Peru approves Law 31992, the Law fostering green hydrogen

Published on March 23, Law 31992, the Law fostering green hydrogen, is aimed at providing the rules determining the measures needing to be implemented to underpin development and growth in an industry that will enable green hydrogen to be used as fuel and as an energy vector.

The law’s main provisions notably include the following:

1. Green hydrogen is defined as an energy vector produced with low greenhouse gas emitting technology.
2. Responsibility is conferred on the Energy and Mining Ministry (MINEM) for fostering the generation, production and use of green hydrogen in industry using renewable energy sources. Additionally, the ministry will have to devise industry-based energy policies and plans that will enable development of the value chain of green hydrogen by determining short-, medium- and long-term targets that are aligned with the national energy policy.
3. All policies, plans and related legislation fostering the development of green hydrogen will have to guarantee, among other elements: (i) Implementation of the recommendations of the temporary multi-industry task force, aimed at proposing regulatory and promotional alternatives designed to boost and enable project development; (ii) territorial planning across the country to create poles of production with development centers, and production and processing plants for green hydrogen; and, (iii) economic and tax benefits, for research, production and processing, transporting, selling, exporting and using green hydrogen as fuel and as an energy vector in its various applications.
4. Through its National Scientific Research and Further Studies Program (PROCIENCIA), the National Science, Technology and Innovation Council (CONCYTEC) fosters scientific and technology research, together with the development of technology related to energy by training specialized professionals in this field in conjunction with public and private universities.

Lastly, it has been determined that the regulations for the law and any legislation required for correct application of the law must be published by September 20, 2024.