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Signature(s)

Amount
€ 105,323,630.8
Countries
Sector(s)
Chile : € 105,323,630.8
Industry : € 47,395,633.86
Energy : € 57,927,996.94
Signature date(s)
30/12/2024 : € 47,395,633.86
30/12/2024 : € 57,927,996.94

Summary sheet

Release date
26 June 2023
Status
Reference
Signed | 30/12/2024
20220628
Project name
Promoter - financial intermediary
CHILE - TEAM EUROPE GREEN HYDROGEN PLATFORM
CORPORACION DE FOMENTO DE LA PRODUCCION
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 100 million
EUR 316 million
Location
Sector(s)
Description
Objectives

The operation consists in a framework loan (FL) with the sovereign loan under the Team Europe Green Hydrogen Fund for Chile, which is a platform to finance the incipient green hydrogen market, foster local supply chains and strengthen the potential for green hydrogen exports to Europe.

The project is part of the Team Europe Initiative (TEI) on green Hydrogen Development in Chile, aiming to support the decarbonisation of the Chilean economy, create green jobs and generate business opportunities for Chilean and European companies, whilst contributing to meet Europe's own demand for import of green hydrogen. The TEI is promoted by the EU Delegation in Chile.

Additionality and Impact

The proposed operation consists of an up to EUR 100m (or its equivalent in USD) framework loan to the Republic of Chile, to promote the country's green hydrogen economy. The EIB financing, to be structured as a framework loan (FL), will be integrated in the Team Europe Green Hydrogen Fund for Chile.


The Team Europe Green Hydrogen Fund for Chile is a joint initiative by the EIB, KfW and the Delegation of the European Union in Chile to promote the incipient green hydrogen market in Chile, foster local supply chains and strengthen the potential for green hydrogen exports to Europe, while considering the importance of a just energy transition. The presented initiative also has the potential to become a role model in the region.


The operation is expected to address in particular the market failure of negative climate and environmental externalities, as well as positive knowledge/learning externalities.


The EIB will provide long-term financing for the economic life of the assets and EIB's contribution is an important element of the overall financing plan in terms of additionality, diversification as well as duration and pricing. EIB's involvement will complement the financing provided by other International Financial Institutions, therefore facilitating the financing of the full programme.


Environmental aspects
Procurement

The EIB will require the promoter to ensure that the implementation of the project will be done in accordance with the EIB's Environmental and Social Standards.

The EIB will require the promoter to ensure that the implementation of the project is carried out in accordance with the EIB's Guide to Procurement.

Milestone
Under appraisal
Approved
Signed
17 July 2023
30 December 2024
Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Data Sheet (ESDS) - CHILE - TEAM EUROPE GREEN HYDROGEN PLATFORM
Publication Date
20 Jul 2023
Document language
Main Topic
Lending
Document Number
170744642
Document Focus
Environmental Information
Project Number
20220628
Sector(s)
Countries
Publicly available
Download now

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The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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