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After a difficult 2020, wind and solar will be rapidly developing in Latin America this year, with new installed capacity exceeding 10 gigawatts (GW)
for the first time, according to Bloomberg New Energy Finance.
By 2023, a broader recovery will bring the total new installed capacity to about 30GW, bringing the current utility-scale cumulative wind and solar capacity to 48GW, an increase of two-thirds
.
The record increase was due to the fact that last year's pandemic slowed down project development and inhibited activity, and net increases fell sharply, breaking four consecutive years of growth
.
The unrest of Mexico's regulators has exacerbated the situation
.
Over the next three years, the fate of the region's four major markets will be very different
.
Brazil and Chile are expected to have strong momentum, with delayed deliveries strengthening the pipeline of projects already associated with auctions and bilateral PPAs in each country
.
On the other hand, activity in Mexico and Argentina is likely to weaken
further.
After a difficult 2020, wind and solar will be rapidly developing in Latin America this year, with new installed capacity exceeding 10 gigawatts (GW)
for the first time, according to Bloomberg New Energy Finance.
By 2023, a broader recovery will bring the total new installed capacity to about 30GW, bringing the current utility-scale cumulative wind and solar capacity to 48GW, an increase of two-thirds
.
The record increase was due to the fact that last year's pandemic slowed down project development and inhibited activity, and net increases fell sharply, breaking four consecutive years of growth
.
The unrest of Mexico's regulators has exacerbated the situation
.
Over the next three years, the fate of the region's four major markets will be very different
.
Brazil and Chile are expected to have strong momentum, with delayed deliveries strengthening the pipeline of projects already associated with auctions and bilateral PPAs in each country
.
On the other hand, activity in Mexico and Argentina is likely to weaken
further.
