean Hydrogen Economy in LatinAmerica13These favourable conditions of high renew

91、able energy capacity and low cost of clean hydrogen production can position the region as a potential net exporter to global markets,both in the medium-and long-term.By 2030,the region may fulfil 25%to 33%of global demand,competing with Australia(22%31%)and Africa(9%14%).14 By 2050,Latin America is

92、predicted to be exporting clean hydrogen mainly to Europe and Asia,as reflected in Figure 5.To fulfil its potential and to capitalize on this opportunity,Latin America has been working on developing the required infrastructure.To date,11 potential clean hydrogen hubs16 have been identified across th

93、e region,in countries including Chile,Brazil and Panama(see Figure 6).At the same time,other potential exporting regions are working towards the same goal for example,the United States(US)has announced 10 hubs,while Australia has announced seven.17Expected global clean hydrogen trade flows and regio

94、nal roles,by 2050FIGURE 5Region consumes more than it producesNeutralRegion produces more than it consumesMostly ShippedMostly PipedAlternative potential flows if optimal sources constrained20 Mt1-5 Mt5-10 Mt10-20 MtNet trade flows,million tonnes(Mt)of hydrogen per annumSource:Hydrogen Council,2022.

95、15 Accelerating the Clean Hydrogen Economy in LatinAmerica14Potential clean hydrogen hubs in Latin AmericaFIGURE 61110234567891UruguayArgentinaChileColombia PanamaBrazilTrinidad and TobagoMexicoCurrent key hubsPotential key hubsSource:Inter-American Development Bank,2023.18 In summary,when compared

96、with other regions,the clean hydrogen economy landscape in Latin America looks promising.The region is well-endowed with cost-competitive renewable energy resources that position it as net exporter by 2050.Nonetheless,other potential competitor regions are progressing as well,so it is important for

97、Latin America to accelerate in this sector to build competitive advantage in the coming years.The following section explores the different pathways that countries in the region could follow and the challenges they will need to overcome to maximize the opportunities offered by the clean hydrogen econ

98、omy.Accelerating the Clean Hydrogen Economy in LatinAmerica151.3 Three potential pathways for Latin American countriesWhile the region is likely to become a net exporter of clean hydrogen in the long run,countries within the region have different clean hydrogen development strategies and ambitions,w

99、hich could see them follow one of three potential pathways:Net exporters Local decarbonizers Focused playersThis report allocates selected countries in the region to one of the three pathways,based on an analysis of their national hydrogen roadmaps and other relevant announcements(see Figure 7).Thes

100、e pathways are not intended to define a fixed route for each country nor to oversimplify the multiple efforts of countries now and in the future to transform their energy economies.The value of defining and allocating pathways is that it allows countries to prioritize key actions,based on their diff

101、ering short-,medium-and long-term goals.The main characteristics of each pathway are detailed below.Potential clean hydrogen economy pathways for Latin American countries FIGURE 7MexicoUruguayArgentinaChileColombia PanamaBrazilNet exportersLocal decarbonizersFocused playersOut of scopeAccelerating t

102、he Clean Hydrogen Economy in LatinAmerica16Net exporters Countries that follow the net exporters pathway have strategies aimed at trading the majority of their clean hydrogen production to international markets.Roadmaps for countries within this category seek to position themselves as relevant globa

103、l competitive players.To achieve this,they have focused initial efforts beyond production and are incentivizing the construction of dedicated clean hydrogen export infrastructure including ports and clean hydrogen hubs that will help reduce transportation costs and improve price competitiveness.More

104、over,they have adopted certification schemes aligned to international standards,rather than creating national ones.They have built research centres and developed alliances(national,regional and international)to advance commercial agreements specifically focused on clean hydrogen trading.These net ex

105、porters have planned for a clean hydrogen economy that takes advantage of their countrys current capabilities and maximizes them for competitiveness in markets where demand is growing.Nevertheless,it is important to note that while these countries are focusing on exports,they are also targeting dome

106、stic sectors that will in turn contribute to national decarbonization goals and support the development of the domestic clean hydrogen economy.Two countries in the region have demonstrated ambition to become net exporters:Chile and Argentina.ChileChile,which has the potential to produce the worlds c

107、heapest renewable/green hydrogen by 2050,offers an example of the projected pathway of a net exporter.With the potential for more than 1,800 GW of installed renewable energy capacity by 2050(70 times the countrys demand for internal consumption),19 Chile has the ambition to become a frontrunner in t

108、he race.In 2020,it was the first country in the region to publish a National Green Hydrogen Strategy and it has already reviewed that strategy to focus on execution at scale.Chile has captured$550 million of multilateral investment in clean hydrogen projects,$150 million from the World Bank20 and$40

109、0 million from the Inter-American Development Bank.21 In collaboration with the German government,Siemens Energy is developing the worlds first integrated commercial installation to produce climate-neutral fuel near the Patagonian city of Punta Arenas.In addition,the government is progressing the ra

110、tification of a trade agreement with the European Union(EU)that will allow clean hydrogen to be traded freely.ArgentinaDisplaying similar ambition,Argentina expects that by 2030 more than 80%of its demand for clean hydrogen will come from international markets.To implement its National Strategy for

111、the Development of the Hydrogen Economy,published in 2023,the country is leveraging its abundant renewable resources(including the worlds largest photovoltaic energy potential)and its 16 strategically positioned ports,which can be adapted for clean hydrogen exports.Argentina expects to renovate nine

112、 of these ports by 2030 and aims to develop at least five clean hydrogen hubs.The Argentinian government is making progress in creating policies and standards.Lately,the“Promotion of Low Carbon Hydrogen and Other Greenhouse Gas Emissions”bill was passed with the purpose of promoting clean hydrogen p

113、roduction projects,organizing governance of the sector and encouraging productive and technological development along the entire value chain.Two countries in the region have demonstrated ambition to become net exporters:Chile and Argentina.Accelerating the Clean Hydrogen Economy in LatinAmerica17Loc

114、al decarbonizersThe short-and medium-term goals for countries aligned to this pathway are mostly focused on decarbonizing the national economy and meeting emissions reduction targets,prioritizing a local clean hydrogen market and leaving exports to a later stage.To achieve this,local decarbonizers s

115、eek to replace conventional/grey hydrogen and enable new uses in hard-to-abate sectors through piloting solutions with clean hydrogen.These countries have not yet set clear demand projections for international markets and their confirmed projects seek to increase production capacity to meet future l

116、ocal demand and drive domestic consumption by reducing cost through government incentives.Countries that follow this pathway have or are developing national certifications for clean hydrogen with standards that can be different for domestic and international markets.This allows them to customize sta

117、ndards to meet local requirements,while also ensuring compliance with international standards and facilitating future commercialization to other markets.Three countries in the region have demonstrated ambition to become local decarbonizers:Brazil,Colombia and Mexico.BrazilBrazil,whose National Hydro

118、gen Program(PNH)does not establish specific goals for clean hydrogen production and use,has nevertheless established clean hydrogen as central to the countrys energy transition to achieve net zero by 2050.Through PNH,the government has framed public policies and financial mechanisms including tax re

119、lief,green finance and dedicated funds for renewables to increase the competitiveness of the clean hydrogen sector.Through this approach,the government seeks to position Brazil as the country with the lowest production costs for clean hydrogen in the world by 2030,by which time approximately 60%of t

120、he countrys total clean hydrogen supply is expected to be consumed domestically.Although the countrys main near-term policies are aimed at boosting domestic demand,the Ministry of Mines and Energy expects the country to be a major global hydrogen exporter by 2050.To further this vision,a joint ventu

121、re between the Port of Pecm,in the State of Cear,and the Port of Rotterdam is investing in building infrastructure for a renewable/green hydrogen hub at Pecm and a Brazil-Netherlands maritime corridor to facilitate the export of renewable/green hydrogen to Europe.ColombiaColombia,situated between tw

122、o oceans,with a water supply six times the world average,22 10 port areas,plus wind and solar potential along its coastlines,has the potential to become an important global clean hydrogen logistics hub.However,the countrys near-term ambition is to decarbonize its economy through steering clean hydro

