Sec. 115. Strategy for advanced and reliable energy infrastructure
338 words·~2 min read·
/bill/117/s/1169/rs/section-115·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The President shall direct a comprehensive, multi-year, whole of government effort, in consultation with the private sector, to counter predatory lending and financing by the Government of China, including support to companies incorporated in the PRC that engage in such activities, in the energy sectors of developing countries. It is the policy of the United States to— regularly evaluate current and forecasted energy needs and capacities of developing countries and analyze the presence and involvement of PRC state-owned industries and other companies incorporated in the PRC, Chinese nationals providing labor, and financing of energy projects, including direct financing by the Government of China, PRC financial institutions, or direct state support to state-owned enterprises and other companies incorporated in the PRC; pursue strategic support and investment opportunities, and diplomatic engagement on power sector reforms, to expand the development and deployment of advanced energy technologies in developing countries; offer financing, loan guarantees, grants, and other financial products on terms that advance domestic economic and local employment opportunities, utilize advanced energy technologies, encourage private sector growth, and when appropriate United States equity and sovereign lending products as alternative to the predatory lending tools offered by Chinese international finance institutions; pursue partnerships with likeminded international financing and multilateral institutions to leverage investment in advanced energy technologies in developing countries; and pursue bilateral partnerships focused on the cooperative development of advanced energy technologies with countries of strategic significance, particularly in the Indo-Pacific region, to address the effects of energy engagement by the PRC through predatory lending or other actions that negatively impact other countries.
Not later than 180 days after the date of the enactment of this Act, and annually thereafter for 5 years, the Secretary of State, in consultation with the Secretary of Energy, shall establish a United States Government strategy to increase United States exports of advanced energy technologies to— improve energy security in allied and developing countries; create open, efficient, rule-based, and transparent energy markets; improve free, fair, and reciprocal energy trading relationships; and expand access to affordable, reliable energy.