Chile is in an enviable position of having some of the best sunlight in the world. As a result of this, it has been able to capitalize on solar renewable energy.
It has been helped by the rapid advancement in technology that has reduced the price of producing solar energy by 80%. It can now boast that it no longer relies on importing energy.
Bolstered by this success, it is now going after green hydrogen. This source of energy has become recognized as a more versatile energy form because it does not rely on weather, e.g. sun or wind.
In simple terms, hydrogen is produced by electrolyzing water (using electricity) and separating hydrogen and oxygen atoms. The energy minister believes that it can scale this industry beyond the size of its copper exports (50% of all exports).
Mckinsey consultancy firm, believe that the industry could be worth $2.5tn in the next 30 years. This puts Canada in a good position to capitalize on this. Canada has a good relationship with Chile and has a number of companies developing green hydrogen technology. A full list of companies and associations can be accessed by clicking on the link below: