Chile reduces green hydrogen production targets due to market prospects
Chile will reduce its green hydrogen production targets amid diminishing global market prospects, Energy Minister Diego Pardow told Reuters on Wednesday.
In an interview with Reuters during Energy Week in Santiago, Pardow said the adjustment would be published before the end of the current administration's term, which concludes in March 2026.
"The international market for green hydrogen has cooled off a bit," he said, adding that the reduction will be in line with European countries that have lowered their goals.
The retreat mirrors a global trend, with developers around the world canceling projects and trimming investment.
Pardow noted that several "commercial-scale" green hydrogen projects have received environmental permits or are close to obtaining them.
TotalEnergies TTEF.PA and HIF Global are pursuing green hydrogen projects in the country and the government said about $40 billion in projects are currently under environmental review assessment.
Pardow said the government is still evaluating whether to end a concession by unit of Italy's Enel ENEI.MI in the capital, but there is no date set for issuing a resolution.
The government accused Enel of being slow restore power to thousands of customers in Santiago after a storm in 2024.
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