09 Sep Latin America’s renewable energy capacity to skyrocket by 2025: Rystad Energy
Latin America is set to see its renewable energy capacity grow from 49GW to 123GW by 2025, with multiple auctions providing a strong pipeline in Brazil, Mexico, Chile, Colombia and Argentina.
Rystad Energy said the region is emerging as a ‘green powerhouse’ in its latest press release. The energy research group referenced a combination of falling prices and greater land availability, giving rise to a wave of mega projects across Latin America.
“The proliferation of mega scale projects, and the relatively consistent auctions with little to no local content requirements make Latin America a good market for large European developers,” said Rystad renewable energy analyst Minh Khoi Le.
Major European renewable energy developers have already penetrated the Latin American market, with the likes of Enel, Iberdrola, EDF and Engie among the top five companies with the largest capacity in the region.
These companies have dominated auctions in Latin America, especially in Brazil, Mexico and Chile. Brazil’s current renewable energy pipeline totals 50GW, while Mexico has 40MW of projects up for development.