Uruguay and the European Union: Advancing Together in Renewables and Green Hydrogen

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Date: August 14

Uruguay, a South American country known for its commitment to sustainability and energy innovation, is taking significant steps to strengthen its position in the global market for renewable energy and green hydrogen. In this context, the nation has started talks with the European Union, seeking to establish mutually beneficial cooperation in the field of clean energy.

Uruguay’s ambassador to Spain, Ana Teresa Ayala, recently participated in the Europe Future Energy Iberian Renewable Summit, where she highlighted Uruguay’s ambitions in the energy sector. According to Ayala, Uruguay is in the process of its second energy transformation and seeks to attract investment in renewable energy and green hydrogen projects. With this objective in mind, the country has opened its doors to greater foreign participation and is advancing in negotiations with different nations to consolidate itself as a key player in the green hydrogen market.

One of the highlights of Ayala’s intervention was the announcement that Uruguay is in negotiations to sign a memorandum of understanding with the European Union. This agreement will focus on cooperation in renewable energy, energy transition and green hydrogen. The main objective is to develop reliable and sustainable supply chains for the global markets for green hydrogen and its derivatives.

But why this focus on green hydrogen? Uruguay has the vision of becoming a net producer and exporter of green hydrogen. With a clear roadmap that sets targets of 20 GW renewables and 10 GW of electrolysers by 2040, the country is positioning itself to take advantage of the opportunities offered by this emerging market.

In addition, the Uruguayan government has established ties with several countries of the European Union, such as France, Italy and the Netherlands. These relationships seek to strengthen business and establish agreements that benefit both parties. An example of this is the conversation that took place at the end of 2021, where the possibility of the Port of Rotterdam, the largest in Europe, serving as a gateway for hydrogen produced in Uruguay was discussed.

Ambassador Ayala also highlighted the benefits offered by the investment promotion law in Uruguay. Green hydrogen has been included in the matrix of indicators for investment projects, which means that these investments will obtain the maximum score to deduct income tax from economic activities.

In conclusion, Uruguay is taking proactive steps to strengthen its position in the global market for renewable energy and green hydrogen. With the support of the European Union and a clear vision for the future, the country is well positioned to lead the energy revolution in the region.

Source: Energía Estratégica

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