Latin America continues to be an attractive market for renewable energy developers despite big changes in the energy sector at a global level in recent months. Renewable technologies are seen as a technical and economically viable solution, especially in countries with few fossil resources such as Chile and several countries in Central America and the Caribbean. Below is a summary of the most significant recent developments and in particular a look ahead to 2015 for five countries in the region that are especially important due to their size and specific circumstances.
Brasil. The largest economy in Latin America continues to be a breeding ground for renewable energies with public tenders announced for wind energy, biomass and hydroelectric power for the first half of 2015. ANEEL, the Energy Regulation Agency and the entity responsible for implementing tenders at federal level, expects that over the next 10 years, at least 10 GW of wind power, 20.4 GW of hydroelectric power (at large- and small-scale) and almost 2 GW of biomass energy will be commissioned as a result of tenders already adjudicated.
Solar energy in 2014 created a high level of expectation from tenders at federal level in which PV and CSP projects were eligible to submit offers. However, these technologies have still not taken off in this country, as no projects using this type of technology have been awarded via this tenders mechanism. There is however huge potential for solar power in this country (especially in the north-east) and tenders at state level are starting to be implemented to promote these technologies.
Article published in: FuturENERGY January-February 2015