On January 11th, 2024 at the Cumbres Lastarria Hotel in Santiago, an event was held to publicly announce the launch of the Financial Service Assistance (FSA) in the framework of the “Team Europe Renewable Hydrogen RH2” project. This technical assistance project, funded by the European Union and the German Federal Ministry of Economics and Climate Protection (BMWK), and implemented by the German Agency for International Cooperation (GIZ) and the Spanish Agency for International Development Cooperation (AECID), aims to boost the green hydrogen economy in Chile.

The FSA will act as a bridge between renewable hydrogen project developers and financiers, offering the former advice and accompaniment to improve the viability and financial structure of the projects. This cost-free service will be adapted to the specific needs of each project (“tailor-made”) and is divided into four stages:

  1. Support in project structuring,
  2. Focusing of the investment strategy,
  3. Support in accessing project finance, and
  4. Support in the transactional stage of the project.

The “Team Europe Renewable Hydrogen RH2” project is part of the “Team Europe Initiative for the Development of Renewable Hydrogen in Chile” (TEI RH2), under the leadership of the Delegation of the European Union in Chile. This initiative is a joint effort of the European Union and its Member States to promote cooperation with Chile in the development of its renewable hydrogen economy (H2R). It seeks to strengthen capacities, transfer knowledge, boost technological development and foster business cooperation in the renewable hydrogen sector. This contributes to the energy transition and climate change mitigation in Chile and the world.

The launch of the FSA marks a significant milestone in the advancement of the TEI H2R project and the sustainable development of the renewable hydrogen economy in Chile.

Photo Credit: H2LAC