China Controls 80% of the Market for Clean Technology Manufacturing
Energy attorney Inés Elvira Vesga was quoted in an article by El Colombiano about China's dominance in the market for clean technology manufacturing. China controls the business of manufacturing inputs used to build solar farms, wind parks and electrolyzers for renewable power generation in many countries. Ms. Vesga highlighted that this poses a challenge for the rest of the world in terms of dependence on China for manufacturing inputs, and emphasized the need for other countries, like Colombia, to develop their own industries in the field of clean technology to mitigate this dependence.
"It represents a challenge for humanity, because now more than ever it is clear that a sneeze in China shakes the world. Dependence on a single actor is a challenge for the energy security of others, as a supply crisis in the renewable energy chain means a paralysis in the development of projects, which implies a reflection on the importance of maintaining diversified energy matrices," she said.