Latin America’s Big Moves On New Energy

Latin America Set to Become Global Energy Giant Through Renewables

Sarah Jennings, March 17, 2023 (Environment + Energy Leader)

“Latin America is embarking on a new era of renewable energy, led by commitments to wind and solar utility-scale projects by Brazil, Chile, and Columbia…[A new Global Energy Monitor report forecasts] the current solar and wind power capacity could increase by 460% by 2030…[and be] 70% of the total electrical capacity growth in the region…With a high potential for solar exposure and offshore wind development, Latin America is a goldmine for renewable energy…

click to enlarge

[Regional governments have] encouraged economic commitments with solid policy responses to climate change. The three leaders in growth – Brazil, Chile, and Columbia – all have employed energy auctions, opened up private investment, and found tactics to decrease the cost of solar and wind installations…[Brazil surpassed its a ten-year plan] to implement 20 GW of wind power and 3.5 GW of utility-scale solar capacity by 2023… 21.5 GW of operational onshore wind power and 5.4 GW of operational utility-scale solar power…

click to enlarge

Colombia also appears set to exceed its goal of adding 4 GW of renewable energy to its grid by 2030…[Despite] Mexico’s COP27 pledge to bring 40GW of solar and wind power online by 2030, the current pipeline of new projects is nowhere near that…[Chile’s] current policies seem to sway towards a 100% renewable energy system by 2030…[with policies] that will increase solar in the Atacama region and offshore wind development in Patagonia…” click here for more

click to enlarge

Tweet