In Luxembourg, the European Investment Bank (EIB), KfW Development Bank, Corporación de Fomento de la Producción (CORFO) and the Chilean Ministry of Finance signed a statement of intent to support Chile’s growing renewable hydrogen industry via the Team Europe Renewable Hydrogen Funding Platform for Chile. The signing took place in Santiago de Chile and was attended by European Commission President Ursula von der Leyen and Gabriel Boric, President of the Republic of Chile.
The platform will support the decarbonization of Chile’s economy, creating green jobs and generating business opportunities for Chilean and European companies while also helping Europe meet its import demand for renewable hydrogen.
Under the platform, the EIB and KfW can provide financing to the Republic of Chile of up to €200 million (€100 million each), with CORFO as the implementing agency to channel the funds to renewable hydrogen initiatives. The EU Latin America and Caribbean Investment Facility (LACIF) will provide an additional grant of €16.5 million. The Team Europe Renewable Hydrogen Funding Platform for Chile supports Chile’s ambition to make its main sources of energy generation renewable and clean, with 100% clean energy before 2050.
