EU strengthens energy cooperation with Argentina to accelerate green transformation

In a significant step towards strengthening global energy cooperation, the European Union (EU) and Argentina have reaffirmed their commitment to promoting the green transition through a strengthened partnership. Over the past three years, both sides have focused on renewable energy sources, 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 transformational journey in recent years. “These last few years have truly defined the EU’s energy system,” she noted. “We presented the Green Deal almost five years ago, putting our economy on a decarbonisation path.”

The Green Deal has led to significant legislative changes, new financing instruments and a redefinition of electricity and gas market operations. The REPower EU plan came in response to Russia’s invasion of Ukraine in 2022, which disrupted energy markets and underlined Europe’s dependence on Russian gas. The EU’s determination to diversify energy suppliers and accelerate the transition to clean energy has led to a significant reduction in Russian gas imports and a significant increase in wind and solar capacity.

“The lesson we have learned is that a clean energy transition requires a network of partnerships,” von der Leyen stressed. “That is why the EU has reinvigorated its energy diplomacy, deepening energy relations with many partners around the world.” This global engagement supports partners in their economic, ecological and digital transformations, fostering mutually beneficial long-term relationships.

Argentina is a key partner in this global strategy. European companies account for about 40% of foreign direct investment 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 are not coming empty-handed,” von der Leyen announced. The Global Gateway Investment Agenda foresees the EU investing more than €45 billion in the region, including Argentina. This investment is expected to mobilise private capital and launch key projects, particularly in renewable hydrogen. EU funding will support feasibility studies and project analyses, laying the foundations for a solid hydrogen market in Argentina.

“We are also strengthening ties between our two business communities,” von der Leyen added, mentioning upcoming business-to-business events in Brussels aimed at implementing hydrogen projects in Argentina.

Argentina and the EU already cooperate 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 harmonize their efforts to address climate change.

“Argentina has huge potential to lead the way in green energy,” von der Leyen said. “The EU is ready to work closely with you on this path. Our goal is to produce 10 million tons of hydrogen and import another 10 by 2030, creating opportunities for jobs and growth while also raising the level of EU-Argentina energy relations.”

Related