EU and Uruguay have taken a significant step towards enhancing their collaboration in the pursuit of clean energy transition. During the EU-CELAC Summit in Brussels, Commissioner for Energy Kadri Simson and Uruguay’s Minister for Foreign Affairs Francisco Bustillo Bonasso signed a Memorandum of Understanding on renewable energy, energy efficiency, and renewable hydrogen. This momentous occasion was witnessed by European Commission President Ursula von der Leyen and President of Uruguay Luis Lacalle Pou. The Memorandum of Understanding is part of the European Union – Latin America and the Caribbean Global Gateway Investment Agenda, which was presented by President von der Leyen at the EU-LAC Business Round Table.
Expressing her satisfaction with the cooperation, President Ursula von der Leyen said, “The EU and Uruguay share the ambition to boost the use of renewable energy sources, in line with our ambitious climate goals. We are aligned on the need for a rules-based, transparent, and undistorted global hydrogen market with reliable international standards and certification schemes to support the clean energy transition. This Memorandum of Understanding provides us with a basis to guide and intensify our work on these matters, as we both strive to reach climate neutrality by 2050.”
The signed Memorandum outlines the objectives and sets the stage for future collaborations in the form of a roadmap supported by the Global Gateway investment strategy. Areas of potential cooperation include the review and enhancement of policies for energy efficiency, exchanges on renewable energy and renewable hydrogen policies, as well as joint efforts in research, regulations, sustainability rules, certification systems, and measures to promote energy efficiency and the adoption of renewable hydrogen.
The partnership also aims to direct investments towards these crucial areas by providing clear financing guidelines for potential investors in both the European Union and Uruguay. The Memorandum emphasizes the importance of complying with relevant environmental legislation pertaining to marine and land sectors in both regions. It underlines the parallel focus on addressing climate and biodiversity crises and calls for policies promoting energy efficiency, renewable energy, and renewable hydrogen to consider the protection, conservation, and restoration of water systems and water-related ecosystems.
The EU and Uruguay have recently initiated an energy dialogue that encompasses renewable energy, energy efficiency, and renewable hydrogen. This builds upon the Framework Agreement for Cooperation signed between the two parties in 1992. Both sides share the common objective of achieving climate neutrality by 2050 and recognize the vital role of energy efficiency and renewable energy in meeting the goals of the Paris Agreement.
The European Commission is spearheading the EU-LAC Global Gateway Investment Agenda, which involves identifying fair green and digital investment opportunities in Latin America and the Caribbean. The initiative aims to leverage smart investments in sectors such as health, renewable energy, digital connectivity, critical raw materials, research, and innovation, contributing to sustainable growth and the fulfillment of the Sustainable Development Goals. Team Europe initiatives, comprising the EU, Member States, development financing institutions, including the European Investment Bank (EIB), and export credit agencies, will collaborate with the private sector to implement the GGIA.
The partnership between the EU and Uruguay signifies their shared commitment to renewable energy and the global transition towards clean and sustainable sources of energy. By fostering cooperation and aligning their efforts, they are paving the way for a greener and more sustainable future.
https://ec.europa.eu/commission/presscorner/detail/en/IP_23_3899