New Report: Energy Financing Power: America vs. China
A Case Study in Brazil
Friday, September 19, 2025 – ClearPath released a new, first-of-its-kind report, Energy Financing Power: America vs. China - A Case Study in Brazil. China has emerged as the world’s dominant energy financier, outpacing the U.S. nearly ten-to-one in global markets and establishing itself as a primary partner in key Western nations like Brazil. ClearPath’s report analyzes China’s predatory strategies and explores opportunities for U.S. policy and innovation. Brazil was chosen for the case study because it is the largest developing economy in the Western Hemisphere and a key energy partner for both the U.S. and China.
This report reveals:
- Globally, China’s public investment in energy projects is $446 billion since 2015, while the U.S. stands at just $45 billion;
- China outpaces the U.S. by more than 100x ($60 billion compared to $472 million) in public energy finance in Brazil, a strategic Latin American economy; Official Chinese entities own at least 12% of Brazil’s power system, as well as significant shares in mining and upstream oil and gas; and
- Predatory lending from the Chinese policy banks discourages market competition to the detriment of U.S. firms, while threatening to isolate Brazil from other strategic financial partnerships.
“America has some of the strongest and most competitive companies in the world, but they are running into too many limitations to reach new markets,” said ClearPath CEO Jeremy Harrell. “The U.S. should not try to outsubsidize China, but true American energy dominance requires global market leadership. We must get serious about competing with China by strengthening America’s capabilities for how we sell energy technology and expertise worldwide. This isn't just about economics, it's about geopolitical influence, national security and reducing global emissions through American innovation, rather than Chinese control.”
Read the executive summary and the full report here.
This report, authored by ClearPath’s Will Bryant, Justin Williams, Casey Kelly, and Jacob Kincer, underscores how smart policy can make the U.S. more competitive without attempting to outsubsidize China. Recommendations include:
Promoting strategic interagency coordination through an Energy Security Compacts (ESCs) framework:
- Create long-term agreements with clear, measurable outcomes targeting energy security and infrastructure;
- Promote coordination across federal authorities and multiply capabilities across the U.S. government; and
- Develop bilateral partnerships that focus on joint security priorities and center on American foreign policy goals.
Reauthorizing and enhancing the U.S. International Development Finance Corporation (DFC) with expanded investment authority:
- Establish a mechanism to properly score equity investments;
- Raise the DFC’s total lending cap from its current $60 billion;
- Expand the DFC’s list of eligible countries to provide more flexibility; and
- Replace DFC’s self-imposed $1 billion project cap with a higher limit.
Modernizing and reauthorizing the Export-Import Bank (EXIM) with flexible financing for strategic projects:
- Codify and enhance the Make More in America program and Supply Chain Resilience Initiative;
- Form a National Interest Account with additional flexibility to support U.S. energy exports;
- Exempt strategic projects like energy from EXIM’s default rate cap; and
- Expand the China & Transformational Exports Program to support an all-of-the-above energy strategy.
Media Contact:
Emily Johnson
emily@clearpath.org
(678) 761-1864
ABOUT CLEARPATH
ClearPath's mission is to accelerate American innovation to reduce global energy emissions. To advance that mission, we develop cutting-edge policy solutions on clean energy and clean manufacturing innovation. An entrepreneurial, strategic nonprofit, ClearPath (501(c)(3)) collaborates with public and private sector stakeholders on innovations in nuclear energy, carbon capture, hydropower, natural gas, geothermal, energy storage, and clean manufacturing to enable private-sector deployment of critical technologies. Learn more at clearpath.org. Follow us on Twitter: @ClearPathAction