123、gen production towards industrial and transportation applications.By 2050,the government expects 40%of the hydrogen consumed by the industrial sector to be clean hydrogen.23Colombias commitment to decarbonization is reflected in its public policies,which seek to boost domestic clean hydrogen consump

124、tion and reduce production costs by offering fiscal benefits associated with emissions reductions.One example is Law 2099 of 2021,which prioritizes investments from the non-conventional energy and efficient energy management fund(FENOGE)according to their impact on reducing emissions.MexicoMexico ha

125、s favourable conditions to produce clean hydrogen,given its robust power and gas transmission networks,and hydro power,solar PV and wind plants.However,the country has not yet established a national strategy to develop a clean hydrogen economy.Even though there is no national hydrogen strategy,effor

126、ts have been led by the Mexican Hydrogen Association,which forecast that by 2030 most of the demand for clean hydrogen will come from the industrial sector(e.g.glass,cement,chemicals),while by 2050 most demand will come from the transportation sector.The country is progressing with nine projects tha

127、t all harness dedicated renewable energy sources to produce renewable/green hydrogen and ammonia.Three countries in the region have demonstrated ambition to become local decarbonizers:Brazil,Colombia and Mexico.Accelerating the Clean Hydrogen Economy in LatinAmerica18Focused playersFocused players a

128、re those that have a much more targeted approach to the development of clean hydrogen.Countries following this pathway have limited the scope of hydrogen to a specific role where it complements an existing offering;consequently they will prioritize actions that further strengthen their position in t

129、hat domain.PanamaPanama is a leading example of a focused player.In light of its strategic location as a logistics hub astride the Atlantic and Pacific Oceans,the country as part of its National Strategy for Green Hydrogen and Derivatives(ENHIVE)launched in January 2024 has designed a masterplan to

130、create an industrial hub to produce,import,export and trade clean energy sources for the maritime sector.The plan focuses on bunkering products made with clean hydrogen,such as green ammonia and e-methanol.To date,the country has one project underway at the feasibility study stage(SGP BioEnergys bio

131、-refinery),which aims to be operational by 2025 with a target of producing 405,000 tonnes of renewable/green hydrogen per year.Panama is also preparing a detailed study on the potential demand for green ammonia,e-methanol and renewable/green hydrogen to fuel ocean-going vessels transiting the Panama

132、 Canal,with growth projections for 2030,2040 and 2050.UruguayUruguays strategy for developing a clean hydrogen economy is focused on supplying local demand for fuels,such as hydrogen for trucking and low-emission ammonia and e-methanol for maritime transport.In its most optimistic local demand scena

133、rio,Uruguay predicts that hydrogen fuel-cells will power approximately 3%of heavy-duty vehicles by 2030,increasing to 35%by 2050.The country is moving forward with four projects,each at various stages of development and focusing on renewable energy sources for clean hydrogen and synthetic fuel produ

134、ction.For example,the H24U project,previously known as Proyecto Verne,is at the feasibility study stage,aiming to be operational by 2025 with a target of installing 5 MW of clean hydrogen production capacity.Meanwhile,the Paysandu green hydrogen project,also at the feasibility study stage,has set it

135、s sights much higher:by 2026,it is planning to produce 256 million litres of eGasoline per year(using 100,000 tonnes of renewable/green hydrogen).24 Focused players are countries that have limited the scope of hydrogen to a specific role where it complements an existing offering.Two countries in the

136、 region have demonstrated focused ambition:Panama and Uruguay19Accelerating the Clean Hydrogen Economy in LatinAmericaChallenges to overcome in Latin America2Demand is still lagging for both domestic and export markets,while dedicated clean hydrogen infrastructure and technology advancements are req

137、uired to accelerate the pace.Accelerating the Clean Hydrogen Economy in LatinAmerica20Despite the regions potential to become an important player and net exporter in the global clean hydrogen economy,Latin America faces a variety of barriers.From low demand and scarce local infrastructure to technol

138、ogy challenges and high costs,the journey to develop the clean hydrogen economy remains highly uncertain.This chapter applies the Accelerating Clean Hydrogen Framework(developed by the World Economic Forum in collaboration with Accenture)to review the challenges hampering the progress of the clean h

139、ydrogen sector in the region.In applying this framework to Latin America,differences and commonalities at a country level can be identified.2.1 Accelerating Clean Hydrogen Framework Standards and certification Cost Technology and talent Demand Infrastructure Pace of developmentFor each dimension,hig

140、h-level objectives define the priority actions required to overcome the barriers within that dimension that impede the acceleration of the clean hydrogen economy in Latin America(see Figure 8).The Accelerating Clean Hydrogen Framework provides six dimensions through which to analyse the current stat

141、e of Latin Americas clean hydrogen economy:World Economic Forums Accelerating Clean Hydrogen FrameworkFIGURE 8Cross-cutting challenges Pathway-specific challenges Standards&certificationsEnsure clarity on carbon intensity,safety and technical standards and certifications for projects across the valu

142、e chain.DemandDrive critical mass demand through major clean hydrogen projects to ensure high supply.Leverage domestic and international targets to create stable,long-term demand.InfrastructureAlign clean hydrogen hubs and infrastructure with market creation,ensuring first ramp-up of“no regret”infra

143、structure:clean electricity,CCS,transport,storage,conversion and trade facilities.Pace of developmentAccelerate slow pace of clean hydrogen scale-up and development to drive economies of scale,coordinating the ecosystem.Technology&talentFocus on innovation and R&D to improve bankability and cost,eff

144、iciency and durability of electrolysers,renewables and CCS.Adapt workforce and skills to deploy new technologies.CostRemove cost and regulatory barriers for production and support the bankability of projects for investors.Clean hydrogen accelerationStandards&certificationsCostTechnology&talentInfras

145、tructureDemandPace ofdevelopmentObjectivesAccelerating the Clean Hydrogen Economy in LatinAmerica212.2 Challenges across six dimensionsThe following sections analyse the challenges the Latin America region faces in each of the six dimensions outlined in the Accelerating Clean Hydrogen Framework.The

146、first three dimensions standards and certification,cost,technology and talent display commonalities across the three clean hydrogen development pathways and therefore do not require differentiated analysis.However,the second three dimensions demand,infrastructure,pace of development require a differ

147、entiated analysis that addresses the particularities of each pathway.Cross-cutting challenges Standards and certification There have been important efforts in the Latin America region to establish standards that enable the development of the clean hydrogen economy as well as efforts to build clean h

148、ydrogen certification schemes.The main challenges relate to:Lack of standards for production and utilization of clean hydrogen:this generates uncertainty for producers,offtakers and investors in the region.The absence of even minimal regulation creates loopholes and uncertainties around required pro

149、cesses to be followed.Lack of alignment between domestic and international standards:some countries in the region either have no certification schemes in place or are building domestic schemes that are not aligned to international standards.This not only threatens the legitimacy of the clean hydroge

150、n being produced,but also creates barriers to offtakers in managing differences from one country to another in the region.CostClean hydrogen production is not yet cost-competitive in comparison to conventional/grey hydrogen and other fossil fuel alternatives;consequently the business case for invest

151、ing in clean hydrogen is not yet sufficiently convincing.The two main variables driving the production cost of clean hydrogen are:Cost of electrolysers:In 2022,the average global cost of electrolysers ranged from$1,400 to$1,770 per kWe.25 By 2030,this cost is expected to be 3.5 times lower.26 Despit

152、e this encouraging global trend,current prices present a challenge for large-scale clean hydrogen projects in Latin America.Cost of renewable energy generation:Although the cost of renewable energy,both wind and solar,has decreased by more than 70%globally over the past decade,the levelized cost of

153、electricity(LCOE)must continue to decrease to ensure a competitive cost for clean hydrogen against its conventional/grey alternative.According to the International Renewable Energy Agency(IRENA),27 electricity costs of$0.02/kWh are needed for competitive hydrogen production.While some Latin American

