The European Investment Bank (EIB), KfW Development Bank and the EU Latin America and the Caribbean Investment Facility (LACIF) will provide up to €216.5 million in finance for renewable hydrogen projects in Chile.
Through the Team Europe Renewable Hydrogen Funding Platform for Chile, the EIB, KfW, Corporacion de Fomento de la Produccion (CORFO), and the Chilean Ministry of Finance inked a statement to support Chile’s growing renewable hydrogen industry on Wednesday.
The platform will promote Chile’s renewable hydrogen industry and help meet the country’s aim of 100% clean energy by 2050.
The EIB and KfW will provide €100 million each, and LACIF will provide an additional grant of €16.5 million.
CORFO will act as the implementing agency to distribute the funds to select renewable hydrogen initiatives.
European Commission President Ursula von der Leyen and Gabriel Boric, president of the Republic of Chile, attended the signing ceremony, which took place in Santiago de Chile.
Since its inception in Chile in 1994, the EIB has granted over €776 million to improve the quality of life in Chile.
