HIF Uruguay Has Until December to Decide on Green Hydrogen Plant Investment

Uruguay's Minister of Industry, Energy and Mining, Fernanda Cardona, announced that HIF Uruguay has until the end of December to make a final investment decision for a green hydrogen plant in Paysandú. The project, which dates back to 2022, has seen renewed negotiations under the current administration.

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We have these days to be able to close what was the entire negotiation with the Government, with different Ministries.

Cardona stated that a memorandum of understanding was signed in December 2025, establishing working criteria. "We have these days to be able to close what was the entire negotiation with the Government, with different Ministries," she explained during a trip to Spain. Following the finalization of these details, the company will have until year-end to commit to the investment.

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I think we are doing very well. I think we have really advanced a lot. We have reached criteria and figures that make us both feel comfortable.

The minister expressed optimism about the progress, noting that both parties have reached comfortable agreements on key figures. The proposed location for the plant is unlikely to change significantly from the original plan, with discussions underway about potentially sharing industrial facilities with the state-owned oil company ANCAP in Paysandú.

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The company also saw that with good eyes. I think in a few months there was an exchange that I think was of added value between the company and the Government, very joint, very articulated, with ministries that are on top of the issue, and that really the doors are open to be able to talk all the time.

Cardona also addressed concerns raised by Argentina regarding potential environmental and economic impacts on nearby riverside communities. She confirmed that Uruguay met with Argentina to clarify the project details, which included a revised location that partially addresses their concerns. The minister highlighted the collaborative exchange between the company and the government, involving multiple ministries actively engaged in the process.

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Part of the meeting also had to do with telling them what the exchange we had with the company was like, and they saw this last possibility with good eyes. It really moves it a little further away, changes the location a bit and in a way their point was also taken up.