UK export credit agency offers over GBP 5bn for green H2 in Chile

The UK government's export credit agency (UKEF) announced on Monday that it has signed a partnership agreement with Chilean economic development agency Corfo to pool resources and jointly finance eligible green hydrogen projects in Chile.

UKEF said that it has over GBP 5 billion (USD 6.57bn/EUR 5.92bn) in financing available for businesses in Chile that want to use UK goods and services in hydrogen projects. These loans can be denominated in Chilean pesos.

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The Chilean government has already pledged USD 50 million (EUR 45.1m) to support green hydrogen development in the country. The UKEF-Corfo collaboration is expected to increase liquidity in Chile’s renewables sector and create millions of pounds in new export opportunities for the UK cleantech businesses, the announcement said.

“UK businesses are world-renowned as leaders in the clean energy sector. This is a win-win agreement which paves the way for major UK export contracts and will support Chile’s ambitious plan for transitioning to renewable energy,” said Tim Reid, CEO of UKEF.

(GBP 1.0 = USD 1.313/EUR 1.184)

(USD 1.0 = EUR 0.902)