Baku, Azerbaijan, March 29. The European
Commission, European Investment Bank (EIB), KfW Development Bank,
and Chilean institutions have signed agreements to support the
growth of Chile’s renewable hydrogen industry, Trend reports.
The signing ceremony took place in Santiago de Chile and was
attended by European Commissioner for International Partnerships
Jozef Sikela, Chile’s Minister of Energy Diego Pardow, Executive
Vice-President of CORFO José Miguel Benavente, and representatives
from EIB and KfW.
The funding platform aims to decarbonize Chile’s economy, create
green jobs, and generate business opportunities for both Chilean
and European companies. It will also help Europe meet its renewable
hydrogen import needs. This initiative is part of the EU-Latin
America and the Caribbean Global Gateway Investment Agenda, which
focuses on priority investments to address infrastructure needs
while promoting growth and social cohesion in the region.
Under the platform, the EIB and KfW will provide financing of up
to 200 million euros, with CORFO managing the funds for renewable
hydrogen projects. An additional 16.5 million euro grant will be
provided by the EU Latin America and Caribbean Investment Facility
(LACIF). The platform supports Chile’s goal to achieve 100% clean
energy by 2050 and is expected to contribute to the development of
at least 150 MW of new renewable energy capacity and 150 MW of
electrolyzer capacity.
Commissioner Sikela noted the partnership’s importance for both
Chile and the EU in advancing the renewable hydrogen sector. EIB
Vice-President Ioannis Tsakiris emphasised the platform’s role in
supporting Chile’s climate action goals while strengthening
EU-Latin America cooperation.
Chile’s Minister of Energy Diego Pardow highlighted the job
creation potential and regional benefits of the green hydrogen
industry. CORFO’s José Miguel Benavente added that the new
initiative would help provide financial instruments to support
large-scale hydrogen projects.
Thomas Schmitt, Chargé d’Affaires of the German Embassy to
Chile, pointed out Chile’s renewable energy potential and the
importance of leveraging private investment for the development of
green hydrogen.
The Team Europe Renewable Hydrogen Funding Platform is part of
the EU’s broader Global Gateway Investment Agenda, which aims to
mobilise up to 300 billion euros for sustainable projects worldwide
between 2021 and 2027.