U.S., Chile sign agreement to develop energy transition partnership
- August 18, 2023
- Posted by: Quatro Strategies
- Categories: Americas, ESG & Renewable Energy, United States
Chile and the United States have entered into an initial agreement aimed at fostering technical assistance and information sharing to facilitate the energy transition. The agreement was signed by Chile’s Energy Minister Diego Pardow and US Energy Secretary Jennifer Granholm.
The agreement is expected to facilitate collaboration in various areas related to the energy transition, including technological exchange and the development of green hydrogen. This partnership comes as Chile aims to become a global leader in exporting green hydrogen by 2040 and strives to achieve carbon neutrality by 2050.
The agreement covers a range of topics, including research and development, decarbonization, grid modernization, hydrogen production, critical minerals, energy justice, and the Net Zero World initiative. It sets the stage for annual meetings between senior officials from both countries to monitor progress, address challenges, and identify new opportunities in these areas.
Chile’s commitment to green hydrogen aligns with its broader sustainability goals and its position as a global player in the transition to renewable and clean energy sources. This collaboration with the US could bring technological advancements and expertise to accelerate Chile’s efforts in achieving its energy and environmental objectives.
Interested in learning more?
Sign up for Top Insights Today
Top Insights Today delivers the latest insights straight to your inbox.
You'll get daily industry insights on
Energy, Cleantech, Oil & Gas, Mining, Defense, Aviation, Construction, Transportation, Online Retail, Bigtech, Finance and Politics of Business
Read more insights
Chinese solar strategy proves resilient as new export routes emerge
The latest shift in U.S. solar panel imports reveals how Chinese companies are adapting to Washington’s escalating trade barriers — and how limited those barriers may be in practice. After the U.S. finalized steep tariffs in April on solar products from Vietnam, Malaysia, Thailand, and Cambodia, Chinese-owned firms rapidly pivoted production to less targeted Southeast Asian countries like Indonesia and Laos.
As a result, Indonesia and Laos now account for 29% of U.S. solar panel imports, up from less than 1% in 2023. This surge highlights how nimble Chinese manufacturers remain despite increasingly aggressive U.S. trade actions. The initial rounds of tariffs in mid and late 2024 were aimed at curbing solar module and cell dumping into the U.S. by Chinese-controlled factories relocated across Southeast Asia. But the shift in trade routes shows that as one path closes, another opens.
China’s top solar firms post steep losses as U.S. tariffs bite
China’s major solar panel manufacturers are facing mounting financial pressure, reporting steep first-quarter losses as the U.S. trade war led by President Donald Trump intensifies and global demand remains weak.
Top firms including Longi Green Energy and JinkoSolar each posted net losses of 1.4 billion yuan ($193 million) for the quarter, while JA Solar and Trina Solar reported losses of 1.6 billion yuan and 1.3 billion yuan, respectively. Longi also confirmed a full-year loss of 8.6 billion yuan for 2024. The firms attributed the downturn to depressed global solar supply chain prices and the impact of new protectionist trade measures, especially from the United States.
US extends lead over China as the world’s largest economy
The United States has extended its lead over China in the race for the world’s largest economy, marking a striking turn of fortunes. In 2023, US gross domestic product (GDP) grew by 6.3% in nominal terms, surpassing China’s 4.6% gain. This outcome defied expectations at the beginning…
