CAF helps expand green hydrogen market in Uruguay

In an effort to help advance the national strategy to expand the green hydrogen market in Uruguay, CAF—development bank of Latin America and the Caribbean—signed a Non-reimbursable Technical Cooperation Agreement with UTE, earmarking USD 100,000 to create new know-how that fosters the inclusion of this technology in Uruguay's energy sector.

Esta firma representa un paso más en nuestro propósito de convertirnos en el banco verde de América Latina y el Caribe. Este es un compromiso que asumimos con la mayor responsabilidad, llevando adelante distintas acciones que apuntan a aumentar la resiliencia climática y a promover la transición energética en la región

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Francois Borit.

"This signing is another step towards our goal of becoming the green bank of Latin America and the Caribbean. This is a pledge we assume with the utmost responsibility, deploying different actions aimed at improving climate resilience and fostering energy transition in the region," said CAF's representative in Uruguay François Borit.

This agreement will help produce a pilot project to advance the production and marketing of green hydrogen, expanding and producing new know-how to bring this technology into the nation's energy sector.

The project will be developed through technical studies to be conducted by UTE, focusing on environmental, technological, financial, and regulatory issues regarding the production, storage, and transportation of this type of energy.