154、 countries like Mexico,Uruguay and Brazil had achieved a LCOE between$0.02/kWh and$0.05/kWh for onshore wind electricity generation by 2022,this is not yet the case across the board.28 70%drop in renewable energy costs globally in past decade electricity at$0.02/kWh needed for competitive H2 product

155、ion.Accelerating the Clean Hydrogen Economy in LatinAmerica22In addition to these two main cost variables,costs along the entire value chain need to be taken into account,such as for construction,operating,maintenance and transportation.A lack of public policy to incentivize investment and improve p

156、roject bankability in Latin America has hampered the development of clean hydrogen projects.While governments in other regions provide investors,producers and offtakers with incentives to develop and utilize clean hydrogen,such as fiscal incentives and government financing,Latin America still lags b

157、ehind in the robust policies needed to encourage development in the sector.Technology and talentTo increase the feasibility of clean hydrogens usage as a central component in the energy transition,there needs to be further development in the effectiveness and availability of technology,such as elect

158、rolysers and carbon capture and storage(CCS),as well as investment in the right skills to operate that technology.Globally,there is scale-up underway for clean hydrogen technology.While the global announced electrolyser manufacturing capacity was around 10 GW/year in 2021,by 2030 it is predicted to

159、be over 130 GW/year.Europe and China will be the largest manufacturers by the end of the decade(see Figure 9).Improvements in electrolyser efficiency,as well as CCS and infrastructure,are required to unlock the full potential of a clean hydrogen economy.Latin America is subject to specific operation

160、al conditions,such as poor water quality,which could affect the efficiency and effectiveness of technology that has been developed elsewhere.For example,an important distributor of natural gas in Colombias north-east measured just 35%effectiveness of an imported electrolyser at one of its pilot proj

161、ects.As this case shows,electrolysers need to be adapted to the regions particular characteristics,where largely saline water sources requiring desalinization may affect the effectiveness of existing technologies and increase costs.29 Domestic research and development(R&D)is needed to adapt emerging

162、 technologies to local conditions,both in production and offtake.Latin America currently faces key challenges in terms of the availability of a skilled workforce equipped with the necessary capabilities across the clean hydrogen value chain.In a survey conducted by the Institute of the Americas in 2

163、022,when asked about the main elements limiting current workforce participation in the energy transition,“lack of the right skills”was mentioned by around 25%of respondents.30Global announced electrolyser manufacturing capacity in GW/year,2021-2030FIGURE 9501001500202320222021.2030EuropeChinaNorth A

164、mericaIndiaRest of the worldUnspecifiedGigawatts(GW)Source:IEA,2022.31 Global announced electrolyser manufacturing capacity was 10 GW/yr in 2021 by 2030 it is predicted to be 130+GW/yr.Accelerating the Clean Hydrogen Economy in LatinAmerica23Pathway-specific challenges DemandAccording to IRENA,32 gl

165、obal demand for hydrogen,mostly clean hydrogen,will not take off until 2035.Moreover,the global trend suggests that by 2050,two-thirds of production is projected to meet domestic demand,while the remaining one-third will be for export.Latin America faces challenges to foster demand development to ma

166、tch potential supply.Depending on their specific pathways,Latin American countries face different concerns.Net exporters:Net exporters need to address international demand and secure international offtakers to ensure their role in global trade dynamics.Even with global projected demand,Latin America

167、 lacks sufficient signed offtake agreements to secure demand and provide strong certainty to emerging clean hydrogen suppliers.As clean hydrogen gains prominence,countries will compete for market share.Net exporters need to ensure they can produce sufficient quantities of clean hydrogen at very low

168、prices to gain and maintain competitiveness in global markets.It is essential to reduce prices,particularly of transport and storage technologies.Developing sufficient supply capacity to provide a reliable source of clean hydrogen for importing nations will be an important challenge to overcome.Chal

169、lenges regarding regulation compliance and alignment with international standards will arise if production methods do not align with international regulations.Local decarbonizers:Insufficient local demand will prevent the acceleration of these countries domestic clean hydrogen economies.Local decarb

170、onizers need to understand the challenges that hard-to-abate industries face in developing clean hydrogen adoption.The required acceleration in switching local demand from conventional/grey hydrogen to clean hydrogen must come from growth in existing uses(e.g.refining,ammonia,methanol),as well as fr

171、om the development of new uses(e.g.transport,iron and steel,cement)see Figure 10.Focused players:In the case of focused players,there is high uncertainty around the number and consistency of potential customers and specific use-cases for clean hydrogen,both in the short-and long-term.Given that the

172、adoption of technologies that enable the use of clean hydrogen requires investment from customers to adapt their existing assets and/or machinery,frictions around this process could impede the growth in demand for clean hydrogen.24Accelerating the Clean Hydrogen Economy in LatinAmericaHydrogen deman

173、d in Latin America,million tonnes(Mt),2019-2030FIGURE 10Mt H2/year012345674.10.30.50.40.30.20.70.36.82019 demandGrowth in existing uses by 2030Growth in new uses by 20302030 demand(accelerated case)RefiningNH3 productionMeOH productionDirect reduced ironTransportIron and steelCement1.31.20.41.2Notes

174、:NH3=ammonia,MeOH=methanol.Source:IEA,2021.33 InfrastructureCurrent and new uses of hydrogen require infrastructure and technology development.There is a significant lack of dedicated infrastructure for the transportation and storage of clean hydrogen,posing a key obstacle for the industrys developm

175、ent.Moreover,with the projected rising demand for clean hydrogen across various sectors in upcoming decades,the development of broader clean hydrogen transport networks,potentially cross-border,will be necessary to meet this growing demand.34 Net exporters:Net exporters need to develop dedicated inf

176、rastructure for clean hydrogen exports (e.g.with regard to transportation technologies and ports).Latin America has an immature clean hydrogen infrastructure that needs to be developed and scaled-up.Transportation infrastructure is one of the biggest challenges countries face to fully develop their

177、clean hydrogen value chains.Existing infrastructure can provide a basis to begin developing the clean hydrogen value chain:for example,Latin America has numerous operational and announced port infrastructure projects for trading ammonia and methanol(see Figure 11).However,this will not be sufficient

178、 to fulfil the future needs of the clean hydrogen economy.Although Latin America can leverage its existing oil and gas(O&G)infrastructure and retrofit for hydrogen transportation,the feasibility of these changes and its cost efficiency is still to be tested and depends largely on technology developm

179、ent.Accelerating the Clean Hydrogen Economy in LatinAmerica25Global existing and announced port infrastructure projects for clean hydrogen and hydrogen-based fuel tradeFIGURE 11AmmoniaGaseous H2Liquefied H2MethanolOperationalAnnouncedSource:IEA,2023.35Local decarbonizers:Local decarbonizers face sig

180、nificant challenges due to the lack of centralized infrastructure to easily integrate the clean hydrogen value chain.This hinders the scalability and cost-effectiveness of clean hydrogen projects in the region,impeding the sectors potential to contribute to decarbonization efforts and sustainable de

181、velopment.Focused players:Focused players need to adapt their existing infrastructure for clean hydrogen production to maximize their current advantages,which may include beneficial geographic location or industry strengths(e.g.maritime and aviation).These adaptations are necessary to enable efficie

182、nt production,transportation and storage of clean hydrogen,as well as to facilitate its integration into other sectors.Any adaptations of existing infrastructure will need to comply with global quality and safety standards.Significant challenges include assessing the feasibility of adapting existing

183、 infrastructure as well as addressing the absence of suitable infrastructure.Pace of developmentGreater coordination between ecosystem actors is needed to drive economies of scale and accelerate the development of the clean hydrogen economy.Net exporters:Lack of collaboration between key actors in e

184、xport markets is hindering project acceleration and the establishment of offtake agreements.An absence of effective coordination between public and private sectors poses a significant challenge to the expansion of the clean hydrogen export economy in Latin America.Without strong collaboration,the pi

