Ministry of Energy signs MoU with Japan Bank for International Cooperation that seeks to promote the development of green hydrogen

PRESS RELEASE from the Chilean Ministry of Energy

7 August, 2023

(Machine translation of the original release, issued in Spanish)

The Ministry of Energy signed a Memorandum of Understanding (MoU) with the Japan Bank for International Cooperation (JBIC), with the aim of promoting cooperation in sectors that use hydrogen and ammonia as fuel sources, and It is constituted as a framework for collaboration between the two institutions.

The Minister of Energy, Diego Pardow, declared that "the signing of this MOU is a sign of confidence in the institutional framework of our country and in the Action Plan that we are carrying out for the development of green hydrogen and its derivatives. With Japan we have a long history of bilateral cooperation and this commitment will promote joint actions that allow both nations to move towards carbon neutrality."

For his part, the governor of JBIC, Nobumitsu Hayashi, commented that "Chile is one of the most promising countries for the production of green hydrogen thanks to its abundant renewable resources and some Japanese and Chilean companies have already started feasibility studies for possible projects. green hydrogen. I am sure that this MoU will further promote joint action and cooperation on tangible projects”.

With the objective of achieving carbon-neutrality in 2050, Chile launched in December 2022 the Green Hydrogen Action Plan that seeks to define the roadmap for the deployment of this industry, in line with the "National Green Hydrogen Strategy" , launched in 2020, where Chile aims to become one of the leading countries in the export of green hydrogen worldwide by the year 2040.

For its part, JBIC, through the Fourth Medium-Term Business Plan, launched in June 2021, aims to respond to the energy transformation towards the realization of a decarbonized society, where hydrogen and ammonia play a central role.

In Chile, many companies, including Japanese ones, are developing the hydrogen and ammonia market, with a focus on renewable energy sources, which are abundant in the country. Thanks to the signing of this MoU, the Ministry of Energy and JBIC aim to contribute to the country's efforts to achieve carbon neutrality and accelerate the structuring of projects to develop the hydrogen and ammonia value chain.