Regulation & Policy, Renewables Nov 16, 2021 6:12 PM
Colombia will seek to boost investments in green hydrogen in the coming years.
The government will seek investments of between US$3.0B and US$5.0B to develop green hydrogen in the coming years, Portafolio reported.
The goal is for Colombia to become one of the world’s benchmark exporters of this clean energy, the Minister of Mines and Energy (MinEnergia), Diego Mesa, said.
“Our goal is to achieve investments of up to US$5.0B to achieve electrolyzed capacity between 2GW and 3GW,” Mesa said.
MinEneriga explained that Colombia already uses hydrogen in several energy sectors, but the challenge is to do it in a green, non-polluting way.
“That requires water, sun and wind and Colombia has world-class resources,” Mesa highlighted.
Mesa said that European associations and academics specialized in green hydrogen see Colombia as a potential exporter in the medium term.
MinEnergia met with potential investors and the management of the International Energy Agency (IEA).
He said that the IEA will visit the country to review Colombia’s “response capacity” to a given event and a complete review of the Colombian energy system.
MinEnergia said that the IEA provides technical assistance and cooperation that works both ways.
“I believe that Colombia has shown itself to be a leader in the energy transition and we can share all the experience accumulated over the last three years,” Mesa concluded.
Bottom-Line: The current government has made a good campaign to attract investors and show the world that Colombia is moving forward in the energy transition.
However, authorities must make a greater effort on internal issues such as improving the regulatory framework, offering social stability, and better security conditions to leverage the country’s potential.
It would also be good to know where the renewable energy to produce hydrogen will come from, given that the politicians continue to squabble over 20% of the country’s capacity rather than focusing their attention on completing the project.
