According to Trend, the European Commission, the European Investment Bank (EIB), Germany’s KfW Bank, and Chilean institutions have signed an agreement to support the development of Chile’s renewable hydrogen industry.
The signing ceremony took place in Santiago, Chile, attended by European Commissioner for International Partnerships, Jutta Urpilainen, Chile’s Minister of Energy, Diego Pardow, CORFO Executive Vice President José Miguel Benavente, and representatives from the EIB and KfW.
This financing platform aims to support Chile’s economic decarbonization, create green jobs, and generate business opportunities for both Chilean and European companies. It will also help Europe meet its renewable hydrogen import needs. The initiative is part of the EU-Latin America and the Caribbean Global Gateway Investment Agenda, focusing on priority investments to meet infrastructure needs and promote regional growth and social cohesion.
The EIB and KfW will provide up to €200 million in financing, with CORFO managing the funds for renewable hydrogen projects. The EU-Latin America and Caribbean Investment Fund (LACIF) will offer an additional €16.5 million in grants. The platform supports Chile’s goal of achieving 100% clean energy by 2050, with plans to develop at least 150 MW of new renewable energy capacity and 150 MW of electrolyzer capacity.
Commissioner Urpilainen emphasized the significance of this partnership for both Chile and the EU’s renewable hydrogen industries.