{"id":14301,"date":"2020-03-26T08:05:31","date_gmt":"2020-03-26T07:05:31","guid":{"rendered":"https:\/\/frv.com\/?p=14301"},"modified":"2021-02-04T18:33:16","modified_gmt":"2021-02-04T17:33:16","slug":"desarrollando-potencial-la-energia-renovable-en-america-latina","status":"publish","type":"post","link":"https:\/\/frv.com\/en\/desarrollando-potencial-la-energia-renovable-en-america-latina\/","title":{"rendered":"Powering potential: renewable energy in Latin America"},"content":{"rendered":"

Latin America grabbed headlines at the\u00a0United Nations Climate Action Summit<\/a>\u00a0in New York in November 2019, when it pledged a collective target of 70% renewable energy use by 2030 \u2013 more than double the EU\u2019s target of 32%[1]<\/a>.<\/p>\n

According to a report from ABN Amro[2]<\/a>, in 2018 renewables accounted for around 25% of the energy supply.\u00a0 So, achieving this target will require substantial investment in a diverse range of renewable energy technologies.<\/p>\n

There should be no shortage of potential investors.\u00a0 Latin American countries represent four of the top 20 most attractive renewable energy markets in the world[3]<\/a>, with a great number of opportunities in both greenfield projects and the secondary market according to EY\u2019s \u2018RECAI<\/a>\u2019 index.<\/p>\n

\"Powering<\/p>\n

Between 2012 and 2015, renewables investments in Latin America totaled around US$ 54 billion[1]<\/a>, mostly in Brazil, Chile and Mexico.\u00a0 In 2017, alone, investment in renewable energy across the region jumped 65% to US$ 17.2 billion, compared to a global average of just 3% growth[2]<\/a>. \u00a0The rise was driven by record investment in Mexico and a nine-fold increase in Argentina, particularly in wind and solar sectors. \u00a0Other major investment destinations in the region included Brazil, Peru, Chile and Costa Rica.<\/p>\n

Coping with climate change<\/h3>\n

Maintaining the exponential level of growth in renewable energy in Latin America not only makes compelling economic and commercial sense, it is also an environmental necessity.<\/p>\n

Latin America has made a relatively small contribution to climate change in historical terms \u2013 its carbon emissions made up only around 7% of the global total in 2015[3]<\/a>\u00a0\u2013 yet it is likely to suffer disproportionately from the negative impacts.<\/p>\n

Temperatures in parts of Latin America and the Caribbean are expected to rise between 2\u00b0C and 3\u00b0C by 2050, and between 2.5\u00b0C and 4.5\u00b0C by 2100[4]<\/a>. \u00a0The resulting deterioration of ecosystems, extreme weather events and loss of biodiversity will have major implications for economies and social well-being.<\/p>\n

Indeed, the region\u2019s geography, climate, topography and demographics, together with the climate-sensitivity of natural assets mean that climate change is already a daily reality for many.<\/p>\n

Its long coastlines and many low-lying islands make it uniquely vulnerable to rising sea levels.\u00a0 For example, while the inexorable rise of global temperatures has begun to accelerate the melt rate of vast glaciers in Chile and Argentina, this has increased the danger of catastrophic floods.<\/p>\n

Latin America is home to vital environmental assets such as the Amazon rainforest, Brazil\u2019s Pantanal and Colombia\u2019s P\u00e1ramos \u2013 globally significant natural wonderlands of immense biodiversity.\u00a0 Minor changes to the delicate ecological balance of these areas have the potential to cause exponentially larger knock-on effects around the world.<\/p>\n

South and Central America are already accustomed to extreme weather phenomena.\u00a0 Dorian, the hurricane that devastated the Bahamas in September 2019, had sustained winds of 185mph, while the most recent El Ni\u00f1o event, which ended in 2016, caused severe droughts throughout the region.<\/p>\n

The socio-economic situation in many Latin American and Caribbean countries also makes them disproportionately vulnerable to the effects of climate change.\u00a0 According to a report from the UN\u2019s Economic Commission for Latin America and the Caribbean, 30.1% of the region\u2019s population lived below the poverty line in 2018, while 10.7% lived in what the Commission describes as \u201cextreme poverty\u201d[5]<\/a>.\u00a0 This means that approximately 185 million people were below the poverty threshold in 2018, with 66 million of these people experiencing extreme poverty.<\/p>\n

Chile leading the charge<\/h3>\n

Chile is at the forefront of the renewables revolution in Latin America and can already point to a number of successful initiatives to increase the proportion of renewable sources in the country\u2019s energy mix.<\/p>\n

\"Powering<\/p>\n

Having relied on imported coal, gas and petroleum for much of its domestic and industrial power needs since industrialization, in more recent decades this mountainous country has become a major producer of hydropower.<\/p>\n

Environmental concerns, however, means that public opinion over the past decade \u2013 and to a certain extent government policy \u2013 have switched the renewables focus towards solar and wind energy, resources the country has in even greater abundance.\u00a0 The intensity of the sun in the Atacama Desert in the north of Chile, for example, is unequalled anywhere in the world.\u00a0 While the long coastline of Chile provides rich wind resources all year round.<\/p>\n

Chile was producing 865 gigawatt hours of renewable electricity per month in mid-2016. \u00a0By March 2019, this had leapt to 1,188 gigawatt hours[1]<\/a>.\u00a0 By the end of September 2019, almost 22% of the nation\u2019s total energy capacity derived from renewable energy sources[2]<\/a>.<\/p>\n

Fotowatio Renewable Ventures (FRV), part of\u00a0Abdul Latif Jameel Energy<\/a>, has established itself as key player in the Chilean renewables sector.<\/p>\n

\"Powering
Manuel Pavon, Managing Director, FRV South America<\/figcaption><\/figure>\n

