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News > Argentina

Australian Co. To Invest 8 Billion In Argentine Hydrogen Energy

  • Argentine President Alberto Fernandez (L) and Fortescue Company Director Andrew Forrest (R), Glasgow. U.K., 2021.

    Argentine President Alberto Fernandez (L) and Fortescue Company Director Andrew Forrest (R), Glasgow. U.K., 2021. | Photo: Twitter/ @alferdez

Published 2 November 2021
Opinion

"The plant will make our country a global green hydrogen exporter pole by 2030 and will generate over 50,000 jobs," Argentina's President Fernandez highlighted. 

On Monday, Argentina’s President Alberto Fernandez announced that the Australian company Fortescue will invest US$8.4 billion to construct a green hydrogen production plant in the Rio Negro Province.

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"The project will make our country a global green hydrogen exporter pole by 2030 since the plant will have a production capacity of 2.2 million tons per year," Fernandez said, adding that this initiative will generate over 50,000 jobs.

Green hydrogen is considered the best innovation to fight the expulsion of greenhouse-effect gases into the atmosphere because this gas has three times more energy than gasoline and its consumption only releases steam water.

Hydrogen exists in combination with other chemical elements. Therefore, green hydrogen is generated from other renewable energies such as solar and wind power, which have development potential in Argentina due to this country's climatic conditions. 

Wind speed may reach over 12 meters per second in the Patagonian region and about 9 meters per second in Buenos Aires. In addition, the Ullum photovoltaic solar plant in San Juan City generates about 38 thousand watts per square meter on average each year.

The Fernandez administration will install eolic power generators and solar panels in the Rio Negro Province to provide the Australian company with more energy to obtain green hydrogen.  It will also build a deepwater port to export the gas. 

"We need environmental, social, and economic sustainability. This project comprises those three conditions. Therefore, we will take it with responsibility and pride," Fernandez stressed.

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