PRESS RELEASE : Minister fuels energy exports in trade mission to Chile [December 2023]

The press release issued by the Department for Business and Trade on 12 December 2023.

Exports Minister will lead renewable energy companies to meet Chilean government and business officials.

• British expertise and services can boost Chile’s ambitions to develop its renewable energy capability
• Chile is one of the UK’s most important trading partners in Latin America and a fellow member of CPTPP

Exports Minister Lord Offord has today [12/12/2023] landed in Santiago, Chile where he is leading a trade mission of British hydrogen and renewable energy companies to match them with business opportunities in the country.

The businesses will be introduced to key Chilean developers and prospective customers at a showcase event hosted in Santiago. The Minister will also be meeting with Chilean developers to better understand their needs and promote how British companies can meet these.

Lord Offord will meet with Chilean Minister for Energy Diego Pardow, and Minister for Economy Nicolás Grau, to discuss how Chile and the UK can work together to boost trade and support the transition to renewable energy sources.

Minister for Exports Malcolm Offord said:

With Chile’s ambition to boost its renewable energy infrastructure, and the UK’s expertise and capabilities in this field, there is a clear opportunity for both our countries to benefit and prosper.

Chile is one of our most important trading partners in Latin America and with our upcoming accession to CPTPP I want to see trade between us boosted even further.

The trade agreement with Chile was particularly important to the UK, being the first one signed in 2019. With the UK joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) of which Chile is a member, this trading relationship will continue to grow with businesses in both countries being able to choose the most beneficial agreement to trade under.

Total trade in goods and services between the UK and Chile in the last year grew by over 13%, reaching £1.9bn. The UK government aims to continue to grow this trading partnership, particularly by supporting Chile to harness its potential in renewables, including low carbon hydrogen, with the world leading expertise from UK companies.

CPTPP will cut tariffs for goods exporters and provide new opportunities and improved access for services industries, enhancing the bilateral relationship in key sectors such as energy and infrastructure services.

Chile is a key player in the global race to decarbonise, holding huge reserves of copper and lithium, as well as leading the region in renewable energy development. That’s why so many UK companies are eager to do business in the energy and infrastructure sectors.

Patricio Maguire, Director of Turner and Townsend Chile said:

Chile and UK share a long history of cooperation. Green hydrogen and carbon capture industries are another examples of new areas of integration. While Chile has a vast stock of clean energy resources and a mature industrial environment, UK is a leading actor in the decarbonisation industry and, in particular, offers top notch technologies in electrolysis for H2 production.

As the local branch of a global UK-based consultancy firm, we, at Turner & Townsend are proud to be part of the energy transition industry and look forward to continue to provide our expertise and global footprint at the service of their actors.

Tom Wills, Development Director at Voar Energy said:

We are delighted to be participating in this UK trade mission at such an important moment in Chile’s energy transition.

Chile is set to be a world leader in green hydrogen and at Voar we’re keen to develop relationships with others active in that area, with a particular focus on Power-to-X projects in remote locations and green bunkering / fuel systems for ships.

Agustin Lopez Munell, CEO of Desitec who are moving their HQ from Argentina to the UK said:

We are honoured to join the Renewable Energy Trade Mission to Chile. This mission perfectly aligns with our goals to expand our innovative sensor technology into new markets as we transition our headquarters from Argentina to UK, specifically London or Edinburgh. Our goal is to continue educating ourselves about hydrogen and to seek partners with whom we can collaborate on our developments.