Manuel Pavon, FRV Managing Director for South America, says the Chilean government is strongly committed to further growth in the country\u2019s renewable energy capacity.<\/p>\n

\u201cThe government set a goal to have 20% of renewables by 2025. That goal was accomplished early, during 2018, and the government is thinking of increasing the goal to 25% or 30%.\u00a0 It wants to decommission all the coal-based power plants in the country \u2013 that\u2019s five gigawatts of thermal generation \u2013 by 2040.\u00a0 These decommissioned power stations will be replaced by a mix of renewables and other technologies.\u201d<\/em><\/p><\/blockquote>\n

One of these new developments is a\u00a0hybrid solar-wind<\/a>\u00a0project currently being developed by FRV to power almost 250,000 homes with clean energy, all year round, split between two sites \u2013 a solar power plant in the north of the country and a wind plant in the south.<\/p>\n

\u201cThis hybrid combination of solar and wind allows us to provide renewable energy 24\/7,\u201d<\/em>says Pavon.\u00a0\u00a0\u201cDuring the day we provide solar power, and during the night we will provide wind power.\u00a0<\/em>There is due to be a tender in May 2020, in which the Chilean National Commission will procure six terawatts of energy. \u00a0The \u2018big four\u2019 incumbents are losing market share every year, but the market itself is growing.\u00a0 We expect it will continue increasing up to 1.5 gigawatts per year for the following five years.\u00a0 So, it is a very interesting market for us.\u201d<\/em><\/p><\/blockquote>\n

\"Powering
Atacama Desert, Chile \u00a9 Photo Credit Alex Wolo\u00a0<\/figcaption><\/figure>\n

In fact, such is the potential of Chile, that FRV recently relocated its regional headquarters to the country from Brazil.<\/p>\n

\u201cThe government is very pro-renewables and there are some excellent opportunities here. \u00a0We wanted to be as close as possible to this market so we can take advantage of those opportunities when they arise,\u201d<\/em>\u00a0says Pavon.<\/p><\/blockquote>\n

\"Powering<\/p>\n

It is not only the government who recognize the need for more renewable energy. \u00a0Pavon says that there is a strong connection between climate change and the need for renewable energy in the minds of the Chilean public, too.<\/p>\n

Chile is more than 4,000 km long, with a variety of climates, but rainfall is generally low and the country is in the midst of a 13-year drought. \u00a0Combined with the poor perception of hydropower, it is not surprising, says Pavon, that Chile\u2019s early adoption of renewables, and the accompanying renewable-friendly regulatory framework, means that, alongside Brazil, it has the potential to become one of the continent\u2019s renewables success stories.<\/p>\n

\u201cWithin the Latin American region, most countries are at a similar stage, and FRV is exploring projects in Uruguay, Brazil, Peru and Colombia.\u00a0 But Chile has gone one step further, in terms of things like the regulatory frameworks, for example.\u00a0 It can sometimes take a long time to get projects started, but it is very stable and secure. \u00a0That\u2019s why also most banks in Latin America are based in Chile,\u201d<\/em>\u00a0he says.<\/p><\/blockquote>\n

\n

Action across the Andes<\/h3>\n

Across the Andes from Chile, the renewable energy markets in Brazil and Uruguay are also benefitting from FRV’s growing presence in Latin America.<\/p>\n

One of its first projects in the region was the\u00a0La Jacinta<\/a>\u00a0solar power plant in Salto, in the north of Uruguay, developed by FRV. \u00a0This was the first solar Power Purchase Agreement (PPA) that FRV signed with the Uruguayan state-owned electric company Administraci\u00f3n Nacional de Usinas y Transmisiones El\u00e9ctricas (UTE<\/a>) and was the first to become operational, in 2015. \u00a0It remains one of the largest solar plants in Latin America.<\/p>\n

\"Powering<\/p>\n

With 65 MWdc of installed power, the solar plant provides the 100% of its energy to UTE and meets the electrical needs of approximately 34,000 homes, while eliminating approximately 72,000 tons of CO2\u00a0emissions per year.<\/p>\n

FRV sold La Jacinta to Invenergy in 2017, but Pavon says the company is currently pursuing a number of other ventures in the country:<\/p>\n

\u201c<\/em>We have an interesting pipeline in Uruguay. \u00a0We are continually speaking with UTE, which is responsible for generation, distribution and transmission, and we are aware of several potential opportunities coming up in the near future.\u00a0<\/em>Brazil is one of the biggest economies in the region, and we are waiting to see how the sector performs.\u00a0 We may have to wait a few years before we invest capital, but for the moment, we will be keeping a close eye on forthcoming opportunities.\u201d<\/em><\/p><\/blockquote>\n

Making things happen in Mexico<\/h3>\n

As well as its operations in Chile, Uruguay and Brazil, FRV is rapidly establishing itself at the opposite end of the continent, in Mexico, where it has two major solar photovoltaic developments.<\/p>\n

https:\/\/www.youtube.com\/watch?v=cWePjsYRHVg&t=10s<\/p>\n

Its Potosi solar plant, in San Luis de Potosi, began producing energy operations last year. \u00a0The plant generates 815,000 MWh annually, providing enough energy to supply more than 76,000 homes and reduce Mexico\u2019s CO2\u00a0emissions by almost 98 million tons per year.<\/p>\n

\"Powering<\/p>\n

FRV\u2019s second plant, the Potrero PV plant in Jalisco, will generate 750,000 MWh per year, supplying 128,000 homes and reducing CO2\u00a0emissions by some 437,000 tons. \u00a0The Potrero plant is on course to be completed in July 2020 after around just 15 months of construction work.<\/p>\n

