EU Strengthens Energy Cooperation With Argentina To Advance Green Transition

In a significant step towards enhancing global energy cooperation, the European Union (EU) and Argentina have reaffirmed their commitment to advancing the green transition through a strengthened partnership. Over the past three years, both parties have focused on renewable energy, energy efficiency, interconnections, hydrogen, and critical raw materials.

Dr. Ursula von der Leyen, President of the European Commission, highlighted the EU’s ambitious energy reform agenda and its transformative journey over recent years. “These past few years have been truly defining for the EU’s energy system,” she remarked. “We presented the Green Deal nearly five years ago, setting our economy on a path to decarbonisation.”

The Green Deal has led to significant legislative changes, new funding instruments, and the redefinition of electricity and gas market operations. The REPower EU plan emerged in response to the 2022 Russian invasion of Ukraine, which disrupted energy markets and highlighted Europe’s reliance on Russian gas. The EU’s resolve to diversify energy suppliers and accelerate the clean energy transition has resulted in substantial reductions in Russian gas imports and significant growth in wind and solar capacities.

“The lesson we learned is that clean energy transition needs a network of partnerships,” von der Leyen emphasized. “That’s why the EU has revived its energy diplomacy, deepening energy relations with many partners around the world.” This global engagement supports partners in their economic, green, and digital transitions, fostering mutually beneficial long-term relationships.

Argentina is a key partner in this global strategy. European businesses account for about 40% of Foreign Direct Investments in Argentina, and the EU is a major trading partner. Two new Memoranda of Understanding (MoUs) were signed last year, focusing on renewable energy, energy efficiency, and hydrogen development.

“We don’t come empty-handed,” von der Leyen announced. The Global Gateway Investment Agenda will see the EU investing over EUR 45 billion in the region, including Argentina. This investment is expected to mobilize private capital and kickstart key projects, particularly in renewable hydrogen. EU funding will support feasibility studies and project analyses, laying the groundwork for a robust hydrogen market in Argentina.

“We’re also fostering closer ties between our two business communities,” von der Leyen added, citing upcoming business-to-business events in Brussels aimed at deploying hydrogen projects in Argentina.

Argentina and the EU already collaborate on multilateral platforms, including the Global Targets on Renewables and Energy Efficiency and the Global Methane Pledge. The upcoming G20 and COP30 meetings will further align their efforts on climate change solutions.

“Argentina has immense potential to lead in green energy,” von der Leyen stated. “The EU is ready to work closely with you on this path. We aim to produce 10 million tonnes of hydrogen and import another 10 by 2030, creating opportunities for jobs and growth while elevating EU-Argentina energy relations.”