The European Union (EU) has signed a memorandum of understanding (MOU) with the Latin American Energy Organisation (OLADE) to enhance collaboration on energy matters.
The agreement aims to unify efforts between the two regions, representing more than one billion people, or 14% of the global population, as well as establishes the EU as a permanent observer within OLADE.
The MOU encompasses a broad spectrum of energy-related initiatives. These include promoting active European participation in OLADE events, exchanging expertise in designing joint programmes, and providing advisory support for the execution of collaborative energy projects.
The partnership is set to focus on implementing the goals set forth during the UN Climate Change Conference COP28, which include tripling renewable energy and doubling energy efficiency by 2030, in addition to reducing reliance on fossil fuels.
In line with these objectives, both the EU and OLADE will collaborate with international bodies such as the International Renewable Energy Agency (IRENA), the International Energy Agency (IEA), the United Nations Development Programme (UNDP), and the Economic Commission for Latin America and the Caribbean (ECLAC).
This international cooperation is intended to combat climate change and promote a net-zero transition in both regions.
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By GlobalDataEnergy and Housing Commissioner Dan Jørgensen said: “The EU and Latin America and the Caribbean are building on an already strong partnership to enhance our political dialogue and trade while promoting green and digital transitions.
“This important memorandum we are signing today will help integrate regional energy efforts and strengthen collaboration between Europe and Latin America and the Caribbean – also crucially at the expert level. As both regions aim to progress in the clean energy transition, this agreement will significantly boost our global cooperation.
“It supports our shared goals to triple renewable energy and double energy efficiency by 2030 while transitioning away from fossil fuels, ensuring sustainable energy security and quality, and tackling energy poverty so that no one is left behind.”
A significant aspect of the MOU is the commitment to reduce methane emissions, a potent greenhouse gas, across various sectors, including agriculture, fossil fuels, and transport within Latin America.
This will involve working alongside the Latin American and Caribbean Methane Emission Observatory (OEMLAC) and the International Methane Emissions Observatory (IMEO) to mitigate methane’s impact on the environment.
This development follows the EU-CELAC summit held in Brussels in July 2023, which reinvigorated the partnership between the EU and countries in Latin America and the Caribbean.
The summit witnessed the signing of two EU MOUs on energy with Argentina and Uruguay, as well as the establishment of a detailed investment agenda under the EU’s Global Gateway initiative.
The next summit is scheduled for 9-10 November 2025 in Santa Marta, Colombia.
In March 2025, the European Commission (EC) launched three new partnerships to bolster Europe’s position in tech and sustainability.
