Context
The European Green Deal: Let’s try to be the first climate neutral continent
Climate change and environmental degradation are an existential threat that Europe and the rest of the planet are facing. The European Green Deal is therefore presented as a combination of political initiatives that aim to put the EU on the path towards an ecological transition as well as achieving climate neutrality by 2050.
The European Green Deal is the basis for transforming the EU into a fair and prosperous society with a modern and competitive economy that is efficient in its use of resources.
The Green Deal is also key for the post Covid-19 pandemic sustainable recovery. A third of the €1.8 billion in investments from the NextGenerationEU recovery plan and the EU’s seven-year budget are financing it.
In the context of the accelerating climate crisis, in June 2022, the EU adopted a new Climate Law that makes climate neutrality by the middle of the century a legally binding commitment and raises the target of reducing greenhouse gas emissions to at least 55% by 2030 in comparison with 1990 levels.
Implementation is the most difficult and key part of this strategy. For that purpose, the European Commission adopted the ‘Fit for 55’ package of proposals.
This covers a full spectrum of policies that range from renewable energies to energy efficiency, the energy performance of buildings, the use of soil and the regime for trading greenhouse gas emission rights, which regulates the biggest carbon market in the world.
Chile and the EU are partners in the application of global, regional and national green agendas based on sustained cooperation in terms of climate change adaptation and mitigation, existing cooperation for the development of clean, renewable and innovative energy sources, in particular for boosting the renewable hydrogen economy, as well as energy efficiency and the just transition.
«Fit for 55»
The Green Deal is also key for the post Covid-19 pandemic sustainable recovery. A third of the €1.8 billion in investments from the NextGenerationEU recovery plan and the EU’s seven-year budget are financing it.
In the context of the accelerating climate crisis, in June 2022, the EU adopted a new Climate Law that makes climate neutrality by the middle of the century a legally binding commitment and raises the aim of reducing greenhouse gas emissions to at least 55% by 2030 in comparison with 1990 levels.
Implementation is the most difficult and key part of this strategy. For that purpose, the European Commission adopted the ‘Fit for 55’ package of proposals.
«Fit for 55»
This covers a full spectrum of policies that range from renewable energies to energy efficiency, the energy performance of buildings, the use of soil and the regime for trading greenhouse gas emission rights, which regulates the biggest carbon market in the world.
Chile and the EU are partners in the application of global, regional and national green agendas based on sustained cooperation in terms of climate change adaptation and mitigation, existing cooperation for the development of clean, renewable and innovative energy sources, in particular for boosting the renewable hydrogen economy, as well as energy efficiency and the just transition.
The Green Deal is also key for the post Covid-19 pandemic sustainable recovery. A third of the €1.8 billion in investments from the NextGenerationEU recovery plan and the EU’s seven-year budget are financing it.
In the context of the accelerating climate crisis, in June 2022, the EU adopted a new Climate Law that makes climate neutrality by the middle of the century a legally binding commitment and raises the target of reducing greenhouse gas emissions to at least 55% by 2030 in comparison with 1990 levels.
Implementation is the most difficult and key part of this strategy. For that purpose, the European Commission adopted the ‘Fit for 55’ package of proposals.
«Fit for 55»
This covers a full spectrum of policies that range from renewable energies to energy efficiency, the energy performance of buildings, the use of soil and the regime for trading greenhouse gas emission rights, which regulates the biggest carbon market in the world.
Chile and the EU are partners in the application of global, regional and national green agendas based on sustained cooperation in terms of climate change adaptation and mitigation, existing cooperation for the development of clean, renewable and innovative energy sources, in particular for boosting the renewable hydrogen economy, as well as energy efficiency and the just transition.
Global Gateway
The Team Europe RH2 Project in Chile is part of this European Union strategy for green investments, as an example of cooperation that will facilitate the achievement of shared climate objectives as well as boost the development of the renewable hydrogen economy in Chile.
Global Gateway is the EU’s new investment, connectivity and cooperation strategy that aims to create intelligent, sustainable and secure links with partners from all over the world in the digital, climate change and renewable energy, transport, health, education and research sectors, via the development of infrastructure throughout the world.
Global Gateway is based on the new financial instruments of the EU’s multiannual (2021-2027) financial framework; including the NDICI – Global Europe as well as others such as the Instrument for Pre-accession Assistance (IPA III), the ‘Connect Europe’ mechanism and Horizon Europe.
