Brazil to Dominate Latin America’s Wind Power Market in 2018

Latin American wind has grown swiftly in recent years to almost 20 GW by August 2017, with 80 percent of installed capacity in Brazil and Mexico.

Senior analyst for Latin America at MAKE Consulting, Brian Gaylord told Renewable Energy World that MAKE expects Latin America to rebound next year, with 4 GW of new wind power capacity.

Paraguay to Issue Renewable Energy Law by the End of 2017

Although mired in significant delays compared to other Latin American countries, Paraguay is now preparing to issue its first legislation to support solar and wind power.

Paraguay will issue its first renewable energy law in the upcoming months, most likely before the end of 2017. This was stated by Lourdes Aquino Perinetto from local law firm GHP Guanes, Heisecke & Piera in an interview with pv magazine.

According to Perinetto, the new law has already been approved by the upper chamber and is now being reviewed by the Senate. The main reason for the country’s delay in developing solar and wind power, she explained, is the monopoly of the local utility ANDE in the energy market. The new law, however, will compel the ANDE to buy at least 5% of its power from renewable energy other than hydropower, which currently has the largest share in Paraguay’s energy mix.

Policies Driving Renewable Energy Growth in Latin America

Buoyed by rapid technology cost reductions and the consolidation of renewable energy policies, Latin America hosts some of the world’s most dynamic renewable energy markets, according to a new report by the International Renewable Energy Agency (IRENA). Renewable Energy Market Analysis: Latin America finds that the region – endowed with some of the world’s best renewable resources – has an unprecedented opportunity to accelerate the uptake of renewables across all sectors.

Argentina Charts Course For Renewable Energy

Argentina, Latin America’s third largest power market with approximately 32,000 megawatts (MW) of installed capacity, faces the task of installing 7,000 MW, or 22.5 percent of its 2015 total capacity, in five years.

With the majority of Argentina’s current generation needs being met by costly imported fossil fuels, the nation has the economic incentive to begin exploiting its abundant renewable energy resources. In 2015 this incentive translated into a new renewable energy law mandating that eight percent of generation derive from renewable sources by 2018 and 20 percent by 2026. Whether Argentina’s business leaders and policymakers will maximize the nation’s abundant renewable energy potential and new pro-business executive branch policies to create investor confidence, bankable power purchase agreements (PPAs) and significant renewable production remains to be seen.