Agreement between the EU and Uruguay on initiatives in the field of renewable energies

The European Union (EU) and Uruguay have signed a memorandum of understanding, setting the stage for potential future investments in renewable energy, energy efficiency, and renewable hydrogen under the EU’s Global Gateway initiative.

Representatives of both entities signed this agreement during the summit between the EU and the Community of Latin American and Caribbean States (CELAC).

The agreement outlines potential cooperative areas, including the enhancement of energy efficiency measures, exchanges on renewable energy policies, and renewable hydrogen and its derivatives.

The EU and Uruguay plan to work collaboratively on various aspects of these areas, from defining terms and methodologies to setting up certification systems and sustainability standards.

Investments as per the agreement are to be compliant with existing environmental legislation, considering both land and marine sectors within the EU and Uruguay.

The agreement also emphasizes the importance of protecting, conserving, and restoring water systems and aquatic ecosystems.

This agreement is part of a broader energy dialogue that aims to achieve climate neutrality by 2050, recognizing the significant role that renewable energy and efficiency will play in achieving the Paris Agreement’s goals.

The Global Gateway investment initiative, overseen by the European Commission, targets sustainable and digital investment opportunities across Latin America and the Caribbean.

Implementation of the Global Gateway investments will involve collaboration with various public finance sources, including the European Investment Bank, and private sector participation.

More: Uruguay news in English, every day from The Rio Times.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error