185、peline of clean hydrogen projects may be blocked by delays in regulatory approvals,difficulties in accessing finance and a lack of clarity around offtake agreements.Without strong collaboration,the pipeline of clean hydrogen projects may be blocked by delays in regulatory approvals,difficulties in a

186、ccessing finance and a lack of clarity around offtake agreements.Accelerating the Clean Hydrogen Economy in LatinAmerica26 Addressing these challenges and fostering a cohesive partnership between the public and private sectors are crucial to accelerate the development and deployment of clean hydroge

187、n initiatives,enabling Latin America to fully leverage its potential as an exporter.Local decarbonizers:Local decarbonizers require different actors to coordinate across the value chain to accelerate the integration of clean hydrogen into key industries.Countries face a challenge in synchronizing ac

188、tion across different players in the value chain,particularly between suppliers,current and future industry offtakers and policy-makers.Achieving coordination requires strategic planning,regulatory support and timely investments.Focused players:Given these countries target specific markets or stages

189、 of the clean hydrogen value chain,it is critical for them to design and deliver competitive value propositions to potential offtakers.Overcoming technical and infrastructure barriers for safe and efficient clean hydrogen production,as well as securing sufficient investment,are key obstacles that mu

190、st be addressed.Greater attention must be given to the essential task of building collaboration among stakeholders,including maritime and aviation companies,technology providers,regulatory bodies and investors.Accelerating the Clean Hydrogen Economy in LatinAmerica27Enabling measures for Latin Ameri

191、ca3To overcome current challenges and pivot from piloting to execution at scale,key enabling measures need to be prioritized.Accelerating the Clean Hydrogen Economy in LatinAmerica283.1 Roadmap of enabling measuresUsing the World Economic Forums Accelerating Clean Hydrogen Framework,Chapter 2 identi

192、fied existing barriers and challenges facing the development of the clean hydrogen economy across the region.This chapter presents a roadmap of enabling measures that can be classified into four categories(see Figure 12):Technology evolution and R&D Standards and certification Markets and financing

193、Matching supply and demandThe enabling measures provide key actions and initiatives to help public and private players overcome the regions cross-cutting challenges,such as technology and talent,cost,standards and certification,and the barriers that are more specific to each of the three pathways in

194、frastructure,demand and pace of development.Figure13 presents the six barriers,frames objectives to overcome each barrier and details the enabling measures required to achieve those objectives.Categories of enabling measuresFIGURE 12Technology evolution and R&DStandards and certificationsMarkets and

195、 financingMatching supply and demandRenewables and CCS procurementCertificates of origin(Carbon)contracts for difference(C/CfD)Supply quotasGas blending mandatesPublic tendersFiscal incentivesInvestor risk reductionCarbon pricingLife-cycle CO2e thresholdsTrade and shipping regulationsDedicated indus

196、try loansNote:Within the four categories,items are examples and not exhaustive.Accelerating the Clean Hydrogen Economy in LatinAmerica29Roadmap of enabling measures to accelerate Latin Americas clean hydrogen economyFIGURE 13BarrierObjectiveEnabling measuresEnabling measures type:Technology evolutio

197、n and R&D Standards and certifications Markets and financing Matching supply and demandStandards and certificationEnsure clarity on technical,safety and carbon intensity standards and certifications.(All pathways)1a.Promote regional agreements and partnerships to standardize regulations.1b.Define te

198、chnical standards for the clean hydrogen production value chain(e.g.transportation,storage,conversion).1c.Define technical standards for clean hydrogen derivatives(e.g.ammonia,synthetic fuels).1d.Create industrial safety and security standards and workforce training systems for whole clean hydrogen

199、value chain.1e.Define technical standards for new parts of the value chain beyond production(e.g.infrastructure).CostReduce or eliminate costs related to hydrogen conversion,storage and transport.(All pathways)2a.Decrease investment costs for renewables,electrolysers and CCS with dedicated support.2

200、b.Unify multiple funds available as a one-stop-shop(e.g.fiscal incentives,funds to ease additionality rules for first movers and to cover cost gap of clean hydrogen production).2c.Encourage collaboration to share renewables and CCS resources between nearby industries and/or among clusters to lower c

201、osts.Technology&talentFocus innovation and R&D to enable technology scale-up.(All pathways)3a.Redirect R&D investment from O&G to clean hydrogen;establish R&D centres to ensure scale-up of new technology.3b.Identify critical skills and develop strategy to ensure highly qualified workforce is availab

202、le.3c.Increase funding for clean hydrogen-related research and encourage public-private partnerships.DemandDevelop international demand and offtakers.(Net exporters)4a.Boost global collaboration and alignment with relevant clean hydrogen market design and rules(including for derivatives).4b.Guarante

203、e stable international demand using signed long-term agreements with offtakers.Drive strong local clean hydrogen demand.(Local decarbonizers)5a.Enable better tracking/traceability on allowed carbon intensities/emissions to drive industry demand for clean hydrogen.5b.Establish robust industrial clust

204、ers(e.g.public sector,energy producers,technology providers and investors)to drive decarbonization in key sectors.5c.Focus incentives on sectors with high energy consumption and significant emissions,such as heavy industry,transportation and power generation.Boost demand from the sector served.(Focu

205、sed players)6a.Identify high-value/efficient applications,including derivatives,and define targets by end-use sector.6b.Sign MOUs and commercialization agreements with target sectors.Drive major clean hydrogen projects to ensure enough supply.(All pathways)7a.Initiate extensive public-private,privat

206、e-private and public-public partnerships for clean hydrogen development.7b.Incentivize the development of clean hydrogen valleys/hubs through promotion of regional and sectoral targets.7c.Promote an increase in demand by developing technology for new uses of clean hydrogen(e.g.transportation,iron an

207、d steel).Accelerating the Clean Hydrogen Economy in LatinAmerica30FIGURE 13BarrierObjectiveEnabling measuresEnabling measures type:Technology evolution and R&D Standards and certifications Markets and financing Matching supply and demandInfrastructureDevelop dedicated infrastructure for clean hydrog

208、en exports.(Net exporters)8a.Develop dedicated clean hydrogen export infrastructure,including ports and shipping capabilities.8b.Establish clean hydrogen hubs,focusing on areas near major industrial centres or ports to facilitate exports.8c.Incentivize the construction of clean hydrogen infrastructu

209、re with funding and capacity payments.Create a centralized infrastructure for clean hydrogen.(Local decarbonizers)9a.Establish clean hydrogen hubs in strategic locations to streamline production,distribution and internal consumption processes.9b.Plan to retrofit existing O&G infrastructure with requ

210、ired clean hydrogen infrastructure(e.g.pipelines,storage,usage).9c.Specify interoperable quality standards and definitions to enable integration with existing infrastructure.Adapt and reuse infrastructure for specific uses.(Focused players)10a.Drive connecting and planning of localized refuelling st

211、ations.10b.Collaborate with stakeholders for optimal distribution of production and consumption sites to ensure required supply chain infrastructure evolves.Pace of DevelopmentAccelerate pace of hydrogen scale-up and development to drive economies of scale.(Net exporters)11a.Drive automation of elec

212、trolyser production and increase raw material efficiency.11b.Provide innovative financing mechanisms to enable high capital investments required to develop clean hydrogen technology and infrastructure.11c.Co-develop infrastructure internationally and promote knowledge exchange.Coordinate ecosystem.(

213、Local decarbonizers)12a.Develop and publicize dedicated clean hydrogen strategy(ensure sector-specific production,infrastructure and end-use targets are aligned).12b.Orchestrate different actors across value chain anchored by industrial clusters.12c.Establish robust but flexible regulatory framework

214、s to clarify clean hydrogen terminology,plus well-defined rules and incentives along value chain.Design and test the value proposition.(Focused players)13a.Design and test value proposition to potential clients,while actively involving them in co-creation process.13b.Execute detailed studies of pote

215、ntial demand of target sector/product and its growth projection,to plan hydrogen production capacity around demand forecasts.Roadmap of enabling measures to accelerate Latin Americas clean hydrogen economy(continued)Accelerating the Clean Hydrogen Economy in LatinAmerica313.2 Key success factors:reg

