European Commission President Ursula von der Leyen has unveiled a new green hydrogen fund during her visit to Chile. With an initial budget of €225 million, the fund aims to support the production of this sustainable fuel within Chile.
Von der Leyen expressed her enthusiasm, stating, “This is a significant step forward, as the global demand for hydrogen is rapidly escalating and expected to surge in the coming years. As an example, the European Union has committed to producing 10 million tonnes of green hydrogen domestically by 2030 and importing an additional 10 million tonnes annually. Therefore, we seek partnerships with countries that can serve as producers of this green hydrogen.”
Highlighting the importance of Chile as a valuable ally, she emphasized, “Chile is our friend, and this collaboration represents one of the most crucial projects we can undertake together. The Fund for Renewable Hydrogen in Chile will foster the development of this strategic industry, creating employment opportunities within Chile and bolstering the export of renewable hydrogen to the world, including our partners in the European Union.”
During her visit, discussions were held on diversifying renewable energy sources in Chile. Von der Leyen commended Chile's initial efforts to establish a clear, predictable, and equitable framework for companies operating in the renewables sector, particularly amid liquidity challenges. She expressed hope and confidence in Chile's consideration of further measures to support these companies, aiming to both sustain existing investments and attract new ones.
The European Commission President concluded, “Our collaborative efforts will center on maintaining and expanding investments, an objective we are committed to achieving together.”
