China Courts Norway on Green-Energy Cooperation

China has revealed that it is willing to cooperate with Norway, one of the countries leading the world’s transition to green energy, in various green-energy-related endeavors. During Norwegian Prime Minister Jonas Gahr Stoere’s recent trip to Beijing, Chinese President Xi Jinping said China was ready to partner with the Scandinavian nation and promote “friendly cooperation” in matters related to clean energy.

China’s head of state highlighted the ongoing transition to renewables, environmental protection, electric vehicles, and fishery and agricultural products as potential areas of cooperation between China and Norway. A report from CCTV also said he hoped Russian and Ukrainian leaders would work together to achieve a political resolution via dialogue. The Russia-Ukraine war has been ongoing since early 2022 and has had a major effect on the global energy industry.

Xi noted that the world is currently experiencing an acceleration of unprecedented changes that are testing the international community’s capacity to make the right choices and said China would keep pursuing peaceful development. Stoere stated that he and China’s head of state discussed policies for sustainable development and climate as well as both human and business rights during their meeting.

A statement released by the Norwegian prime minister said that China’s efforts in the nascent renewable space are “of great importance” to the global transition from fossil fuels to cleaner alternatives, including solar and wind. China has significantly expanded its capacity to manufacture green technology over the past couple of decades and now manufactures more than 90% of the world’s solar panels.

Furthermore, the east Asian country’s plan to transition its African collaboration from large-scale infrastructure projects to green energy could also help ensure an equitable transition to clean energy. Africa and other regions in the developing world typically have little access to renewable-energy investment and could potentially be left behind as the world moves away from fossil fuels.

Norway, on the other hand, has devoted considerable effort into electrifying its energy mix and now uses renewables to power the majority of its energy needs. Its electricity system is almost completely reliant on clean energy and has relied on renewables to generate 98% of its electricity since 2020.

Norway also exports a significant amount of its locally generated clean energy to neighboring countries and is one of the largest energy exporters in Europe. Its collaboration with China would likely help both countries advance their respective green-energy goals and could even have a positive effect on the global green-energy transition.

As efforts ramp up to add more clean energy to the energy mix of different countries, innovations such as electric vehicles from companies such as Mullen Automotive Inc. (NASDAQ: MULN) could yield their full impact of curbing climate change if the energy used to charge them is green.

NOTE TO INVESTORS: The latest news and updates relating to Mullen Automotive Inc. (NASDAQ: MULN) are available in the company’s newsroom at https://ibn.fm/MULN

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