Global Gateway is the EU’s new investment, connectivity and cooperation strategy that aims to create intelligent, sustainable and secure links with partners from all over the world in the digital, climate change and renewable energy, transport, health, education and research sectors, via the development of infrastructure throughout the world.
Global Gateway is based on the new financial instruments of the EU’s multiannual (2021-2027) financial framework; including the NDICI – Global Europe as well as others such as the Instrument for Pre-accession Assistance (IPA III), the ‘Connect Europe’ mechanism and Horizon Europe.
Team Europe Initiatives
Team Europe Initiatives are emblematic initiatives that yield concrete results between the EU and its partner countries, focused on identifying critical priorities in each region and ensuring results with a transformative impact.
Team Europe is made up of the European Union and the Member States of the EU, including its executive bodies and public development banks such as the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD).
Team Europe Initiatives are open to all participants who are interested in working together in the design, financing and execution of actions to benefit to the maximum from European experience and resources. The TEIs also bring together the best combination possible of tools, modalities and partners (for example, civil society organisations and the private sector) to achieve the envisaged impact.
Between 2021 and 2027, in the framework of the Global Gateway, €300 billion of investments will be mobilised in strategic areas thanks to Team Europe Initiatives.
The EU Member States are the following (in alphabetical order):
Austria
Estonia
Italy
Portugal
Belgiun
Finland
Latvia
Romania
Bulgaria
France
Lithuania
Slovakia
Croatia
Germany
Luxembuorg
Slovenia
Cyprus
Greece
Malta
Spain
Czech Rep.
Hungary
Netherlands
Sweden
Denmark
Ireland
Poland
Team Europe Initiatives are emblematic initiatives that yield concrete results between the EU and its partner countries, focused on identifying critical priorities in each region and ensuring results with a transformative impact.
Team Europe is made up of the European Union and the Member States of the EU, including its executive bodies and public development banks such as the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD).
Team Europe Initiatives are open to all participants who are interested in working together in the design, financing and execution of actions to benefit to the maximum from European experience and resources. The TEIs also bring together the best combination possible of tools, modalities and partners (for example, civil society organisations and the private sector) to achieve the envisaged impact.
Between 2021 and 2027, in the framework of the Global Gateway, €300 billion of investments will be mobilised in strategic areas thanks to Team Europe Initiatives.
The EU Member States are the following (in alphabetical order):
Austria
Croatia
Denmark
France
Hungary
Latvia
Malta
Portugal
Slovenia
Belgiun
Cyprus
Estonia
Germany
Ireland
Lithuania
Netherlands
Romania
Spain
Bulgaria
Czech Rep.
Finland
Greece
Italy
Luxembuorg
Poland
Slovakia
Sweden
Austria
Croatia
Denmark
France
Hungary
Latvia
Malta
Portugal
Slovenia
Belgium
Cyprus
Estonia
Germany
Ireland
Lithuania
Netherlands
Romania
Spain
Bulgaria
Czech Republic
Finland
Greece
Italy
Luxembourg
Poland
Slovakia
Sweden
TEI RH2 objetives
The Team Europe Initiative for the Development of Renewable Hydrogen in Chile (TEI RH2) was created in this context.
This is a joint effort by the EU and its Member States to promote cooperation with Chile for the development of its renewable hydrogen economy.
The TEI RH2 initiative will support the decarbonisation of the Chilean economy, creating jobs and generating business opportunities for Chilean and European companies whilst at the same time satisfying Europe’s own demand for renewable hydrogen imports and taking into account the EU’s efforts to diversify its energy supply and to accelerate the energy transition (REPowerEU).
The recently created European Hydrogen Bank will create financial incentives for the import of renewable hydrogen from third countries, which could help exports from Chile to the EU to a great extent.
EU Member States take part in the TEI RH2 initiative via various courses of action, mainly via the private sector: company missions/chambers of commerce, supply and development of technology, investors and promoters of projects, users of renewable energies and synthetic fuels, research and innovation actions, implementation of EU programmes (GIZ, AECID, FIIAP), memoranda of understanding for the import of RH2 with European ports (Rotterdam, Antwerp, Zeebrugge, Hamburg) and international cooperation programmes to promote the development/imports of renewable hydrogen, such as Germany’s Global H2 programme, in which the Netherlands is also participating.
With this initiative, the European Union seeks to support the sustainable development of territories according to the highest social and environmental standards.
The Team Europe Initiative for the Development of Renewable Hydrogen in Chile (TEI RH2) was created in this context.