216、ional collaboration and coordination Regional collaboration and coordination will be essential to successfully execute the different enabling measures needed to accelerate the clean hydrogen economy in Latin America.Unlike in the EU or US,where there is centralized leadership to help countries or st

217、ates coordinate their efforts,Latin America requires an innovative approach towards building effective collaboration between different countries to capture the benefits of a regional approach.The following success factors,outlined below,showcase the importance of both regional and international coll

218、aboration and coordination,and should be considered when planning and executing the regions journey towards a clean hydrogen economy:Identify regional synergies and opportunities to work together.Develop and align on regulatory frameworks and certification schemes.Foster global cooperation and shari

219、ng of insights.Pursue an inclusive clean hydrogen economy pathway.Support citizens as the clean hydrogen economy emerges.Identify regional synergies and opportunities to work togetherIn an industry that requires enormous scale and investment,working collaboratively can help distribute both effort an

220、d risk,as well as create market consolidation and stability by aggregating regional supply and demand.To this end,the Transitioning Industrial Clusters initiative of the World Economic Forum,created in collaboration with Accenture and the US-based Electric Power Research Institute(EPRI),has improved

221、 cooperation and common vision between co-located companies and governments to drive economic growth,employment and the energy transition.This industrial cluster approach can accelerate the clean hydrogen economy by:Aggregating demand reducing offtaking risk.Creating shared infrastructure reducing i

222、ndividual investments and improving access to financing and grants.Enabling development of larger projects leveraging economies of scale.Providing a global forum,where clusters can learn from others and replicate successful models.Collaboration is also key at a regional level:For technology and infr

223、astructure development,the identification of high-level R&D opportunities of mutual interest based on complementary strategies can reduce duplicated efforts and accelerate progress through the creation of bilateral or multilateral research collaborations.36 It can help improve the regions visibility

224、,strengthen its negotiating position with international offtakers,and promote it as an important clean hydrogen production hub,enabling it to attract greater external investment and additional support.Accelerating the Clean Hydrogen Economy in LatinAmerica32Develop and align on regulatory frameworks

225、 and certification schemes Global and regional collaboration are important to ensure an effective clean hydrogen regulatory framework and certification process.Learning from existing regulatory frameworks,such as the EUs,can offer ideas and opportunities.Collaboration between countries in the region

226、 could help ensure existing frameworks are adapted to the Latin American context.A relevant example of regional collaboration in Latin America is CertHiLAC a joint effort between the Inter-American Development Bank(IDB)and the Latin American Energy Organization(OLADE)to create a certification system

227、 for clean hydrogen production in Latin America and the Caribbean.It was launched in November 2023 and already more than a dozen countries have signed up.Given that most clean hydrogen demand will be met through international trade,the coordination of standards and alignment of certification is vita

228、l to guarantee compliance around rules of origin and sustainability practices.However,while a global homogeneous certification scheme is preferable,it could take considerable time to develop.In the meantime,strong international and regional cooperation is needed,through initiatives that provide tran

229、sparency and limit divergence between standards.37Foster global cooperation and sharing of insights By playing an active role in global clean hydrogen communities and industry groups,countries can help foster an in-depth understanding of global challenges and bottlenecks hampering the development of

230、 the clean hydrogen economy.Sharing best practices and lessons learned is an important priority to help countries resolve bottlenecks and find innovative solutions to address current challenges.Latin American countries should seek to participate in global collaboration networks and technology effort

231、s to accelerate the global market.Opening up spaces for dialogue with global partners could provide Latin American countries with a platform to advocate for special requirements,such as innovative financing mechanisms or policies,and to seek support through multilateral organizations or partnerships

232、 with other nations.38Pursue an inclusive clean hydrogen economy pathwayAt a national and regional level,it is important to involve all relevant stakeholders who could be affected by the development of the clean hydrogen economy.It is crucial to convene ministries,industry and businesses,financial i

233、nstitutions,academic and research organizations,local communities and NGOs to share their perspectives,concerns and needs in order to ensure an inclusive and sustainable transition.39 Support citizens as the clean hydrogen economy emergesPublic acceptance is critical for the adoption of new technolo

234、gies,as it provides a social licence to operate in new ways.Latin American countries should launch public awareness campaigns to inform citizens about the benefits of clean hydrogen,including its role in reducing emissions and creating jobs.Engaging with communities to address their concerns and hig

235、hlight local benefits is an important priority to gain public acceptance for major new projects and will help accelerate clean hydrogen development across the region.Accelerating the Clean Hydrogen Economy in LatinAmerica33ConclusionTo accelerate the clean hydrogen economy in Latin America,targeted

236、action and collaboration are needed not just locally,but regionally and internationally.Latin America has the potential to be a competitive player in the global clean hydrogen economy.Its access to vast renewable energy resources positions it to become a net exporting region in the long term.Along w

237、ith its potential role in decarbonizing regional economies,clean hydrogen also provides an opportunity to foster social and economic growth.This report has presented three distinct clean hydrogen pathways that countries in the region are likely to follow,each with its own specific objectives,challen

238、ges and enabling measures.Some countries will focus initially on exporting most of their production(“net exporters”);some will look to prioritize the development of their domestic clean hydrogen demand to decarbonize their economies(“local decarbonizers”);and some will follow a targeted,sector-based

239、 approach,using clean hydrogen to complement existing solutions(“focused players”).By prioritizing enabling measures specific to their pathways,countries can move rapidly from planning to action at scale.For example:Net exporters should focus on advancing international offtake agreements to guarante

240、e stable demand,as well as accelerating the construction of dedicated transportation and port infrastructure.Local decarbonizers should leverage industrial clusters to promote the integration of the clean hydrogen value chain for large-scale projects.Clusters can help build connections between suppl

241、y and demand,create economies of scale through shared infrastructure and distribute risks.Focused players should engage with potential sector-specific offtakers to understand how clean hydrogen can fulfil their needs and how best to adapt existing infrastructure to serve those needs.Underpinning the

242、se measures,Latin American countries must bear in mind the key success factors outlined in this report,including:identification of regional synergies and opportunities to work together;fostering cooperation and collaboration;obtaining community buy-in;and sharing lessons learned from countries at mo

243、re advanced stages of maturity.These factors will prove essential in accelerating progress towards addressing mutual challenges and bottlenecks.Above all,to deploy the success factors outlined in this report effectively,countries must seek collaboration and coordination across the region and interna

244、tionally.The World Economic Forum,in collaboration with Accenture and other partners,will continue to support the development of the clean hydrogen economy in Latin America,through strategic initiatives such as the Transitioning Industrial Clusters(TIC)initiative and the Mobilizing Investment for Cl

245、ean Energy in Emerging Economies(MICEE)initiative to enable collaborative actions to scale-up clean energy finance in emerging and developing markets.Accelerating the Clean Hydrogen Economy in LatinAmerica34Appendix:Country profilesSeven countries were selected as high-potential players in the clean

246、 hydrogen economy in Latin America.Accelerating the Clean Hydrogen Economy in LatinAmerica35Methodology for country selectionFive indicators were considered to identify the seven countries that should be prioritized for this analysis and to understand the current and potential maturity of the clean

247、hydrogen industry in the region,as well as the enablers available to accelerate its development(see Box 2 and Figure 14).7prioritized countriesBrazilUruguayArgentinaChileMexicoPanamaColombiaPrioritization scoreLowHighCountry prioritization scoring mapFIGURE 14Five indicators to select countries and

248、the underlying criteriaBOX 2 Strategy Clean hydrogen strategy,ambition and policy extent.Materiality Projected production volumes,projected demand for clean hydrogen,current use of hydrogen(conventional/grey+clean)and expected market value.Current projects Number of projects currently underway promo

249、ting development of clean hydrogen industry.Infrastructure Projected infrastructure for the production and transportation of clean hydrogen(e.g.electrolyser capacity,maritime port readiness).Investment Announced investments for clean hydrogen projects as well as a consideration of projected public-p

