Recently, it was learned that at least three foreign companies are interested in building green hydrogen plants in Costa Rica. Foreign companies have been attracted by the formation of the electrical matrix, which, in turn, is a potential advantage for sustainable businesses. Costa Rica, given the situation of foreign initiatives and agreements, can be competitive before the world for its renewable energy production.
It is worth noting that since 1990, Costa Rica has exceeded 90% of electricity production with clean resources, and between 2015 and 2022, it accumulates 98% of renewable generation with its five sources: water, geothermal, wind, biomass and the sun.
Why invest in Costa Rica?
Mainly due to the fact that the country has been working so that energy production is renewable. The Central American country has been focused on environmental policy and the National Decarbonization Plan 2018-2050.
It is a total advantage that Costa Rica has a location between two oceans, the democratic stability of the country, the presence of 400 foreign companies in its territory, the opportunities for post-pandemic economic growth and the quality and education of the population.
Beyond everything, the generation of green hydrogen is an activity that will encourage the installation of a new industry, promoting economic reactivation and linkages.
International business initiatives
It turns out that the Australian firm Kadelco is one of those interested in investing $3.3 billion in a new green hydrogen plant in Costa Rica, with the capacity to produce 50,000 tons of green hydrogen per year, from the renewable energies offered by the country.
The new project of the Kadelco company will include the construction of a port and the general investment is estimated at about $3,300 million, for the generation of 2,600 direct jobs.
Everything arose through a meeting between the president Carlo Alvarado and those who represent the Australian company, there a memorandum of understanding was signed to identify the conditions of electricity supply for the production of green hydrogen between the Costa Rican Institute of Electricity (ICE) and the firm.
The memorandum contains mechanisms for exchanging technical information on quality, power, availability, carbon content and seasonality of electricity supply, as well as joint cooperation to facilitate the installation of this company in Costa Rica.
It is noteworthy that the company has offices in Sydney, Singapore and London and has been developing infrastructure and industrial projects since 2006. In this sense, companies such as Ad Astra Rocket, until now, have played a fundamental role in the study of hydrogen in Costa Rica and its potential energy uses, in the last 10 years. In the process of operation, there have been problems such as the high cost of electricity to operate efficiently.
What is green hydrogen energy production and what are its benefits?
The energy production of green hydrogen is a developing industry that requires large amounts of electrical energy, but scientists consider that it can be profitable for the energy transformation of industries that today require high use of fuels such as heavy and long-distance transport (air, maritime and railway).
Hydrogen is obtained through electrolysis processes; that is, from the rupture of water molecules that are divided into hydrogen and oxygen through electricity. The hydrogen, then, is used as fuel.
Hydrogen production is also advancing in many other parts of the world. However, 95% of the 120 million tons produced annually at the international level comes from sources that are not renewable, according to a recent publication in the Spanish newspaper El País, this provides an incentive for Costa Rica, according to various specialists.
