The European Commission, the European Investment Bank (EIB), KfW Development Bank (KfW), Corporación de Fomento de la Producción (CORFO), and the Chilean Ministry of Energy have joined forces to support Chile's renewable hydrogen industry through the Team Europe Renewable Hydrogen Funding Platform for Chile. The initiative aims to provide financial backing for renewable hydrogen projects in Chile, with a total funding capacity of €216.5 million. The EIB and KfW are set to offer up to €200 million in financing, split equally between the two entities, with CORFO managing the allocation of funds to relevant initiatives. Additionally, the EU's Latin America and Caribbean Investment Facility (LACIF) will contribute a grant of €16.5 million to further bolster the support. The primary goal of this collaboration is to aid in Chile's decarbonization efforts by promoting green job creation, business opportunities, and advancing the renewable hydrogen sector. By supporting the development of new renewable energy generation capacity and electrolyzer capacity in Chile, the operation anticipates a significant impact on the country's energy landscape. According to the EU, at least 150 MW of each capacity are expected to be established as a result of this initiative. The European Commissioner for International Partnership highlighted the importance of renewable hydrogen in the future energy mix, emphasizing the collaborative efforts between the involved parties to drive innovation and growth in the sector. The Minister of Energy of Chile expressed enthusiasm for the project, recognizing the potential of the green hydrogen industry to drive decarbonization while creating employment opportunities and benefiting local communities. This endeavor signifies a crucial step in the long-standing partnership between the EU and Chile in the energy sector, aligning with broader investment agendas for sustainable growth in Latin America and the Caribbean. Overall, the initiative showcases a positive outlook towards renewable hydrogen, emphasizing its role in fostering economic development, environmental sustainability, and international cooperation.