Will potential become reality?

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Despite the growth of the past years, most Latin American countries still exhibit a considerable opportunity for development when it comes to renewable energy sources. Renewables still account for less than 20 percent of the primary energy supply in Mexico. In Argentina, they make up an average of 10 percent of the primary energy generation. In addition, countries like Brazil and Paraguay – which hold some of the region’s highest shares of renewables in their domestic energy supply – heavily rely on large hydropower plants. Yet, the promotion of large hydropower as a renewable energy source finds itself under dispute due to the high social and environmental impacts caused by dam construction. As a result, in the age of solar and wind, Latin American countries like Argentina, Chile, and Mexico remain among the most attractive for renewable energy investments.

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Cumulative installed solar PV capacity(-2020)

Argentina: (759MW); Brazil: (7740MW); Chile: (2654MW); Mexico: (5630MW).

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Brazil：2021（5.2GW）； 2022（6 GW）；2023（7.9 GW）；2024（9.8 GW）；2029（20.4 GW）

Mexico: 2021（6.4GW）；2022（7.1 GW）；2023（7.9 GW）；2024（8.7 GW）

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HIGHLIGHTS:-  The federal government this week launched the 2021/2022 harvest plan, which will provide 251.2 billion reais to support national agricultural production. New financing can be negotiated between July 1, 2021, and June 30, 2022. The interest rate varies from 3% to 8.5% depending on the credit line.Governments in Latin American countries have set a target of generating 70% of the countries’ total energy consumption from renewables by 2030, requiring a rapid acceleration in renewable projects.