Argentina Hydrogen Export Terminal Infrastructure Development Feasibility Study with Clean Energy Market Forecast

Executive Viability Abstract

This feasibility study evaluates the development of a large-scale Hydrogen Export Terminal in Argentina, primarily located in the Patagonia region. Leveraging the country's world-class wind capacity factor (exceeding 50%) and existing port infrastructure, the project aims to position Argentina as a primary supplier of Green Hydrogen/Ammonia to the European Union and Southeast Asian markets. The analysis confirms technical feasibility but highlights macroeconomic volatility as a primary risk factor.

## Technical Feasibility The project involves the integration of high-capacity wind farms (3GW+) with PEM electrolyzer banks and a cryogenic liquefaction/ammonia conversion plant. Port sites such as Bahía Blanca or San Antonio Este are identified as optimal due to deep-water access and existing industrial clusters. Challenges include freshwater sourcing for electrolysis, which will require desalination infrastructure. ## Market Analysis Global demand for clean hydrogen is projected to reach 600 Mtpa by 2050. Argentina's production cost is estimated at $1.50 - $2.50 per kg of H2, making it highly competitive against Australia and Chile. Key off-takers include Germany, Japan, and South Korea, driven by H2Global and similar subsidy mechanisms. ## Financial Projections Total CAPEX is estimated at $4.2 billion, including wind assets, electrolysis, and terminal facilities. Revenue is modeled on a 15-year fixed-price PPA (Power Purchase Agreement) equivalent for hydrogen delivery. Conservative pricing at $4.5/kg delivered (LCOH) yields strong EBITDA margins by year 5. ## Risk Assessment Key risks include Argentina's sovereign credit rating, currency volatility affecting local OPEX, and the high cost of capital. Mitigation strategies involve securing Multilateral Investment Guarantee Agency (MIGA) insurance and establishing offshore special purpose vehicles (SPVs).