Chile’s government has announced a recalibration of its green-hydrogen ambitions, signaling a shift in strategy as international demand softens. “The international market for green hydrogen has cooled down a bit,” Pardow said, noting that Europe has already lowered its goals in response to slower-than-expected uptake. Despite the cooling market, Chile continues to progress on environmental permitting for large-scale projects. Among the active players are TotalEnergies, HIF Global, and other international developers, overseeing projects collectively valued at approximately $40 billion, currently under environmental impact assessment. Chile’s adjustment in green-hydrogen targets illustrates the broader volatility in the sector, where ambitious production goals confront market realities.