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Key findings from the H2LAC Index 2023

What have been the advances in the hydrogen market in Latin America and the Caribbean in the last three years?

In 2021, Hinicio and New Energy presented for the first time the Regional Hydrogen Index for Latin America and the Caribbean – H2LAC Index, with the aim of providing a comprehensive overview of the different variables that impact the development of the hydrogen economy in LAC. It seeks to identify the leading countries in the sector and analyze key information that allows for constructive discussions at the national and regional levels.

The index evaluates each year the development of the hydrogen industry in LAC in terms of public policies, incentives and regulations, ecosystem development, number of operational and ongoing projects, adoption of renewable hydrogen-based mobility, and international cooperation and export planning. The results are based on a survey sent to high-level government officials, top executives from the private sector, experts from international organizations, and experts in the hydrogen economy.

In the first edition, it was found that Chile, Costa Rica, Brazil, and Argentina, respectively, were leading this market, and that there were a total of 35 industrial-scale hydrogen projects, with five of them already in operation and thirty in development (excluding R&D projects). It was also discovered that hydrogen mobility was in its early stages and that most of the countries in Central America had very limited development, except for Mexico and Costa Rica. More information on the previous index can be found at:

For 2022, the leadership order changed. Chile, Colombia, Brazil, and Uruguay were the countries with the highest hydrogen development index, due to the willingness of governments to implement initial regulations and incentives, as well as the demonstrated interest of various private stakeholders in developing national projects. On this occasion, it was concluded that the adoption of this economy had growth rates exceeding 50% in most countries in LAC, and Caribbean countries were showing a strong interest in integrating projects and businesses around clean hydrogen for export.

What are the preliminary findings?

During the 3rd International Hydrogen Congress for Latin America and the Caribbean – H2LAC 2023, held on June 13th in Rio de Janeiro, Hans Kulenkampff, Head of Hinicio Latin America, presented the preliminary results of the H2LAC Index 2023. It was found that hydrogen projects grew by 74% compared to the previous index, reaching 150 projects, of which Brazil and Chile accounted for almost 2/3. Chile, Colombia, and Brazil also maintained their positions from the previous year while closing gaps in these early stages of global development.

The results also revealed that nearly all countries in LAC will have a published or ongoing national strategy or roadmap this year, and Brazil could lead this market in 2024. There are also cases such as Uruguay, which is emerging as one of the major investors in energy transition, showcasing its progress in relation to its current GDP.

Another important conclusion addresses the role of national associations and the consolidation of favorable ecosystems for negotiation, which have succeeded in incentivizing private sector participation and maintaining constant interest from international organizations. These organizations continue to work in collaboration with the public sector to develop common regulatory frameworks and establish initial investment funds.

The final report with a complete analysis of the results for each category and country will be published in the second half of the year and will be freely available to the public.


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