\"Powering
Fernando Salinas Loring,<\/p>\n

Managing Director FRV Mexico and Central America<\/figcaption><\/figure>\n

Both FRV projects in Mexico are on track and performing well.\u00a0\u00a0\u201cWith these two projects, we\u2019ve installed a total of 640 MW of capacity in a Mexican market currently holding around 73,000 MW.\u00a0 So, we have grown to become a relevant player in a very short period of time,\u201d<\/em>says\u00a0Fernando Salinas Loring<\/a>, Managing Director of FRV Mexico and Central America.<\/p>\n

The first wind-power plants began operating in Mexico in 2013. \u00a0The country now generates around 12.4 gigawatts from wind, compared to 2.2 gigawatts from solar.\u00a0 But, according to Loring, \u201csolar is now beginning to catch up\u201d<\/em><\/p>\n

\"Powering
\nOne of the reasons for this success, he says, is a change in government attitude towards the renewables sector.<\/p>\n

\u201cThe government has reaffirmed the renewable energy target of 35% by 2024, which is critically important,\u201d he says, \u201cCurrently, 24% of Mexico\u2019s energy is provided by clean energy.\u00a0 So, we need to get to 35% in the next five years. It\u2019s not going to be easy, but it can be done.\u201d<\/em><\/p><\/blockquote>\n

His optimism is shared by Manuel Pavon in Chile, fueled by pro-renewables government policies and changing public expectations.<\/p>\n

\u201cThe sentiment we\u2019re seeing across the whole Latin American region is concern about climate change.\u00a0 It is much greater than it was even four or five years ago.\u00a0 People are also thinking about the wellbeing of our communities and cities, and governments realize that something has to change in terms of energy policies.\u00a0 Renewable energy is a huge factor within all these considerations.\u00a0 At FRV, we are looking forward to capitalizing on these opportunities and helping to deliver a cleaner energy mix for Latin America\u2019s future,\u201d<\/em>\u00a0says Pavon.<\/p><\/blockquote>\n

Source: alj.com\u00a0<\/a><\/em><\/p>\n

[1]<\/a>\u00a0\u201cLatin America pledges 70% renewable energy, surpassing EU<\/a>\u201d, Reuters, September 25, 2019<\/p>\n

[2]<\/a>\u00a0Energy Monitor: Renewable energy in Latin America<\/a>, ABN Amro, May 2018<\/p>\n

[3]<\/a>\u00a0Renewable Energy Country Attractiveness Index<\/a>, Issue 54, November 2019<\/p>\n

[4]<\/a>\u00a0Energy Monitor: Renewable energy in Latin America<\/a>, ABN Amro, May 2018<\/p>\n

[5]<\/a>\u00a0\u201cInvestment in Renewable Energy Sources Is Booming in Latin America<\/a>\u201d, Americas Quarterly, accessed December 12, 2019<\/p>\n

[6]<\/a>\u00a0Annual CO2\u00a0Emissions by Region,<\/a>\u00a0Global Carbon Project & Carbon Dioxide Information Analysis Center, 2019<\/p>\n

[7]<\/a>\u00a0\u201cLatin America and Caribbean Climate Week Is an Opportune Moment to Strengthen Regional Climate Action<\/a>\u201d, World Resources Institute, August 20, 2019<\/p>\n

[8]<\/a>\u00a0The Social Panorama of Latin America<\/em><\/a>, Economic Commission for Latin America and the Caribbean, December 2019<\/p>\n

[9]<\/a>\u00a0\u201cRenewable electricity generation in Chile from August 2016 to March 2019<\/a>\u201d, Statista, accessed December 4, 2019<\/p>\n

[10]<\/a>\u00a0Figures published by the Chilean National Energy Commission, November 2019<\/p>\n

[11]<\/a>\u00a0\u201cLong-term drought parches Chile<\/a>\u201d, Nasa Earth Observatory, accessed December 11, 2019<\/p>\n

[12]<\/a>\u00a0Electricity generation by fuel: Chile<\/em><\/a>,\u00a0International Energy Agency 2017.<\/p>\n

[13]<\/a>\u00a0\u201cCurrent situation and major challenges of desalination in Chile<\/a>\u201d, Desalination and Water Treatment Journal, December 2019.<\/p>\n

[14]<\/a>\u00a0\u201cChilean environmental authority approves largest desalination plant in Latin America<\/a>\u201d, Reuters, September 27, 2018.\n<\/div>\n

\t<\/p>\n","protected":false},"excerpt":{"rendered":"

