Argentina’s burgeoning green hydrogen sector has received a substantial financial injection from the European Union’s large-scale fund, signaling a positive turn for the industry.
The EU will invest around €5 million (USD $5.7 million) in the generation and commercialization of green hydrogen in Argentina, according to a recent announcement. This investment, part of the EU’s broader €30 billion mega fund, aims to stimulate the growth of Argentina’s hydrogen market.
On Tuesday, during her visit to Buenos Aires, Ursula von der Leyen, the president of the European Commission, unveiled the news. This announcement is part of a large-scale diplomatic campaign in Latin America by the European Union
The initiative will focus on the provinces of Chubut, Santa Cruz, and Tierra del Fuego in the southern region of Argentina. These areas are ideally situated to take advantage of the abundant wind resources to power electrolyzers for green hydrogen production.
Guillermo Rocha, the EU’s ambassador to Argentina, commented on the fund’s potential impact. He explained that this investment is part of the EU’s commitment to the environment, particularly in the face of the global climate crisis. He further noted that the EU seeks to foster renewable energy use and strengthen the green hydrogen industry in Argentina.
This new funding could boost Argentina’s global position in the green hydrogen industry. The country’s rich wind and solar resources, combined with this financial support, could accelerate its transition to a cleaner, greener economy.
As the world moves toward reducing carbon emissions and addressing climate change, the demand for green hydrogen as an energy source continues to rise. This investment by the EU could therefore be instrumental in enhancing Argentina’s capacity to meet global green hydrogen demand and positioning it as a key player in this vital sector.
Read the most up to date Fuel Cell and Hydrogen Industry news at FuelCellsWorks