250、rivate investment.Accelerating the Clean Hydrogen Economy in LatinAmerica36Following country selection,clean hydrogen-readiness assessments were conducted for each country.These assessments included an analysis of the state and maturity of the entire clean hydrogen value chain,considering variables

251、such as targets,policies,preliminary accelerators and barriers.The assessments in turn provided the basis for developing a policy and funding landscape analysis for each of the seven countries,providing a clear picture of the present and potential future clean hydrogen economies across the region.Th

252、is country-by-country landscape analysis is presented below.Notes on data1 Levelized costs of hydrogen(LCOH)detailed below for each country are projections and do not necessarily correspond to the real cost of production.This is because existing clean hydrogen projects are mostly pilots and there ar

253、e currently no large-scale projects in operation.2 Production volumes detailed below for each country are based on country statements and are often goals rather than precise estimations,leading to potential deviations from production numbers stated in previous chapters.Accelerating the Clean Hydroge

254、n Economy in LatinAmerica37ArgentinaCOUNTRY PROFILEPopulation 45.8 million(2023)GDP$631 billion(2022)GDP per capita$13,709 CO2e emissions 382.9 Mt(2022)Installed renewable capacity40 15 GWNatural gas production 140 million m(2023)Ammonia imports(value)$225,000(2021)Gas pipelinesPortsCurrent infrastr

255、ucture41,42Facts and figures Current advancements in enabling measures44TodayLCOH/kg:SMR+CCS/Blue:$1.10-$2.10 Renewable/Green:$2.80-$6.40Current H2 demand/yr:0.4 Mt Demand focused on:Fertilizers,refining,steel industry,methanol and other chemicals2030LCOH/kg:SMR+CCS/Blue:$1.10 Renewable/Green:$1.70D

256、omestic H2 production/yr:Goal of 1 Mt by 2035Expected local demand:0.02 Mt of clean H2 Exports of 0.3 Mt2050LCOH/kg:SMR+CCS/Blue:$1.10 Renewable/Green:$1.40Domestic H2 production/yr:Goal of 5 Mt of clean H2 20%(1 Mt/yr)will be designated for the local market remaining 80%(4 Mt/yr)will be for export

257、Standards and certificationsArgentina is set to implement a certification of origin system by 2030,based on emissions criteria,free of technological bias and aligned to adopting markets.In 2023,the“Promotion of Low Carbon Hydrogen and Other Greenhouse Gas Emissions”bill was presented to the congress

258、,aiming to support clean hydrogen projects.Additionally,the Energy Secretariat plans to develop a certification framework for clean hydrogen.CostArgentina is launching pilot-scale projects to assess hydrogen production costs,aiming to clarify expenses and remove barriers.The“Promotion of Low Carbon

259、Hydrogen and Other Greenhouse Gas Emissions”bill proposes tax breaks,access to foreign currencies and allocation of revenue for international funding.The strategy includes seeking strategic partners for pilot plants and participating in bids for supply contracts.Additionally,the voluntary green bond

260、 market provides an opportunity for hydrogen sector companies and small investors to support environmentally focused projects.Technology and talentArgentina is prioritizing the advancement of critical technologies like electrolysis and CCUS for clean hydrogen production through technology transfer a

261、nd innovation.Efforts include promoting research,establishing dedicated research centres and fostering technological start-ups.These initiatives are expected to create 13,000 jobs by 2030 and 82,000 by 2050,with a focus on technical and professional training in hydrogen-related topics through collab

262、oration between government sectors and universities.DemandArgentina plans to stimulate demand for synthetic fuels such as methanol,sustainable aviation fuel(SAF)and hydrotreated vegetable oil(HVO a renewable diesel fuel),relying on clean hydrogen,particularly to decarbonize maritime and aeronautical

263、 transport.Additionally,the country aims to facilitate hydrogen demonstration projects by implementing controlled regulatory environments known as“sandboxes”.InfrastructureArgentina is progressing in its clean hydrogen sector,with nine ongoing projects and seven in the pipeline.By 2030,Argentina aim

264、s to transition several projects from concept to operational stages.Private initiatives,leveraging renewable resources for electrolysis,are driving this development,supported by collaborations with international institutes and investments in renewable energy sources.Pace of developmentArgentina aims

265、 to master alkaline electrolysis technology by 2030,facilitating knowledge transfer and serial production.Pilot projects are underway to gauge hydrogen production costs and enable clearer understanding,while controlled regulatory environments are being established to make hydrogen demonstration proj

266、ects feasible.Source:Argentina Presidency.43Accelerating the Clean Hydrogen Economy in LatinAmerica38ArgentinaCOUNTRY PROFILEPublic policies,partnerships and funding overview45PoliciesNational Strategy for the Development of the Hydrogen Economy Overarching strategic vision Policy framework Legislat

267、ionNational Strategy for the Development of the Hydrogen Economy-Action PlansBill:Promotion of Low Carbon Hydrogen and Other Greenhouse Gas Emission promotes clean hydrogen production projectsLaw 26123 of 2006:Regime for the development of technology,production,use and applications of hydrogen as fu

268、el and energy vectorLaw 27191 of 2015:National Promotion Regime for the Use of Renewable Energy Sources to Produce Electric Energy(modification)Law 27566 of 2020:Escaz AgreementLaw 25675 of 2002:General Environmental Law sets minimum budgets for achievement of sustainable developmentStrategic Enviro

269、nmental Assessment$480 million World Bank guarantee to boost private investment in Argentinas renewable energy sector48Creation of Renewable Energy Law(27.191)to finance clean-source energy projects46H2ar Consortium50 offers a collaborative workspace for companies interested in participating in the

270、hydrogen value chain MoU between European Union and Argentina to advance cooperation and achieve objectives in clean energy,mainly in areas of hydrogen51Projects between Argentina and Germany in the field of energy transition/green energy,to stimulate sustainable relations52$350 million Inter-Americ

271、an Development Bank loan to drive sustainable and resilient growth in Argentina49RenovAR an auction-based renewable energy programme designed to scale-up private renewable generation capacity47Partnerships and funding Financial instruments PartnershipsAccelerating the Clean Hydrogen Economy in Latin

272、America39BrazilCOUNTRY PROFILEGas pipelinesPortsFacts and figures Current advancement in enabling measuresPopulation 216.4 millionGDP$1.92 trillion(2022)GDP per capita$9,455 CO2e emissions53 1,310.5 Mt(2022)Installed renewable capacity 175.3 GWNatural gas production 48.8 billion m(2021)Ammonia impor

273、ts(value)$259 million(2021)Current infrastructure54,55TodayLCOH/kg:Renewable/Green:$2.87-$3.56(2023)56Current H2 demand/yr:0.4 Mt(2019)57 currently limited to oil refining and ammonia production,potential expansion to steel and fertilizers for decarbonization2030LCOH/kg:Renewable/Green:$1.9058 Domes

274、tic H2 production/yr:Potential for 0.6-1.1 Mt59 60%of total renewable/green H2 supply is expected to be consumed domestically602050LCOH/kg:Renewable/Green:$1.2061 Domestic H2 production/yr:Potential for 21-32 Mt62 Brazil will compete in clean hydrogen,accounting for 10%of the global market exports o

275、f 4 Mt produced via electrolysis Standards and certificationsBrazil is one of the leading countries in the region,working to establish a strong regulatory framework for green/renewable hydrogen,spearheaded by organizations such as the Brazilian Green Hydrogen Industry Association(ABIHV)63.Furthermor

276、e,the Electric Energy Commercialization Chamber(CCEE)is developing a renewable energy certificate for clean hydrogen,which can be blended into natural gas to help lower the industrys carbon footprint.64 CostThe country has several public policies and financial mechanisms to increase the competitiven

277、ess of clean hydrogen,including tax relief,special financing conditions,green finance and dedicated funds for renewables.Furthermore,Brazil has leveraged international funding and partnerships to overcome high costs,including a 2 billion investment from the EU as part of the Global Gateway initiativ