Latin America grabbed headlines at the\u00a0United Nations Climate Action Summit\u00a0in New York in November 2019, when it pledged a collective target of 70% renewable energy use by 2030 \u2013 more than double the EU\u2019s target of 32%[1]. According to a report from ABN Amro[2], in 2018 renewables accounted for around 25% of the energy supply.\u00a0\u2026<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-14301","post","type-post","status-publish","format-standard","hentry","category-press-releases"],"acf":[],"yoast_head":"\nPowering potential: renewable energy in Latin America - FRV<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/frv.com\/en\/powering-potential-renewable-energy-in-latin-america\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Powering potential: renewable energy in Latin America - FRV\" \/>\n<meta property=\"og:description\" content=\". 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here","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/frv.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/frv.com\/#\/schema\/person\/36bbca0dc8d93ec37201f8b72fa62619","name":"admin_brooktec","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/frv.com\/en\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0e7fb0448eaf832d491c60fa758bdfb0?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0e7fb0448eaf832d491c60fa758bdfb0?s=96&d=mm&r=g","caption":"admin_brooktec"},"sameAs":["https:\/\/frv.com"],"url":"https:\/\/frv.com\/en\/author\/admin_brooktec\/"}]}},"search_content":"<p>Latin America grabbed headlines at the\u00a0<a href=\"https:\/\/www.un.org\/climatechange\">United Nations Climate Action Summit<\/a>\u00a0in New York in November 2019, when it pledged a collective target of 70% renewable energy use by 2030 \u2013 more than double the EU\u2019s target of 32%<a href=\"https:\/\/www.alj.com\/en\/perspective\/powering-potential-renewable-energy-in-latin-america\/#_ftn1\" name=\"_ftnref1\">[1]<\/a>.<\/p>\n<p>According to a report from ABN Amro<a href=\"https:\/\/www.alj.com\/en\/perspective\/powering-potential-renewable-energy-in-latin-america\/#_ftn2\" name=\"_ftnref2\">[2]<\/a>, in 2018 renewables accounted for around 25% of the energy supply.\u00a0 So, achieving this target will require substantial investment in a diverse range of renewable energy technologies.<\/p>\n<p>There should be no shortage of potential investors.\u00a0 Latin American countries represent four of the top 20 most attractive renewable energy markets in the world<a href=\"https:\/\/www.alj.com\/en\/perspective\/powering-potential-renewable-energy-in-latin-america\/#_ftn3\" name=\"_ftnref3\">[3]<\/a>, with a great number of opportunities in both greenfield projects and the secondary market according to EY\u2019s \u2018<a href=\"https:\/\/www.ey.com\/en_uk\/power-utilities\/renewable-energy-country-attractiveness-index\">RECAI<\/a>\u2019 index.<\/p>\n<p><img decoding=\"async\" class=\"alignnone wp-image-56644 size-full\" src=\"https:\/\/www.alj.com\/app\/uploads\/2020\/01\/RECAI-scaled.jpg\" sizes=\"(max-width: 2560px) 100vw, 2560px\" srcset=\"https:\/\/www.alj.com\/app\/uploads\/2020\/01\/RECAI-scaled.jpg 2560x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/RECAI-300x97.jpg 300x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/RECAI-1024x332.jpg 1024x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/RECAI-150x49.jpg 150x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/RECAI-768x249.jpg 768x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/RECAI-1536x498.jpg 1536x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/RECAI-2048x665.jpg 2048x\" alt=\"Powering potential: renewable energy in Latin America\" width=\"2560\" height=\"831\" data-pagespeed-url-hash=\"3991333571\" \/><\/p>\n<p>Between 2012 and 2015, renewables investments in Latin America totaled around US$ 54 billion<a href=\"https:\/\/www.alj.com\/en\/perspective\/powering-potential-renewable-energy-in-latin-america\/#_ftn1\" name=\"_ftnref1\">[1]<\/a>, mostly in Brazil, Chile and Mexico.\u00a0 In 2017, alone, investment in renewable energy across the region jumped 65% to US$ 17.2 billion, compared to a global average of just 3% growth<a href=\"https:\/\/www.alj.com\/en\/perspective\/powering-potential-renewable-energy-in-latin-america\/#_ftn2\" name=\"_ftnref2\">[2]<\/a>. \u00a0The rise was driven by record investment in Mexico and a nine-fold increase in Argentina, particularly in wind and solar sectors. \u00a0Other major investment destinations in the region included Brazil, Peru, Chile and Costa Rica.<\/p>\n<h3>Coping with climate change<\/h3>\n<p>Maintaining the exponential level of growth in renewable energy in Latin America not only makes compelling economic and commercial sense, it is also an environmental necessity.<\/p>\n<p>Latin America has made a relatively small contribution to climate change in historical terms \u2013 its carbon emissions made up only around 7% of the global total in 2015<a href=\"https:\/\/www.alj.com\/en\/perspective\/powering-potential-renewable-energy-in-latin-america\/#_ftn3\" name=\"_ftnref3\">[3]<\/a>\u00a0\u2013 yet it is likely to suffer disproportionately from the negative impacts.<\/p>\n<p>Temperatures in parts of Latin America and the Caribbean are expected to rise between 2\u00b0C and 3\u00b0C by 2050, and between 2.5\u00b0C and 4.5\u00b0C by 2100<a href=\"https:\/\/www.alj.com\/en\/perspective\/powering-potential-renewable-energy-in-latin-america\/#_ftn4\" name=\"_ftnref4\">[4]<\/a>. \u00a0The resulting deterioration of ecosystems, extreme weather events and loss of biodiversity will have major implications for economies and social well-being.<\/p>\n<p>Indeed, the region\u2019s geography, climate, topography and demographics, together with the climate-sensitivity of natural assets mean that climate change is already a daily reality for many.