Header image courtesy of EEAS
The EU and Chile have signed two new cooperation agreements on renewable hydrogen, as Offshore Energy reports. The new agreements will contribute to the “Team Europe Initiative for the Development of Renewable Hydrogen in Chile” program.
The two initiatives involve technical assistance from EU member states to help Chile develop its renewable hydrogen sector. Also planned is a fund that will support green energy projects.
The technical assistance part of the agreement will promote an enabling environment for Chile’s renewable energy economy. It will ensure capacity building, knowledge transfer, and other measures required to move green hydrogen forward in the South American country.
The EU has budgeted €4 million for the initiatives, supplemented by another €4 million from the German Federal Ministry of Economics and Climate Protection (BMWK).
Team Europe Renewable Hydrogen Fund in Chile is a second fund sponsored by the European Investment Bank (EIB) and the German Development Bank (KfW). It is derived from a €6.5 million grant from the EU’s Latin America and Caribbean Investment Facility (EU LACIF) and €200 million in loans. The loans are powered by the EIB and KfW). These funds will be administered by CORFO to support hydrogen production projects in Chile.
President of the EU, Ursula von der Leyen, said, “this is one of the most important projects that we can undertake together. This Renewable Hydrogen Fund, here in Chile, will support the development of this strategic industry. It will create good jobs in the country, and boost its renewable hydrogen exports to the world and, of course, also to its partners, such as the European Union”.
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