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Like everyone else, I’m sure, most of the open tabs on my browser are about DeepSeek as I try to get up to speed on what happened in the AI battle this week. At the same time, there hasn’t been a whole lot of news about China in the Middle East, which I attribute to everyone waiting to see how the Trump administration decides to prioritize his foreign policy agenda. Despite the tough campaign rhetoric on China and warnings for Iran after winning, it’s mostly been quiet as his attention seems to be on dismantling the US federal government for now. There have been a few interesting stories over the past couple of days, however.
China to invest in Iran’s renewable energy sector - Tehran Times. First, I have to emphasize the italics I added below - this is a preliminary deal. We see a lot of preliminary deals and MoUs that rarely come to fruition, and in Iran we see them with a lot more frequency. Chinese companies have been reluctant to wade into the Iranian market for much beyond discount oil, and with the expectation that the Trump administration can make life difficult for companies doing business in Iran, I’d expect to see this fizzling. However, Iran has been facing massive energy shortages and I’d absolutely expect to see growth in their renewable energy sector. China, of course, is doing a lot in this space with Iran’s neighbours - see these stories from recently - and China’s August 2024 white paper, China’s Energy Transition, highlights the importance of exporting Chinese renewable tech and expertise. So while I think the team at the Tehran Times are overly optimistic on this deal, I’d be watching for future cooperation in renewables.
Tehran and Beijing have reached an initial agreement on Chinese investment in Iran’s renewable energy sector, with a Chinese company set to cover 70 percent of the investment.
The preliminary deal was made during a trilateral meeting involving Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Energy Committee, the Atomic Energy Organization of Iran (AEOI), and a Chinese economic delegation.
According to the ICCIMA portal, the meeting was attended by Arash Najafi, head of the Iran Chamber’s Energy Committee; Nematollah Torki, deputy for management development and resources at the AEOI; and a representative from China’s Hainan Elite Energy company.
During the discussions, both sides agreed to draft the investment agreement while the Chinese delegation remains in Iran, with plans to finalize and sign the document soon.
Liao Ghohui, representing Hainan Elite Energy, emphasized Iran’s commitment to expanding its renewable energy capacity and noted that his company, a semi-state-owned entity established in 2017, has developed a solid understanding of the Iranian market. He highlighted that Iran’s policies in the renewable energy sector provide a favorable environment for investment…
Under the preliminary agreement, 70 percent of the investment will be provided by the Chinese company, while the remaining 30 percent will be covered by an Iranian firm. After returning to China, the delegation also plans to introduce private sector partners for further cooperation with Iran.