This is a joint effort by the EU and its Member States to promote cooperation with Chile for the development of its renewable hydrogen economy.
The TEI RH2 initiative will support the decarbonisation of the Chilean economy, creating jobs and generating business opportunities for Chilean and European companies whilst at the same time satisfying Europe’s own demand for renewable hydrogen imports and taking into account the EU’s efforts to diversify its energy supply and to accelerate the energy transition (REPowerEU).
The recently created European Hydrogen Bank will create financial incentives for the import of renewable hydrogen from third countries, which could help exports from Chile to the EU to a great extent.
EU Member States take part in the TEI RH2 initiative via various courses of action, mainly via the private sector: company missions/chambers of commerce, supply and development of technology, investors and promoters of projects, users of renewable energies and synthetic fuels, research and innovation actions, implementation of EU programmes (GIZ, AECID, FIIAP), memoranda of understanding for the import of RH2 with European ports (Rotterdam, Antwerp, Zeebrugge, Hamburg) and international cooperation programmes to promote the development/imports of renewable hydrogen, such as Germany’s Global H2 programme, in which the Netherlands is also participating.
With this initiative, the European Union seeks to support the sustainable development of territories according to the highest social and environmental standards.
Areas of Action
We have defined three areas of cooperation for the implementation of the Team Europe Initiative RH2:
Technical and Technological Cooperation
This refers to cooperation actions for the generation of an environment that favours the development of renewable hydrogen. This includes technical assistance programmes for the production of studies, policies and programmes in various areas, with special emphasis on regulatory development, certification, innovation and technology, training and strengthening capacities, environmental and social studies, infrastructure studies etc.
The Team Europe RH2 Project is the key tool for achievements in this area of cooperation.
Business Cooperation
This refers to actions that promote trade, technological and logistics cooperation between Chile and Europe as well as the generation of aggregated supply and demand for the production and applications of renewable hydrogen in Chile.
This means, for example, boosting the development of market research, the organisation of seminars, high level events, networking/matchmaking activities and other cooperation activities to promote the strengthening of the RH2 market in Chile.
In this area, EU Member States play a key role by boosting these kinds of actions between European, Chilean and Latin American organisations to promote an environment that is conducive to the development of the RH2 industry.
This refers to actions that promote trade, technological and logistics cooperation between Chile and Europe as well as the generation of aggregated supply and demand for the production and applications of renewable hydrogen in Chile.
This means, for example, boosting the development of market research, the organisation of seminars, high level events, networking/matchmaking activities and other cooperation activities to promote the strengthening of the RH2 market in Chile.
In this area, EU Member States play a key role by boosting these kinds of actions between European, Chilean and Latin American organisations to promote an environment that is conducive to the development of the RH2 industry.
Financial Cooperation
This refers to funding projects and technology for the production and application of renewable energy, making use of European funding instruments.
The key tool that promotes the area of financial cooperation is the Global Gateway RH2 Funding Platform, a joint initiative of the European Investment Bank (EIB), and the German Development Bank (KfW), led by the Delegation of the EU in Chile, which will channel funding for the development of projects to produce and use renewable hydrogen with a budget of €216 million.
Other means and instruments of private and public funding could be mobilised to leverage investments for renewable hydrogen projects, such as: via the Latin American and Caribbean Investment Facility (LACIF); the European Fund for Sustainable Development Plus (EFSD+); possible loans granted by European financial institutions; the European Investment Bank in alliance with global hydrogen programmes such as H2 Global, export credit agencies; etc.
This refers to funding projects and technology for the production and application of renewable energy, making use of European funding instruments.
The key tool that promotes the area of financial cooperation is the Global Gateway RH2 Funding Platform, a joint initiative of the European Investment Bank (EIB), and the German Development Bank (KfW), led by the Delegation of the EU in Chile, which will channel funding for the development of projects to produce and use renewable hydrogen with a budget of €216 million.
Other means and instruments of private and public funding could be mobilised to leverage investments for renewable hydrogen projects, such as: via the Latin American and Caribbean Investment Facility (LACIF); the European Fund for Sustainable Development Plus (EFSD+); possible loans granted by European financial institutions; the European Investment Bank in alliance with global hydrogen programmes such as H2 Global, export credit agencies; etc.
DELEGATION OF THE EUROPEAN UNION IN CHILE
Address: Av. Apoquindo 2929, piso 15, Las Condes, 7550246 Santiago.
Email: delegation-chile-coop@eeas.europa.eu
Telephone number: +562 2428 6800
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