{"id":8535,"date":"2023-06-14T21:58:00","date_gmt":"2023-06-14T21:58:00","guid":{"rendered":"https:\/\/teameuroperh2.com\/the-government-of-chile-and-the-european-union-launch-two-new-renewable-hydrogen-cooperation-initiatives-worth-e225-million\/"},"modified":"2024-02-13T18:57:18","modified_gmt":"2024-02-13T18:57:18","slug":"the-government-of-chile-and-the-european-union-launch-two-new-renewable-hydrogen-cooperation-initiatives-worth-e225-million","status":"publish","type":"post","link":"https:\/\/teameuroperh2ue.com\/en\/the-government-of-chile-and-the-european-union-launch-two-new-renewable-hydrogen-cooperation-initiatives-worth-e225-million\/","title":{"rendered":"The Government of Chile and the European Union launch two new renewable hydrogen cooperation initiatives worth \u20ac225 million"},"content":{"rendered":"\t\t
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Today, at the palace of La Moneda, the President of the European Commission, Ursula von der Leyen, together with the President of the Republic of Chile, Gabriel Boric, led the ceremony launching two new cooperation actions between the European Union and Chile that will contribute to the growing development of the renewable hydrogen industry in Chile.<\/em><\/p>

These actions are part of the Team Europe Initiative for the Development of Renewable Hydrogen in Chile, which constitutes a joint effort by the European Union and its Member States to promote cooperation with Chile in the development of its renewable hydrogen economy and is carried out within the framework of the European Union’s ‘Global Gateway’ investment and connectivity strategy.<\/p>

For the European Union, this launch is a big step in its bilateral relations with Chile, having announced two new cooperation actions to implement the Team Europe Initiative for the development of renewable hydrogen in Chile: a technical assistance project and the creation of a fund that will directly finance green hydrogen production projects. It is a very relevant example of the type of collaboration that the European Union wants to promote with Chile and Latin America, to advance towards new energy sources and climate-neutral and clean economies.<\/p>

At the official ceremony, the President of the European Commission, Ursula von der Leyen, stated that \u201cthis is one of the most important projects we can embark on 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 exports of renewable hydrogen to the world and, of course, also to its partners, such as the European Union.\u201d<\/p>

For his part, the President of Chile, Gabriel Boric, highlighted how pleased he was that \u201cthe EU recognises Chile’s leadership and supports the country’s plan to become the most competitive producer of green hydrogen on the planet by 2030\u201d. He also valued the EU’s interest in carrying out concrete projects that install capacity and build key knowledge for the future of Chile and the world. \u201cThis industry will provide a value chain that includes knowledge, worker training, first-class technology, respect and care for nature.\u201d<\/p>

The Minister of Energy, Diego Pardow, also participated in the event as did the Minister of Finance, Mario Marcel; the Vice President of CORFO, Jos\u00e9 Miguel Benavente; representatives of the European Investment Bank (EIB), the State Development Bank of the Federal Republic of Germany (KfW); in addition to the Ambassador of the European Union in Chile and Ambassadors of the Member States accredited in the country.<\/p>

In the first part of the ceremony, the \u2018Team Europe Project for the Development of Renewable Hydrogen in Chile\u2019 was launched, a technical assistance programme that will strengthen conditions for the promotion of the renewable and sustainable hydrogen economy in Chile.<\/p>

This project seeks to strengthen an environment conducive to the renewable hydrogen economy; capacity development and knowledge transfer; technological development; the generation of impact assessments on infrastructure and sustainability; as well as the development of projects and business cooperation and financing, all relevant measures for the promotion of this industry in the country with a sustainable perspective.<\/p>

The project has a budget of \u20ac4 million from the European Union, complemented by another \u20ac4 million from the German Federal Ministry of Economy and Climate Protection (BMWK).<\/p>

Immediately afterwards, the creation of the \u2018Team Europe Renewable Hydrogen Fund in Chile\u2019 was announced \u2013 a joint initiative of the European Investment Bank (EIB) and the German Development Bank (KfW), led by the Delegation of the European Union in Chile \u2013 which will channel financing for the development of projects for the production and use of renewable hydrogen.<\/p>

This Fund constitutes a project financing mechanism that combines a grant of \u20ac16.5 million from the European Union’s Latin American and Caribbean Investment Facility (EU LACIF) and \u20ac200 million in credit from the European Investment Bank and KfW (who contribute 100 million euros each). The fund will be managed by CORFO and will focus on the development of specific projects for the production and applications of renewable hydrogen in Chile. This fund will allow more private and public financing to be mobilised for renewable hydrogen projects.<\/p>