2023 Energy Landscape & Outlook

ENERGY OUTLOOK 2023

As global factories look to the West for expansion, Mexico is in the perfect geographic spot to become a major hub for manufacturing semiconductors, electric vehicles, solar panels, wind turbine and batteries. Chile and Argentina will likely increase their lithium mining activity and their participation in the battery supply chain production. Canada will also likely be a major supplier of critical materials. Chile, Brazil, Costa Rica and Colombia are likely to ramp up their production of green and blue hydrogen. Investments in R&D and production of green hydrogen will likely accelerate to provide long duration energy storage and clean fuels. With so many global manufacturers looking towards theWestern Hemisphere as an alternative location to expand and/or relocate production, Latin America must seize this moment in history and maximize its opportunity. Political stability and rule of law must be a top priority for countries interested in attracting investments and growing their economies. Preparing their workforce to meet the challenges and opportunities in the supply chains of high-tech products should have started already. I truly hope that governments and institutions in Latin America enter 2023 with a renewed interest and attitude to repower their economies through strong participation in the global energy transition

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