The European Commission has launched a €225m Fund for Renewable Hydrogen in Chile to tackle domestic liquidity issues and capitalise on its export potential.
Delivering a presentation with Chile President Gabriel Boric, European Commission President Ursula von der Leyen said with global demand for hydrogen “skyrocketing”, the fund will support the development of this strategic industry, create jobs and boost exports of renewable hydrogen to the world “but of course also to partners, like the European Union”.
She said, “The European Union has decided by 2030, not only to produce domestically 10 million tonnes of green hydrogen but also to import to the European Union 10 million tonnes of green hydrogen per year. So we need friends that are the producers of this green hydrogen. And for us, Chile, this is one of the most important projects that we can embark on together.”
She welcomed the first steps taken by Chile to provide a “clear, predictable and fair framework” for companies in the renewables sector as they continue to face liquidity challenges. “It is important to maintain existing investments and to attract new ones,” she said. “This is what we are going to work on together.”
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