<\/p>\n<p>Its long coastlines and many low-lying islands make it uniquely vulnerable to rising sea levels.\u00a0 For example, while the inexorable rise of global temperatures has begun to accelerate the melt rate of vast glaciers in Chile and Argentina, this has increased the danger of catastrophic floods.<\/p>\n<p>Latin America is home to vital environmental assets such as the Amazon rainforest, Brazil\u2019s Pantanal and Colombia\u2019s P\u00e1ramos \u2013 globally significant natural wonderlands of immense biodiversity.\u00a0 Minor changes to the delicate ecological balance of these areas have the potential to cause exponentially larger knock-on effects around the world.<\/p>\n<p>South and Central America are already accustomed to extreme weather phenomena.\u00a0 Dorian, the hurricane that devastated the Bahamas in September 2019, had sustained winds of 185mph, while the most recent El Ni\u00f1o event, which ended in 2016, caused severe droughts throughout the region.<\/p>\n<p>The socio-economic situation in many Latin American and Caribbean countries also makes them disproportionately vulnerable to the effects of climate change.\u00a0 According to a report from the UN\u2019s Economic Commission for Latin America and the Caribbean, 30.1% of the region\u2019s population lived below the poverty line in 2018, while 10.7% lived in what the Commission describes as \u201cextreme poverty\u201d<a href=\"https:\/\/www.alj.com\/en\/perspective\/powering-potential-renewable-energy-in-latin-america\/#_ftn5\" name=\"_ftnref5\">[5]<\/a>.\u00a0 This means that approximately 185 million people were below the poverty threshold in 2018, with 66 million of these people experiencing extreme poverty.<\/p>\n<h3>Chile leading the charge<\/h3>\n<p>Chile is at the forefront of the renewables revolution in Latin America and can already point to a number of successful initiatives to increase the proportion of renewable sources in the country\u2019s energy mix.<\/p>\n<p><img decoding=\"async\" class=\"size-full wp-image-56651 alignnone\" src=\"https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Chile-renewable.png\" sizes=\"(max-width: 923px) 100vw, 923px\" srcset=\"https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Chile-renewable.png 923x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Chile-renewable-300x204.png 300x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Chile-renewable-150x102.png 150x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Chile-renewable-768x523.png 768x\" alt=\"Powering potential: renewable energy in Latin America\" width=\"923\" height=\"628\" data-pagespeed-url-hash=\"869215745\" \/><\/p>\n<p>Having relied on imported coal, gas and petroleum for much of its domestic and industrial power needs since industrialization, in more recent decades this mountainous country has become a major producer of hydropower.<\/p>\n<p>Environmental concerns, however, means that public opinion over the past decade \u2013 and to a certain extent government policy \u2013 have switched the renewables focus towards solar and wind energy, resources the country has in even greater abundance.\u00a0 The intensity of the sun in the Atacama Desert in the north of Chile, for example, is unequalled anywhere in the world.\u00a0 While the long coastline of Chile provides rich wind resources all year round.<\/p>\n<p>Chile was producing 865 gigawatt hours of renewable electricity per month in mid-2016. \u00a0By March 2019, this had leapt to 1,188 gigawatt hours<a href=\"https:\/\/www.alj.com\/en\/perspective\/powering-potential-renewable-energy-in-latin-america\/#_ftn1\" name=\"_ftnref1\">[1]<\/a>.\u00a0 By the end of September 2019, almost 22% of the nation\u2019s total energy capacity derived from renewable energy sources<a href=\"https:\/\/www.alj.com\/en\/perspective\/powering-potential-renewable-energy-in-latin-america\/#_ftn2\" name=\"_ftnref2\">[2]<\/a>.<\/p>\n<p>Fotowatio Renewable Ventures (FRV), part of\u00a0<a href=\"https:\/\/alj.com\/energy\">Abdul Latif Jameel Energy<\/a>, has established itself as key player in the Chilean renewables sector.<\/p>\n<figure id=\"attachment_56658\" class=\"wp-caption alignnone\" aria-describedby=\"caption-attachment-56658\"><img decoding=\"async\" class=\"wp-image-56658 size-full\" src=\"https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Manuel-Pavon.jpg\" sizes=\"(max-width: 1377px) 100vw, 1377px\" srcset=\"https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Manuel-Pavon.jpg 1377x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Manuel-Pavon-300x199.jpg 300x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Manuel-Pavon-1024x680.jpg 1024x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Manuel-Pavon-150x100.jpg 150x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Manuel-Pavon-768x510.jpg 768x\" alt=\"Powering potential: renewable energy in Latin America\" width=\"1377\" height=\"915\" data-pagespeed-url-hash=\"1059722613\" \/><figcaption id=\"caption-attachment-56658\" class=\"wp-caption-text\">Manuel Pavon, Managing Director, FRV South America<\/figcaption><\/figure>\n<p>Manuel Pavon, FRV Managing Director for South America, says the Chilean government is strongly committed to further growth in the country\u2019s renewable energy capacity.<\/p>\n<blockquote><p><em>\u201cThe government set a goal to have 20% of renewables by 2025. That goal was accomplished early, during 2018, and the government is thinking of increasing the goal to 25% or 30%.\u00a0 It wants to decommission all the coal-based power plants in the country \u2013 that\u2019s five gigawatts of thermal generation \u2013 by 2040.\u00a0 These decommissioned power stations will be replaced by a mix of renewables and other technologies.