Peru’s green hydrocarbon roadmap unveiled

Peru’s green hydrocarbon roadmap unveiled

Peru's green hydrocarbon roadmap unveiled

Quito, 11 March (Argus) — Peru has outlined its first plan to begin developing green hydrogen projects over the coming decades, from draft legislation to future renewables projects.

The private Peruvian Hydrogen Association (H2 Peru) on 10 March presented President Pedro Castillo's administration and Congress with a detailed outline for developing green hydrogen through 2050, including passage of framework legislation in the next few years.

The first step would be approval of legislation for green hydrogen before 2025. Draft legislation H2 Peru submitted to start the process for declaring the production, transport, storage, distribution and export of green hydrogen in the nation's interest. The next step would be approval of tax breaks and other benefits, such as creation of free-trade zones, to expedite investment.

The association signed a cooperation agreement with the energy and mines ministry the day prior to presenting the roadmap.

Deputy energy minister Rafael Reyes said at the signing ceremony that green hydrogen would not only let Peru diversify its energy mix, but help it reduce greenhouse gas emissions.

Peru has pledged to reduce its emissions by 40pc by 2030 as part of its nationally determined contribution (NDC) under the Paris Agreement. If it meets the target, maximum