278、e,BRL 21 million from a Brazil-Germany agreement for renewable/green hydrogen projects and a World Bank collaboration for solar power and renewable/green hydrogen development in north-eastern states.65 Technology and talentThe Brazilian government has committed to investing approximately BRL 200 mil

279、lion per year by 2025 into clean hydrogen R&D,including the creation of clean hydrogen pilot plants in all regions of the country by 2025 and the establishment of clean hydrogen hubs in Brazil by 2035.66 The Brazilian Ministry of Mines and Energy(MME),in collaboration with the National Service for I

280、ndustrial Training(SENAI)and Germanys international development agency GIZ,has signed a cooperation agreement for the creation of the first Green Hydrogen Centre of Excellence in Natal(RN),together with five regional educational and training centres in the field of renewable/green hydrogen(known in

281、Brazil as“H2V”).67 Partnerships with academia and research centres would help overcome technological challenges around clean hydrogen.DemandThrough the National Hydrogen Program,Law No.21767 of 2023 State of Paran68 and the Brazilian Pact For Renewable Hydrogen,69 Brazil is working to promote clean

282、hydrogen applications such as a clean energy source or for use in the production of agricultural fertilizers.InfrastructureBrazil is advancing in its clean hydrogen economy with two operational hydrogen projects utilizing renewable sources,while it has an additional 20 projects in various stages of

283、development.Brazil has not set explicit investment goals for 2030,but the scale of ongoing projects indicates substantial private sector investment,complemented by public sector support where needed.The country has strong commitments towards energy transition that could work as enablers for the evol

284、ution of clean hydrogen.Accelerating the Clean Hydrogen Economy in LatinAmerica40BrazilCOUNTRY PROFILE Pace of developmentBrazils National Energy Plan 2050 provides a long-term framework for the energy transition.The Brazilian Pact for Renewable Hydrogen sets ambitious goals but lacks specific timel

285、ines or quantifiable targets.70,71 Nevertheless,Bill No.725 of 2022 aims to expedite energy sector development through regulatory clarification,complemented by Decree No.21200 which establishes a strategic plan,as well as Decree No.5416 which proposes public policies.There is an opportunity for crea

286、ting a smart regulation sandbox which enables technological routes,establishes and incentives the demand side and fosters competition to benefit the consumer.Public policies,partnerships and funding overview Policies72Bill No.725 of 2022:Addition of hydrogen as an energy sourceDecree No.21200 of 202

287、2:State of BahiaVale and Petrobras protocol of intentions to increase clean hydrogen demand for green steel production,refining and other clean solutions 82Law No.21767 of 2023:State of GoisGreen Energy Park and State of Piau letter of intent creation of a 5 GW green ammonia production and export fa

288、cility83Decree No.5416-R of 2023:State of Esprito SantoMME-GIZ-SENAI cooperation agreement creation of the First Centre of Excellence on Renewable/Green Hydrogen84Law No.21767 2023:State of ParanENGIE and ABH2 partnership to accelerate business in the renewable/green hydrogen segment85Law No.21454 o

289、f 2023:State of ParabaBrazil-Netherlands maritime corridor to facilitate renewable/green hydrogen exports86Bill No.3173 of 2023:Foster the production,distribution and use of renewable/green hydrogen generatedNational Energy Plan 205073Brazilian Pact for Renewable Hydrogen76National Hydrogen Program(

290、PNH2)74 Development of a renewable energy certificate for renewable/green hydrogen77 Overarching strategic vision Policy framework75 Legislation2 billion investment from European Union to support renewable/green hydrogen production79BRL 21 million from Germany and World Bank for renewable/green hydr

291、ogen projects80$100 million from World Bank for Pecm Port as renewable/green hydrogen hub with Ministry of Development and Foreign Trade81Partnerships and funding Financial instruments78 PartnershipsAccelerating the Clean Hydrogen Economy in LatinAmerica41ChileCOUNTRY PROFILEGas pipelinesPortsFuture

292、 hubs Current infrastructure88Facts and figuresCurrent advancement in enabling measuresPopulation 19.6 millionGDP$301.3 billion(2022)GDP per capita$13,355 CO2e emissions87 137 Mt(2022)Installed renewable capacity 17.9 GWNatural gas production 1.29 billion m(2021)Ammonia imports(volume)0.35 Mt(2021)T

293、odayLCOH/kg:Renewable/Green:$4.50-$5.00 Current H2 demand:focused on refineries,domestic ammonia,transportation(mining,heavy-duty trucks,long-distance buses),gas pipes2030LCOH/kg:Renewable/Green:$1.70-$2.60 depending on the regionDomestic H2 production/yr:Expected 200,000 tonnes of renewable/green H

294、2 expected market size$5 billion/yr($2 billion domestic demand,$3 billion exports)2050LCOH/kg:Renewable/Green:$0.80-$1.10 the cheapest in the world Domestic H2 production/yr:Potential for up to 160 Mt of renewable/green H2 domestic market for renewable/green H2 worth$33 billionSource:Ministry of Ene

295、rgy Chile89 Standards and certificationsThe Chilean government has outlined a regulatory roadmap for the renewable/green hydrogen industry,with clear deadlines for three phases.90 Regulations for technical aspects of renewable/green hydrogen plants are already in place,while those for environmental

296、compliance and security are under study.Additionally,Law No.21445 provides a framework for climate change,allowing compliance with emission standards through the acquisition of certificates verifying emission reduction or absorption.CostChile aims to produce the worlds cheapest renewable/green hydro

297、gen by 2050.91 The country has established a regulatory framework to drive down production costs.92 It is now accelerating the development of renewable/green hydrogen projects,with significant international support including:a$150 million loan from the World Bank,93 a$50 million commitment from Chil

298、es economic development agency(CORFO),a 225 million renewable/green hydrogen fund from the European Commission94 and a$400 million loan from the Inter-American Development Bank.95 Technology and talentChile has expedited three pilot initiatives for renewable/green hydrogen technology in production,m

299、ining and transport,while Germany is investing in technology to accelerate renewable/green hydrogen production in Chile.The renewable energy industrys expansion in Chile could create 11,000 new jobs.96 CORFO provided a free online course in 2021 sponsored by the EU to enhance knowledge of the renewa

300、ble/green hydrogen industry.DemandChile is advancing toward ratifying a trade agreement with the EU,focusing on renewable/green hydrogen,which will facilitate free renewable/green hydrogen trade across borders,boosting demand for Chilean renewable/green hydrogen.97 Early adoption of renewable/green

301、hydrogen is anticipated in the energy and transportation sectors,particularly for heavy-duty vehicles.98 Chile projects a market size for renewable/green hydrogen of$5 billion by 2030.99 Additionally,Santiagos airport aims to incorporate renewable/green hydrogen into its operations to achieve carbon

302、 neutrality by 2050,positioning itself as a regional leader in sustainable aviation.100 InfrastructureChile is making significant strides in its renewable/green hydrogen economy,with 64 projects at various stages of development.Four operational projects utilize technologies like polymer electrolyte

303、membrane(PEM)electrolysis powered by renewable sources.Future projects slated for completion by 2030 range from feasibility studies to large-scale production facilities,showcasing Chiles holistic approach to renewable/green hydrogen integration.The emphasis on dedicated renewables underscores Chiles

304、 commitment to sustainable energy solutions.101Accelerating the Clean Hydrogen Economy in LatinAmerica42National Green Hydrogen Strategy 2050104Decree-Law 2224 of 1978(modified in 2021)to directly regulate the renewable/green hydrogen industryLaw No.20698 of 2013Development of renewable/green hydrog

305、en regulationsPublic policies,partnerships and funding overviewPoliciesENAP*joint-development agreement to transform the Gregorio Maritime Terminal into the largest industrial complex in the Magallanes region112 BMWK*-Siemens Energy developing the worlds first integrated commercial installation to p

306、roduce climate-neutral fuel near Punta Arenas in south Chile113 225 million renewable/green hydrogen fund by Team Europe Renewable in Chile for financing renewable/green hydrogen projects108$50 million from public funds CORFOs commitment to finance the development of six pilot projects110$150 millio

307、n loan from World Bank to promote investment in renewable/green hydrogen projects109$400 million loan from Inter-American Development Bank to finance new projects in renewable/green hydrogen111Green Hydrogen Action Plan 2023-2030105Technical Assessment Criteria in the SEIA*:integrated description of

308、 projects for the generation of green hydrogen Law No.21210 of 2020SAF Roadmap 2050106Bulletin No.391-369 of 2021Law No.21455 of 2021Partnerships and fundingChileCOUNTRY PROFILE Financial instruments Partnerships Overarching strategic vision Policy framework Legislation107Note:*SEIA is the Chile gov

309、ernments environmental impact evaluation system.Notes:*ENAP is Chiles national petroleum company,*BMWK is the German Federal Ministry for Economic Affairs and Climate Action.Pace of developmentChiles new government in 2022 reaffirmed the ambitious programme for renewable/green hydrogen set by the pr

310、evious government in the National Green Hydrogen Strategy in 2020.102 Chile expects to have 5 GW of electrolysis capacity either operating or under development by 2025 and 25 GW by 2030.103Accelerating the Clean Hydrogen Economy in LatinAmerica43Gas pipelinesPortsFuture hubsFacts and figuresCurrent

311、advancement in enabling measuresColombiaCOUNTRY PROFILEPopulation 52.5 millionGDP$343.9 billion(2022)GDP per capita$6,630(2022)CO2e emissions114 215.5 Mt(2022)Installed renewable capacity 13.4 GW(2023)Natural gas production 12.4 billion m(2022)Ammonia imports(value)$30.4 million(2021)Current infrast

312、ructureTodayLCOH/kg:SMR+CCS/Blue:$2.40(2020)Renewable/Green:$2.10-$4.80(2020)Current H2 demand:150,000 tonnes of conventional/grey H2 focused on refineries,chemical industry,steelmaking and other industrial uses2030LCOH/kg:SMR+CCS/Blue:$2.40 Renewable/Green:$1.70-$2.70Domestic H2 production/yr:Goal

313、to develop 1-3 GW of electrolysis capacity and produce at least 50,000 tonnes of SMR+CCS/blue H2 clean H2 demand expected to reach 120,000 tonnes(including partial replacement of grey H2 and new uses)2050LCOH/kg:SMR+CCS/Blue:$2.40-$2.50 Renewable/Green:$1.10-$1.70 4th cheapest in world Domestic H2 d

314、emand:Estimated at 1.85 Mt for clean H2 transport sector 64%industrial sector 34%electricity sector 2%Source:Ministry of Mines and Energy Colombia118115,116,117 Standards and certificationsPhase 1 of the countrys clean hydrogen roadmap focuses on designing guarantees and certifications for renewable

315、/green hydrogen production.This involves collaboration with international task forces to adopt best practices and develop a national certification system.Colombia plans to design a guarantee of origin(GO)system to determine certification mechanisms,actors involved,governance framework and validation

316、 processes at local and international levels.119 Recommendations for implementing a clean hydrogen certification system were provided by energy transition consultancy HINICIO Colombia to the Ministry of Mines and Energy.120 CostThe Colombian government has implemented Law 2099 to incentivize investm

317、ent in clean hydrogen production and provide benefits.The Mining and Energy Planning Unit(UPME)certifies projects for access to these incentives.Additionally,government investment through the Non-Conventional Energy and Efficient Energy Management Fund(FENOGE)now includes financing for viable projec

318、ts in the clean hydrogen value chain,prioritizing those that reduce emissions and create wealth and jobs.121 Technology and talentColombia supports clean hydrogen projects through various funds which aim to promote regional competitiveness and finance science and technology initiatives.The national

319、clean hydrogen action plan includes initiatives such as promoting clean hydrogen workgroups in universities and business associations as well as potentially establishing a national hydrogen centre for pilot projects.122 DemandThe incentives provided by Law 2099 for clean hydrogen production also ext

320、end to end uses,stimulating demand by reducing costs.Additionally,Law 1964 of 2019 acknowledges clean hydrogen technologies in the mobility sector,offering incentives for electric vehicles(EVs).123 Law 1931 of 2018 recognizes the role of the Non-Conventional Energy Sources Law in mitigating GHG emis

321、sions,prompting local governments to include provisions for promoting renewable energy and energy efficiency in their development plans.124 The National Hydrogen Roadmap aims to attract$2.5-$5.5 billion in investment for clean hydrogen production and demand projects between 2020 and 2030.125 Infrast

322、ructureColombia is actively expanding its clean hydrogen economy,with six potential hubs operational in different regions by 2050,28 projects at various stages of development and three operational projects with renewable energy sources already in place.Additional projects are slated for completion i

323、n the coming years,with some reaching the FID stage or construction stage between 2023 and 2025,while some will be in the feasibility study phase with target dates extending to 2033.Accelerating the Clean Hydrogen Economy in LatinAmerica44Public policies,partnerships and funding overview$1 billion l

324、oan from World Bank to support a programme of reforms aimed at contributing to Colombias clean hydrogen development135$750 million low-interest loan from World Bank to support efforts towards long-term sustainable growth by promoting key institutional reforms139UK investment to develop renewable/gre

325、en hydrogen and ammonia production projects up to 5 GW137FENOGE national fund to finance and execute plans and projects to improve energy efficiency136 Ecopetrol and Colombian government the government has backed plans for investment in renewable energy and clean hydrogen projects140Climate partners

326、hip with 200 million pledge from Germany to help Colombia reach its climate targets142MoU with Fraunhofer Gesellschaft to analyse the production of hydrogen,ammonia,methanol and green fertilizers143Dialogues with South Korea exploring the potential for renewable/green hydrogen exports144European Uni

327、on investment financing hydrogen projects in Colombia138MoU with Medelln Public Companies(EPM)and Japan Bank for International Cooperation to promote the exploration of new opportunities in renewable energy and clean hydrogen projects141Partnerships and funding Financial instruments PartnershipsColo

328、mbiaCOUNTRY PROFILEPoliciesNational Hydrogen Roadmap129Certification system recommendations130Law 1715 of 2014 promotes the development and use of renewable energy sources and their storage systems131Law 2069 of 2020 supports entrepreneurial growth and social equity133Decree 2235 of 2023 modifies Ar

329、ticle 235 of Law 2294 of 2023 in relation to the development of natural/white hydrogen*projects134Law 2099 of 2021 encourages the use of renewable/green and SMR+CCS/blue hydrogen132 Overarching strategic vision Policy framework Legislation Pace of developmentLaw 2099 of 2021 grants the national gove

330、rnment the authority to establish mechanisms to promote clean hydrogen innovation,research,production,storage,distribution and utilization.126 Additionally,Law 2069 of 2020 establishes a regulatory sandbox for innovative business models in regulated industries.127 Colombias national action plan incl

331、udes creating a centralized registry of clean hydrogen projects and companies to identify interests,project types,synergies and best practices within the clean hydrogen value chain.128Note:*natural/white hydrogen:formed by natural processes.Accelerating the Clean Hydrogen Economy in LatinAmerica45Me

332、xicoCOUNTRY PROFILEGas pipelinesPortsCurrent infrastructureFacts and figuresCurrent advancement in enabling measuresPopulation 129.4 millionGDP$1.46 trillion(2022)GDP per capita$10,077CO2e emissions145 819.9 Mt(2022)Installed renewable capacity 31.7 GWNatural gas production 31 billion m(2022)Ammonia

333、 imports(value)$340 million(2021)TodayLCOH/kg:Renewable/Green:$4.00148 Current H2 demand/yr:51,000 tonnes of H2 by 2025149 demand is driven by refining and petrochemical activity1502030LCOH/kg:Renewable/Green:$2.75 Estimated onsite production cost Domestic H2 demand&production/yr:230,000 tonnes of renewable/green H21512050LCOH/kg:Renewable/Green:$1.25 Estimated onsite production cost Domestic H2 d