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Italian Economic Diplomacy 30 November: latest news from around the world

Date:

11/30/2020


Italian Economic Diplomacy 30 November: latest news from around the world

CHILE: 'GREEN HYDROGEN SUMMIT 2020' AND THE CHILEAN NATIONAL GREEN HYDROGEN STRATEGY

The virtual “Green Hydrogen Summit” organised by the Chilean Energy Ministry, CORFO Government Agency, and GIZ, the German Development Cooperation Agency, has recently been held in Santiago.
This event has provided the opportunity to discuss and look at the role of green hydrogen as a means of speeding up the energy transition process in greater depth. Chile intends to play a leading role in this regard over the next few years, with the collaboration and expertise of international partners who are already experts or pioneers in the sector. The Conference was part of the Chilean National Strategy to promote green hydrogen, and can be consulted by using this link: https://energia.gob.cl/sites/default/files/estrategia_nacional_de_hidrogeno_verde_-_chile.pdf
The Strategy is built on 6 essential pillars: the industrial hydrogen policy coordinated and promoted by the State; the new clean export economy; efficient movement towards a zero emission Country; green hydrogen as a driving force for local development; international openness. 
In terms of timing, the Strategy will develop in three distinct incremental stages: production of hydrogen for large-scale domestic consumption, for transport and, finally, for export within the next decade.
In view of providing momentum to the initiative, the Strategy provides for recourse to some institutional support tools, starting with: financing of 50 million U.S. dollars to support companies involved in green hydrogen projects in Chile; a public / private round table on internalising costs resulting from the use of fossil fuels and the competitiveness of hydrogen; setting up a regulatory framework that guarantees the security and certainty of investment.
The institutional tools used to support the National Strategy also include the so-called “Green diplomacy”, which aims at turning Chile into a world centre for research, development, production, and exportation of green hydrogen, by means of international cooperation, openness to foreign investment, and setting up a network of energy alliances and agreements with partner Countries.


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