\u201d<\/em><\/p><\/blockquote>\n<p>One of these new developments is a\u00a0<a href=\"https:\/\/frv.com\/en\/frv-awarded-540-gwh-in-chile\/\">hybrid solar-wind<\/a>\u00a0project currently being developed by FRV to power almost 250,000 homes with clean energy, all year round, split between two sites \u2013 a solar power plant in the north of the country and a wind plant in the south.<\/p>\n<blockquote><p><em>\u201cThis hybrid combination of solar and wind allows us to provide renewable energy 24\/7,\u201d<\/em>says Pavon.\u00a0\u00a0<em>\u201cDuring the day we provide solar power, and during the night we will provide wind power.\u00a0<\/em><em>There is due to be a tender in May 2020, in which the Chilean National Commission will procure six terawatts of energy. \u00a0The \u2018big four\u2019 incumbents are losing market share every year, but the market itself is growing.\u00a0 We expect it will continue increasing up to 1.5 gigawatts per year for the following five years.\u00a0 So, it is a very interesting market for us.\u201d<\/em><\/p><\/blockquote>\n<figure id=\"attachment_56665\" class=\"wp-caption alignnone\" aria-describedby=\"caption-attachment-56665\"><img decoding=\"async\" class=\"wp-image-56665 size-full\" src=\"https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Atacama-desert.jpg\" sizes=\"(max-width: 1430px) 100vw, 1430px\" srcset=\"https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Atacama-desert.jpg 1430x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Atacama-desert-300x193.jpg 300x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Atacama-desert-1024x657.jpg 1024x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Atacama-desert-150x96.jpg 150x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Atacama-desert-768x493.jpg 768x\" alt=\"Powering potential: renewable energy in Latin America\" width=\"1430\" height=\"918\" data-pagespeed-url-hash=\"4009662838\" \/><figcaption id=\"caption-attachment-56665\" class=\"wp-caption-text\">Atacama Desert, Chile \u00a9 Photo Credit Alex Wolo\u00a0<\/figcaption><\/figure>\n<p>In fact, such is the potential of Chile, that FRV recently relocated its regional headquarters to the country from Brazil.<\/p>\n<blockquote><p><em>\u201cThe government is very pro-renewables and there are some excellent opportunities here. \u00a0We wanted to be as close as possible to this market so we can take advantage of those opportunities when they arise,\u201d<\/em>\u00a0says Pavon.<\/p><\/blockquote>\n<p><img decoding=\"async\" class=\"size-full wp-image-56672 alignnone\" src=\"https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Chile-renewable-energy-scaled.jpg\" sizes=\"(max-width: 2560px) 100vw, 2560px\" srcset=\"https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Chile-renewable-energy-scaled.jpg 2560x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Chile-renewable-energy-300x212.jpg 300x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Chile-renewable-energy-1024x724.jpg 1024x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Chile-renewable-energy-150x106.jpg 150x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Chile-renewable-energy-768x543.jpg 768x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Chile-renewable-energy-1536x1086.jpg 1536x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Chile-renewable-energy-2048x1448.jpg 2048x\" alt=\"Powering potential: renewable energy in Latin America\" width=\"2560\" height=\"1811\" data-pagespeed-url-hash=\"2391895039\" \/><\/p>\n<p>It is not only the government who recognize the need for more renewable energy. \u00a0Pavon says that there is a strong connection between climate change and the need for renewable energy in the minds of the Chilean public, too.<\/p>\n<p>Chile is more than 4,000 km long, with a variety of climates, but rainfall is generally low and the country is in the midst of a 13-year drought. \u00a0Combined with the poor perception of hydropower, it is not surprising, says Pavon, that Chile\u2019s early adoption of renewables, and the accompanying renewable-friendly regulatory framework, means that, alongside Brazil, it has the potential to become one of the continent\u2019s renewables success stories.<\/p>\n<blockquote><p><em>\u201cWithin the Latin American region, most countries are at a similar stage, and FRV is exploring projects in Uruguay, Brazil, Peru and Colombia.\u00a0 But Chile has gone one step further, in terms of things like the regulatory frameworks, for example.\u00a0 It can sometimes take a long time to get projects started, but it is very stable and secure. \u00a0That\u2019s why also most banks in Latin America are based in Chile,\u201d<\/em>\u00a0he says.<\/p><\/blockquote>\n<div class=\"article-text\">\n<h3>Action across the Andes<\/h3>\n<p>Across the Andes from Chile, the renewable energy markets in Brazil and Uruguay are also benefitting from FRV’s growing presence in Latin America.<\/p>\n<p>One of its first projects in the region was the\u00a0<a href=\"https:\/\/frv.com\/en\/projects\/la-jacinta\/\">La Jacinta<\/a>\u00a0solar power plant in Salto, in the north of Uruguay, developed by FRV. \u00a0This was the first solar Power Purchase Agreement (PPA) that FRV signed with the Uruguayan state-owned electric company Administraci\u00f3n Nacional de Usinas y Transmisiones El\u00e9ctricas (<a href=\"https:\/\/portal.ute.com.uy\/\">UTE<\/a>) and was the first to become operational, in 2015. \u00a0It remains one of the largest solar plants in Latin America.<\/p>\n<p><img decoding=\"async\" class=\"alignnone wp-image-56687\" src=\"https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Solar-farm.png\" sizes=\"(max-width: 1377px) 100vw, 1377px\" srcset=\"https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Solar-farm.png 700x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Solar-farm-300x171.png 300x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Solar-farm-150x86.png 150x\" alt=\"Powering potential: renewable energy in Latin America\" width=\"1377\" height=\"787\" data-pagespeed-url-hash=\"58336198\" \/><\/p>\n<p>With 65 MWdc of installed power, the solar plant provides the 100% of its energy to UTE and meets the electrical needs of approximately 34,000 homes, while eliminating approximately 72,000 tons of CO2\u00a0emissions per year.