Ecopetrol: Ecopetrol seals alliance with six international companies for hydrogen development

In order to enhance the results of its low-carbon hydrogen Strategic Plan (green, blue and white), Ecopetrol selected as strategic allies the companies Total Eren and EDF from France, Siemens Energy from Germany, H2B2 from Spain, Empati from United Kingdom and Mitsui of Japan.

Starting in June, these six companies and Ecopetrol will begin teamwork to articulate actions that will strengthen the development of the Strategic Plan for low-carbon hydrogen with specific projects to decarbonize hydrogen production from refineries and initiatives for industrial use and of sustainable mobility.

The main objectives of these alliances are:

Create value to achieve low-carbon hydrogen production cost competitiveness.
Structure financing and investment opportunities, and integrate the supply chain of new technologies.
Identify markets in early stages.
Strengthen access to renewable energy and ensure project execution times.
“We continue to advance in the development of the plan for the production of low-carbon hydrogen that seeks to diversify the portfolio and decarbonize our operations. Currently, we have 18 opportunities and studies underway to achieve this, and these alliances with specialized companies will strengthen our plan to achieve the objectives that we have set for ourselves in our 2040 Energy that Transforms strategy”, said the president of Ecopetrol, Felipe Bayón from Davos (Switzerland). ) where he participates in the annual meeting of the World Economic Forum.

More than 80 companies from 16 countries participated in a rigorous and transparent process, in which three qualifying stages were completed that resulted in the selection of the six companies to seal the alliance. The factors that were taken into account for their selection were the availability of investment resources, access to the latest technology, experience in project development, access to markets and added value.

For the execution of the strategic plan for green, blue and white hydrogen, which has as its goal a production of one million tons per year by 2040, the Ecopetrol Group estimates average annual investments close to US$140 million by 2024, equivalent to about $560 billion pesos. This energy source will contribute between 9% and 11% to the 50% reduction goal of scope 1, 2 and 3 emissions by 2050.