More and more countries in Latin America and the Caribbean are adopting hydrogen as a viable solution to meet their medium-term decarbonization goals. In addition to their rapid growth, many of the region’s largest economies are beginning to take the lead, although they are not the only ones.
In the webinar ‘Topline Findings from the 2nd Hydrogen Index for Latin America & the Caribbean’, Hinicio and New Energy Events presented the preliminary results of the H2LAC Index, the Hydrogen Index for Latin America & the Caribbean – now in its second edition. This index, which evaluates the development and state of the hydrogen economy in the region, positions Chile, Colombia, and Brazil as the three Latin American countries with the highest hydrogen development index to date. Notwithstanding, Caribbean countries are showing a marked interest in integrating projects and businesses around clean hydrogen for export.
According to the results, several countries lead this market at the regional level due to the willingness of governments to implement the first regulations and incentives for zero and low-emission hydrogen and the interest shown by various private actors to develop projects at a national level. While Chile has sustained their first-place position, both Colombia and Uruguay improved their ranking compared to the first edition. Countries such as Argentina and Costa Rica dropped in the ranking compared to 2021. However, they continue to make important progress.
Juan Pablo Zuñiga, Manager of Hinicio in Chile, remarked that this index aims to evaluate the different variables that affect the development of the hydrogen economy in the region and to analyze essential information that incentives the debate at a national and regional level. “This is not a competition. We want to recognize how this market is developing and share common backgrounds and best practices to develop this industry as a region.”
These results were compiled through a survey answered by senior public officials, industry leaders, and hydrogen experts from 17 Latin America and the Caribbean countries. The results revealed that the regional market had grown more than 50% compared to last year. The data also highlights the progress made in several Central American countries toward hydrogen adoption through the development of public policies. Several South American countries have also increased the number of projects in operation and under development.
Michelle Hallack, Senior Energy Specialist in the Inter-American Development Bank (IDB), mentioned that although there are more advanced countries in the development of this market, the different variables – as well as their capabilities and competencies to be leaders in each market segment – cannot be overlooked. She also said that the index is encouraging; she has seen an increase in the knowledge of hydrogen in the region over the last few years and a high interest in developing this market in an integrated way.
The final report with a complete analysis of the results for each cathegory and country will be presented at the 2nd Hydrogen Congress for Latin America & the Caribbean #H2LAC2022 in Cartagena, Colombia this October 4-5. This index is expected to be a baseline document to support governments and investors in developing public policies and regulations, implementing strategic projects and enhancing the region’s capacity to position itself in international markets.
More information about the event and the final report will be available at: https://newenergyevents.com/h2lac/