Tag Archives: Latin America

Latin America’s Renewable Energy Market Analysis

Covering the surface area of China and the USA combined and home to around 600 million people, Latin America is rich in resources. While its minerals, metals, and fossil fuels have traditionally drawn investment, energy security concerns, technological advances and the growing threat of climate change have now brought the region’s enormous renewable energy potential to the forefront.

A new IRENA report, Renewable Energy Market Analysis: Latin America, highlights Latin America’s success with renewables, the region’s emerging trends and valuable insights for other countries. Continue reading Latin America’s Renewable Energy Market Analysis

IRENA Director-General Meets Vice-President of Uruguay

Uruguay is a global leader in renewables deployment, with more than 94% of the country’s electricity coming from renewables in 2015. The successful implementation of an enabling policy and regulatory framework helped drive this remarkable transition in just over a decade.

On 8 November 2016, HE Mr. Raul Sendic, Vice-President of Uruguay, visited IRENA’s headquarters to show his support for the Agency and engage with IRENA’s Director-General, Adnan Z. Amin. Continue reading IRENA Director-General Meets Vice-President of Uruguay

IRENA and the Inter-American Development Bank Award Support to Renewable Energy Project Development

IRENA and the Inter-American Development Bank’s (IDB) Sustainable Energy Marketplace for Latin America and the Caribbean, have announced a $300,000 technical assistance award to advance the development of six renewable energy projects across Latin America and the Caribbean.

The projects — based in Argentina, Colombia, El Salvador, Haiti, Honduras, and Mexico — cover a range of areas including solar, wind, and carbon management. “The Sustainable Energy Marketplace supports projects at different stages of development. Through the project development support and the work with IDB, this platform will create a bigger, more liquid market for renewable energy projects that will eventually improve access to sustainable and reliable energy in a financially sustainable manner,” said Henning Wuester, Director of IRENA’s Knowledge, Policy and Finance Centre. Continue reading IRENA and the Inter-American Development Bank Award Support to Renewable Energy Project Development

Mexico Can More Than Quadruple Share of Renewable Energy by 2030

A new IRENA report released today at an event in Merida, Mexico finds the country can increase the amount of renewable energy in its energy mix from 4.4% in 2010 to 21% by 2030.

Renewable Energy Prospects: Mexico also finds that Mexico could generate up to 46 per cent of its electricity by 2030 from renewable sources including wind, solar, hydropower, geothermal and biomass – a six fold increase from today’s levels.

“Mexico represents one-fifth of all energy use in the Latin America and Caribbean region and is key to ensuring a successful regional transition to renewable energy. With the recent energy sector reform, Mexico is now on the path of rapid renewables growth, which can help secure a safer, healthier and more sustainable future.” – Adnan Z. Amin, Director-General of IRENA

The share of renewable energy in Mexico’s energy mix will only reach 10% by 2030 under current policies. If Mexico succeeds in reaching a 21% share of renewable energy, it will save as much as USD 11.6 billion annually by 2030 when taking into account factors like reduced health costs and reduced pollution.

“This report shows that Mexico could install significantly higher amounts of renewables – and that it can do so affordably. The dramatic technology cost declines present a real opportunity for Mexico to scale up their renewable energy deployment and lead the region towards a clean energy future.” – Dolf Gielen, Director of IRENA’s Innovation and Technology Centre

The report is part of IRENA’s renewable energy roadmap, REmap 2030, which provides a plan to double the share of renewable energy in the world’s energy mix by 2030 and determines the potential for Mexico and other countries to scale up renewable energy in the energy system, including power, industry, buildings, and the transport sector. To date, three other country specific reports have been published including China, the United States and the United Arab Emirates.

Leaders Advance Plans to Unlock Renewable Energy Potential in Central America

An initiative to integrate more renewable energy into the Central America power system took one step forward this week as regional vice-ministers, directors of energy, and directors of climate change met in El Salvador to discuss Central America’s energy future.

With a population of 40 million and a more than 3% annual economic growth rate, Central America’s power needs are rapidly increasing. Regional demand grew 65% over the last 12 years and an estimated 7 GW of new electric generation capacity will be needed by 2020.

To meet increasing energy needs with clean, renewable energy, IRENA and the Central American Integration System (SICA) are developing the Central America Clean Energy Corridor initiative. The initiative aims to integrate more renewables into the existing Central American Electrical Interconnection System, which stretches from Guatemala to Panama. The recently finished 1,800 kilometre-long transmission line is currently underutilized, presenting a clear opportunity for the deployment of more renewable energy in the region.

“Central America possesses vast resources for hydropower, biomass, geothermal, wind and solar energy. These could be harnessed to help provide clean, cost-effective and sustainable solutions to meet regional energy needs and support in-country development. Accelerating renewables deployment will help the region achieve energy security, develop local economies and create jobs while contributing to efforts to address climate change.” – IRENA Director General Adnan Z. Amin

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This week’s workshop, the first jointly-organized event since IRENA and SICA signed a Memorandum of Understanding last May, brought together key regional and national stakeholders to discuss next steps. While the potential of the corridor is high, there are still barriers to overcome including the lack of regulation, technical tools and local experience operating a regional power system with medium to high shares of variable renewable energy.

The workshop resulted in feedback that will help move the initiative from concept to reality.

“The corridor concept is not new. Its first implementation is already underway in countries in the Eastern and Southern Africa power pools, promoting cross-border trade of renewable electricity. We believe that implementation of the Clean Energy Corridor in Central America can further diversify its energy mix, reduce its dependence on fossil fuels and shape a more sustainable future through harnessing its large renewables resource potential.” – Mr. Amin

*As a precursor to the El Salvador meeting, Latin America energy leaders met in Abu Dhabi in January to discuss the deployment of renewable energy in the region.