<\/p>\n<p>FRV sold La Jacinta to Invenergy in 2017, but Pavon says the company is currently pursuing a number of other ventures in the country:<\/p>\n<blockquote><p><em>\u201c<\/em><em>We have an interesting pipeline in Uruguay. \u00a0We are continually speaking with UTE, which is responsible for generation, distribution and transmission, and we are aware of several potential opportunities coming up in the near future.\u00a0<\/em><em>Brazil is one of the biggest economies in the region, and we are waiting to see how the sector performs.\u00a0 We may have to wait a few years before we invest capital, but for the moment, we will be keeping a close eye on forthcoming opportunities.\u201d<\/em><\/p><\/blockquote>\n<h3>Making things happen in Mexico<\/h3>\n<p>As well as its operations in Chile, Uruguay and Brazil, FRV is rapidly establishing itself at the opposite end of the continent, in Mexico, where it has two major solar photovoltaic developments.<\/p>\n<p>https:\/\/www.youtube.com\/watch?v=cWePjsYRHVg&t=10s<\/p>\n<p>Its Potosi solar plant, in San Luis de Potosi, began producing energy operations last year. \u00a0The plant generates 815,000 MWh annually, providing enough energy to supply more than 76,000 homes and reduce Mexico\u2019s CO2\u00a0emissions by almost 98 million tons per year.<\/p>\n<p><img decoding=\"async\" class=\"alignnone wp-image-56695\" src=\"https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Jalisco.jpg\" sizes=\"(max-width: 1377px) 100vw, 1377px\" srcset=\"https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Jalisco.jpg 700x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Jalisco-300x171.jpg 300x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Jalisco-150x86.jpg 150x\" alt=\"Powering potential: renewable energy in Latin America\" width=\"1377\" height=\"787\" data-pagespeed-url-hash=\"542090953\" \/><\/p>\n<p>FRV\u2019s second plant, the Potrero PV plant in Jalisco, will generate 750,000 MWh per year, supplying 128,000 homes and reducing CO2\u00a0emissions by some 437,000 tons. \u00a0The Potrero plant is on course to be completed in July 2020 after around just 15 months of construction work.<\/p>\n<figure id=\"attachment_50649\" class=\"wp-caption alignleft\" aria-describedby=\"caption-attachment-50649\"><img decoding=\"async\" class=\"wp-image-50649 size-medium\" src=\"https:\/\/www.alj.com\/app\/uploads\/2019\/08\/Fernando-200x300.jpg\" sizes=\"(max-width: 200px) 100vw, 200px\" srcset=\"https:\/\/www.alj.com\/app\/uploads\/2019\/08\/Fernando-200x300.jpg 200x, https:\/\/www.alj.com\/app\/uploads\/2019\/08\/Fernando-100x150.jpg 100x, https:\/\/www.alj.com\/app\/uploads\/2019\/08\/Fernando-768x1150.jpg 768x, https:\/\/www.alj.com\/app\/uploads\/2019\/08\/Fernando-684x1024.jpg 684x, https:\/\/www.alj.com\/app\/uploads\/2019\/08\/Fernando.jpg 1669x\" alt=\"Powering potential: renewable energy in Latin America\" width=\"200\" height=\"300\" data-pagespeed-url-hash=\"539159262\" \/><figcaption id=\"caption-attachment-50649\" class=\"wp-caption-text\">Fernando Salinas Loring,<\/p>\n<p>Managing Director FRV Mexico and Central America<\/figcaption><\/figure>\n<p style=\"text-align: justify;\">Both FRV projects in Mexico are on track and performing well.\u00a0\u00a0<em>\u201cWith these two projects, we\u2019ve installed a total of 640 MW of capacity in a Mexican market currently holding around 73,000 MW.\u00a0 So, we have grown to become a relevant player in a very short period of time,\u201d<\/em>says\u00a0<a href=\"https:\/\/www.linkedin.com\/in\/fernando-salinas-loring-a0570211\/\">Fernando Salinas Loring<\/a>, Managing Director of FRV Mexico and Central America.<\/p>\n<p style=\"text-align: justify;\">The first wind-power plants began operating in Mexico in 2013. \u00a0The country now generates around 12.4 gigawatts from wind, compared to 2.2 gigawatts from solar.\u00a0 But, according to Loring, \u201c<em>solar is now beginning to catch up\u201d<\/em><\/p>\n<p style=\"text-align: justify;\"><img decoding=\"async\" class=\"size-full wp-image-56702 alignnone\" src=\"https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Mexican-solar-installations.jpg\" sizes=\"(max-width: 1300px) 100vw, 1300px\" srcset=\"https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Mexican-solar-installations.jpg 1300x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Mexican-solar-installations-300x208.jpg 300x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Mexican-solar-installations-1024x711.jpg 1024x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Mexican-solar-installations-150x104.jpg 150x, https:\/\/www.alj.com\/app\/uploads\/2020\/01\/Mexican-solar-installations-768x533.jpg 768x\" alt=\"Powering potential: renewable energy in Latin America\" width=\"1300\" height=\"903\" data-pagespeed-url-hash=\"3068567461\" \/><br \/>\nOne of the reasons for this success, he says, is a change in government attitude towards the renewables sector.<\/p>\n<blockquote><p><em>\u201cThe government has reaffirmed the renewable energy target of 35% by 2024, which is critically important,\u201d he says, \u201cCurrently, 24% of Mexico\u2019s energy is provided by clean energy.\u00a0 So, we need to get to 35% in the next five years. It\u2019s not going to be easy, but it can be done.\u201d<\/em><\/p><\/blockquote>\n<p>His optimism is shared by Manuel Pavon in Chile, fueled by pro-renewables government policies and changing public expectations.