Ecopetrol to Build Latin America's Biggest Green Hydrogen Plant in Cartagena
Key Ideas
- Ecopetrol plans to invest $28.5 million in a new green hydrogen plant in Cartagena, Colombia.
- The plant aims to produce 800 tonnes of green hydrogen annually, becoming the largest in Latin America.
- Colombia's President aims to transition the country away from fossil fuels, supporting clean fuel initiatives like this.
- Ecopetrol expects low-emission hydrogen production to significantly boost its earnings by 2040.
Ecopetrol, Colombia's majority state-owned energy company, has announced plans to construct a new green hydrogen plant at its refinery in Cartagena. The $28.5 million investment will see the plant producing 800 tonnes of green hydrogen per year, making it the largest of its kind in Latin America. This initiative aligns with President Gustavo Petro's goal of reducing the country's dependency on fossil fuels. Ecopetrol's CEO, Ricardo Roa, highlighted the company's evolution towards producing clean fuels, emphasizing the strategic importance of this transition. In addition to the environmental benefits, Ecopetrol anticipates a substantial financial impact from the production of low-emission hydrogen, projecting a significant increase in earnings by 2040. This move towards green hydrogen production reinforces Colombia's commitment to sustainability and positions Ecopetrol as a key player in the renewable energy sector.