Colombia's Bright Future: Green Hydrogen Expansion and Financing Opportunities
Key Ideas
  • Colombia aims to have 1GW of electrolysis capacity for green hydrogen by 2030, with funding opportunities from multilateral banks and public resources.
  • The country plans to stimulate hydrogen consumption in key sectors like refineries and fertilizers to make low-emission hydrogen competitive and decarbonize industries.
  • Blue hydrogen production in Colombia is expected to reach around 200,000t/y by 2030, led by refineries adopting carbon capture technologies.
  • Challenges include the need for increased wind and solar capacity, offshore wind development, and transmission infrastructure to support hydrogen projects in Colombia.
Despite challenges, Colombia is set to achieve at least 1GW of electrolysis capacity for green hydrogen production by 2030. The Andi-Naturgas hydrogen chamber's executive director, Karen Peralta, discusses the optimistic future of the sector. Currently, projects in Colombia are mainly supported by corporate resources and some incentives from the science, technology, and innovation system. However, there is a need for external financing, which could come from multilateral banks, international cooperation organizations, and public funds. The focus is on enhancing tax incentives for hydrogen projects to further boost growth. Colombia's hydrogen strategy targets sectors like refineries and fertilizers to align production and consumption, aiming to make low-emission hydrogen competitive. Blue hydrogen production, expected to reach 200,000t/y by 2030, is driven by refineries adopting carbon capture technologies. Challenges include increasing wind and solar capacity for green hydrogen production and addressing delays in renewable energy projects. Offshore wind development, specifically in the Atlántico department, shows promise for expanding energy supply and facilitating hydrogen production. The potential use of offshore electrolysers could further accelerate the country's hydrogen development.
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