Zelestra has signed an agreement to sell its Latin America platform to Promigas S.A. The platform comprises 1,400 MW of contracted solar and battery storage capacity, of which 1,000 MW includes projects that are either operational or under construction. Additionally, the company has a development pipeline of more than 2,100 MW of renewable capacity across 19 projects across Chile, Peru and Colombia.
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Brazil has taken a leading role in positioning the just energy transition within the framework of the G20 in 2024. Seeking to continue these trajectories and project its global leadership, the South American country formulated three priorities in the G20 agenda linked to energy transition. The objective of this report is to characterise Brazil’s leadership capacity in the G20 by positioning the energy transition narrative as a way to observe changes and continuities within the processes at the BRICS Forum and COP30 in 2025.
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Scatec has entered into a 15-year power purchase agreement (PPA) with BTG Pactual Comercializadora de Energía, a Colombian energy trading subsidiary of Banco BTG Pactual S.A. Brazil. The agreement will secure about 85 per cent of the output from a 130 MW solar project, while the rest of it will be traded in Colombia’s electricity market. The project will be Scatec’s first in Colombia. The total capital expenditure is estimated at $110 million.
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CAF, which is the development bank of Latin America and the Caribbean, has approved a $100 million loan to aid the energy sector reform in the Bahamas. The approved resources will help the government of Bahamas in the implementation of key elements of its National Energy Policy. This includes strengthening the regulatory framework, modernising infrastructure, promoting renewable energy, and improving energy efficiency.
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Sungrow has inked an agreement with Zelestra to provide battery storage technology for a battery energy storage system (BESS) project being delivered in Latin America. Under the agreement, Sungrow will provide its PowerTitan 2.0 liquid-cooled BESS and its MV power conversion units for the BESS project with a storage capacity of 1 GWh. The project forms part of the hybrid Aurora scheme in Tarapacá, Chile, which is currently under construction.
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Over the next decade, we expect Latin America’s power mix to remain dominated by hydropower despite non-hydropower renewables’ rapid growth in the region. Amid the volatility of hydropower and frequent power grid issues in the region, we expect an increase in net electricity imports across importing markets in Latin America. We expect regional electricity trade regulations and investments to improve in Latin America, supporting power supply stability.
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Latin America is at a critical juncture in its renewable energy journey, with vast potential to harness its abundant wind resources to drive economic growth, reduce carbon emissions, and achieve Sustainable Development Goals (SDGs). This policy paper “Ensuring The Social License For Wind Projects In Latin America” by GWEC is designed to guide policymakers and stakeholders across the region, offering insights and strategies rooted in local experiences and best practices to overcome the barriers currently hindering the expansion of wind energy.
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Based on announced projects, Latin America and the Caribbean (LAC) could produce over 7 Mtpa of low-emissions hydrogen by 2030, but only about 0.1% of these projects is in operation, under construction or has reached a final investment decision. Deployment is still nascent. The high cost of capital in the region remains a barrier, and could undermine the competitive production costs from its strong renewable resources. In addition, a massive expansion of renewable capacity would be needed – if all hydrogen projects in the pipeline come to fruition, wind and solar PV generation would need to increase by 140% within this decade for hydrogen production alone. Action is required in the short term to unlock LAC’s potential, balancing domestic demand with export ambitions.
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Latin America, with its vast potential in renewable resources (solar, wind and hydro power) can unlock clean hydrogen production at competitive cost, positioning it to become a major clean hydrogen exporting region and hence a central player in the global clean hydrogen economy. This report has presented three distinct clean hydrogen pathways that countries in the region are likely to follow, each with its own specific objectives, challenges and enabling measures.
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The LAC region lacks a strong regulatory framework for the proper management of used and end-of-life lithium-ion batteries, which creates challenges for developing sound end-of-life management solutions. While such policy gaps must be closed in the near future, there is also a need to develop a regional approach aimed at improving capacities, facilitating transboundary movement of batteries and promoting investments for more efficient used lithium-ion battery collection, recycling, and reuse.
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Latin America is highly vulnerable to various natural hazards, affecting the region’s living conditions, resulting in the current people displacement and massive economic losses. Driven by the increasing needs for climate change mitigation and adaptation measures and investments, the region has been actively advocating for climate change investments.
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The Latin America Energy Outlook, the International Energy Agency’s first in-depth and comprehensive assessment of Latin America and the Caribbean, builds on decades of collaboration with partners. In support of the region’s energy goals, the report explores the opportunities and challenges that lie ahead. It provides insights on the ways in which the outlook for the region and the biggest global energy trends are deeply intertwined.
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Wind power is expected to be a main driver of non-hydro renewables growth in the Latin American region over the next decade. The segment is forecast to add 34.7GW of capacity by 2031, growing at an average annual rate of 7.1% over the 10-year forecast period. However, the added capacity is expected to be nearly entirely from onshore projects as we expect only 850MW of offshore capacity to come online during the forecast period.
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Blue Elephant Energy (BEE), a German platform for renewable energy, the French private equity firm Antin Infrastructure Partners. BEE, which was founded in 2016, focuses on the acquisition, development, and operation of solar and wind farms throughout Europe and Latin America. Currently, the company has 1.3 GW of renewable energy capacity, which includes 13 wind projects and 67 solar assets spread across eight different countries.
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The report presents key findings and recommendations that are broadly relevant to Latin America and the Caribbean, as well as to stakeholders attempting to improve their planning processes across the world. Good practices are categorised under three main pillars: strengthening scenario development; improving scenario use; and identifying capacity-building approaches.
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EV adoption is underway in some Latin American markets for the passenger vehicle segment. The 2020 EV sales shares for passenger vehicles are scaling up in Costa Rica and Colombia at 0.6% each, and in Chile at 0.5%. Mexico and Brazil have higher EV sales but lower market shares due to their bigger market sizes. Similar to developing countries in other regions, electric passenger car uptake is still at a very early stage in the Latin America.
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A consortium comprising Macquarie Asset Management, British Columbia Investment Management Corporation (BCI) and MEAG has agreed to acquire Reden Solar. Reden Solar is being purchased from InfraVia Capital Partners and Eurazeo for €2.5 billion. With a 762 MW active portfolio and a 15 GW development pipeline, Reden Solar develops, finances, builds, and runs solar power projects in Europe and Latin America.
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Apan Energy Services, a clean energy impact investor, has partnered with PASH Global Management (PASH), a London-based energy transition investor. With this partnership, the two companies have committed to invest £1 billion in clean energy across the Caribbean and Latin America over the next five years.
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Yinson Holdings Berhad, through its wholly owned subsidiary Yinson Renewables Pte Ltd, is collaborating with Verano Capital Holdings SpA for developing renewable energy projects in Latin America. The initial pipeline will consist of 800 MW of utility scale solar projects spread across Chile, Colombia, and Peru.
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Highview Enlasa has announced its plans to develop a long duration liquid air energy storage project in Chile. This 50 MW/500 MWh (10 hours) CRYOBattery™ will be located in Diego de Almagro in the Atacama Region. It will require an estimated investment of USD $150 million.
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