<\/p>\n<blockquote><p><em>\u201cThe sentiment we\u2019re seeing across the whole Latin American region is concern about climate change.\u00a0 It is much greater than it was even four or five years ago.\u00a0 People are also thinking about the wellbeing of our communities and cities, and governments realize that something has to change in terms of energy policies.\u00a0 Renewable energy is a huge factor within all these considerations.\u00a0 At FRV, we are looking forward to capitalizing on these opportunities and helping to deliver a cleaner energy mix for Latin America\u2019s future,\u201d<\/em>\u00a0says Pavon.<\/p><\/blockquote>\n<p><em>Source: <a href=\"https:\/\/www.alj.com\/en\/\">alj.com\u00a0<\/a><\/em><\/p>\n<p><a href=\"https:\/\/www.alj.com\/en\/perspective\/powering-potential-renewable-energy-in-latin-america\/#_ftnref1\" name=\"_ftn1\">[1]<\/a>\u00a0\u201c<a href=\"https:\/\/www.reuters.com\/article\/us-climate-change-un-colombia\/latin-america-pledges-70-renewable-energy-surpassing-eu-colombia-minister-idUSKBN1WA26Y\">Latin America pledges 70% renewable energy, surpassing EU<\/a>\u201d, Reuters, September 25, 2019<\/p>\n<p><a href=\"https:\/\/www.alj.com\/en\/perspective\/powering-potential-renewable-energy-in-latin-america\/#_ftnref2\" name=\"_ftn2\">[2]<\/a>\u00a0<a href=\"https:\/\/insights.abnamro.nl\/en\/2018\/05\/energy-monitor-renewable-energy-in-latin-america\/\">Energy Monitor: Renewable energy in Latin America<\/a>, ABN Amro, May 2018<\/p>\n<p><a href=\"https:\/\/www.alj.com\/en\/perspective\/powering-potential-renewable-energy-in-latin-america\/#_ftnref3\" name=\"_ftn3\">[3]<\/a>\u00a0<a href=\"https:\/\/www.ey.com\/en_uk\/power-utilities\/renewable-energy-country-attractiveness-index\">Renewable Energy Country Attractiveness Index<\/a>, Issue 54, November 2019<\/p>\n<p><a href=\"https:\/\/www.alj.com\/en\/perspective\/powering-potential-renewable-energy-in-latin-america\/#_ftnref4\" name=\"_ftn4\">[4]<\/a>\u00a0<a href=\"https:\/\/insights.abnamro.nl\/en\/2018\/05\/energy-monitor-renewable-energy-in-latin-america\/\">Energy Monitor: Renewable energy in Latin America<\/a>, ABN Amro, May 2018<\/p>\n<p><a href=\"https:\/\/www.alj.com\/en\/perspective\/powering-potential-renewable-energy-in-latin-america\/#_ftnref5\" name=\"_ftn5\">[5]<\/a>\u00a0\u201c<a href=\"https:\/\/www.americasquarterly.org\/content\/investment-renewable-energy-sources-booming-latin-america\">Investment in Renewable Energy Sources Is Booming in Latin America<\/a>\u201d, Americas Quarterly, accessed December 12, 2019<\/p>\n<p><a href=\"https:\/\/www.alj.com\/en\/perspective\/powering-potential-renewable-energy-in-latin-america\/#_ftnref6\" name=\"_ftn6\">[6]<\/a>\u00a0<a href=\"https:\/\/ourworldindata.org\/grapher\/annual-co-emissions-by-region\">Annual CO2\u00a0Emissions by Region,<\/a>\u00a0Global Carbon Project & Carbon Dioxide Information Analysis Center, 2019<\/p>\n<p><a href=\"https:\/\/www.alj.com\/en\/perspective\/powering-potential-renewable-energy-in-latin-america\/#_ftnref7\" name=\"_ftn7\">[7]<\/a>\u00a0\u201c<a href=\"https:\/\/www.wri.org\/blog\/2019\/08\/latin-america-and-caribbean-climate-week-opportune-moment-strengthen-regional-climate\">Latin America and Caribbean Climate Week Is an Opportune Moment to Strengthen Regional Climate Action<\/a>\u201d, World Resources Institute, August 20, 2019<\/p>\n<p><a href=\"https:\/\/www.alj.com\/en\/perspective\/powering-potential-renewable-energy-in-latin-america\/#_ftnref8\" name=\"_ftn8\">[8]<\/a>\u00a0<a href=\"https:\/\/www.cepal.org\/en\/publications\/44989-social-panorama-latin-america-2019\"><em>The Social Panorama of Latin America<\/em><\/a>, Economic Commission for Latin America and the Caribbean, December 2019<\/p>\n<p><a href=\"https:\/\/www.alj.com\/en\/perspective\/powering-potential-renewable-energy-in-latin-america\/#_ftnref9\" name=\"_ftn9\">[9]<\/a>\u00a0\u201c<a href=\"https:\/\/www.statista.com\/statistics\/758824\/renewable-electricity-generation-chile\/\">Renewable electricity generation in Chile from August 2016 to March 2019<\/a>\u201d, Statista, accessed December 4, 2019<\/p>\n<p><a href=\"https:\/\/www.alj.com\/en\/perspective\/powering-potential-renewable-energy-in-latin-america\/#_ftnref10\" name=\"_ftn10\">[10]<\/a>\u00a0Figures published by the Chilean National Energy Commission, November 2019<\/p>\n<p><a href=\"https:\/\/www.alj.com\/en\/perspective\/powering-potential-renewable-energy-in-latin-america\/#_ftnref11\" name=\"_ftn11\">[11]<\/a>\u00a0\u201c<a href=\"https:\/\/earthobservatory.nasa.gov\/images\/145874\/long-term-drought-parches-chile\">Long-term drought parches Chile<\/a>\u201d, Nasa Earth Observatory, accessed December 11, 2019<\/p>\n<p><a href=\"https:\/\/www.alj.com\/en\/perspective\/powering-potential-renewable-energy-in-latin-america\/#_ftnref12\" name=\"_ftn12\">[12]<\/a>\u00a0<a href=\"https:\/\/www.iea.org\/stats\/WebGraphs\/CHILE2.pdf\"><em>Electricity generation by fuel: Chile<\/em><\/a>,\u00a0International Energy Agency 2017.<\/p>\n<p><a href=\"https:\/\/www.alj.com\/en\/perspective\/powering-potential-renewable-energy-in-latin-america\/#_ftnref13\" name=\"_ftn13\">[13]<\/a>\u00a0\u201c<a href=\"https:\/\/www.deswater.com\/DWT_articles\/vol_171_papers\/171_2019_93.pdf\">Current situation and major challenges of desalination in Chile<\/a>\u201d, Desalination and Water Treatment Journal, December 2019.<\/p>\n<p><a href=\"https:\/\/www.alj.com\/en\/perspective\/powering-potential-renewable-energy-in-latin-america\/#_ftnref14\" name=\"_ftn14\">[14]<\/a>\u00a0\u201c<a href=\"https:\/\/www.reuters.com\/article\/us-chile-energy\/chilean-environmental-authority-approves-largest-desalination-plant-in-latin-america-idUSKCN1M71PD\">Chilean environmental authority approves largest desalination plant in Latin America<\/a>\u201d, Reuters, September 27, 2018.\n<\/div>\n<p> 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