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Minister: Chile will reduce green hydrogen production goals amid global slowdown

Diego Pardow, Minister of Energy for Chile, said on Wednesday that the country will reduce its green-hydrogen production targets due to a decline in global market prospects.

Pardow, in an interview during Energy Week Santiago, said that the adjustment will be published before March 2026, the end of current administration's term.

He said that "the international market for green hydrogen has cooled down a bit." The reduction would be in line with European nations that have reduced their goals.

This trend is mirrored by developers all over the world who are cancelling their projects and reducing investment.

Pardow stated that several green hydrogen "commercial scale" projects have either received or are on the verge of obtaining environmental permits.

TotalEnergies, HIF Global and other companies are working on green hydrogen projects across the country. The government has said that about 40 billion dollars worth of projects are currently being assessed for their environmental impact.

Pardow stated that the government has not yet decided whether or not to terminate a concession in the capital by an Enel unit. However, a date for a decision is set.

Enel was accused by the government of taking too long to restore power in Santiago following a storm that occurred in 2024. (Reporting and writing by Fabian Cambero, Alexander Villegas, Kylie Madry).

(source: Reuters)