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The focus on renewable energy is gaining unseen momentum in the Latin America region, spurred by tax reforms, economic recovery and partnerships with funds and development banks.
According to BNEF*, solar and wind – currently representing 4% in the electricity mix in Latin America- , will attain a 37% share in the electricity mix by 2040. Leading markets Chile, Brazil and Mexico are no longer alone, Argentina and Colombia are slated to be next in line, with Argentina`s regional market share in PV demand rising from 5% in 2017 to 14% in 2018**.
In Mexico PV power generation is expected to cover up to 43% of the country`s power capacity by 2040, creating a 40 GW market. Mexico is currently well on track to becoming the world`s 7th largest solar market in 2021. Within Latin America the country covers 46% of the PV demand in 2017 and has currently a contracted pipeline of 4256 MW and 658 MW under construction***.
At Lnoppen`s Latin America Solar Energy Development & Technology Summit, hosted on November 30th and December 1st 2017 in Mexico City, government authorities, institutes, utilities, developers, operators, technology providers, banks and EPC companies will be gathering to discuss the newest developments and innovations in place as well as the opportunities and future needs of technologies.
* BNEF Bloomberg New Energy Finance. | ** GTMResearch | *** GTMResearch