LatinNews Daily - 09 June 2023

In brief: Uruguay unveils major investment in green energy

* Uruguay’s President Luis Lacalle Pou has announced a US$4bn investment in green hydrogen and renewable energy. According to Uruguay’s state-owned oil company Ancap, the US-headquartered electrofuel (e-fuels) company HIF Global has won the bidding process to develop the initiative. Ancap describes this project as the largest investment in the country’s history. The president stated that a green hydrogen plant will be built in Paysandú department with a US$2bn investment, which is expected to produce 180,000 tonnes of e-fuels a year, while a further US$2bn will be invested in other renewable energy projects in Paysandú, including wind and solar farms. According to Ancap, the construction process is expected to start in 2023 and last 30 months, providing between 1,600 and 3,200 jobs, with 300 permanent jobs to be created once the plant is up and running.

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