Renewable Energy: the Future of Latin America

Published on Tuesday, 18 November 2014

'Latin America is the promised land of alternative energy and Enel Green Power is investing a total of €2.3 billion in the region over the next five years,' said Enel Green Power Latin America President Maurizio Bezzeccheri at a meeting held in Rome to discuss the importance of green energy in the continent. The meeting was organised by the Prestomedia observatory and the Spanish Foundation for Social and Cultural Promotion.

Latin America has seen a surprising level of renewable energy development, in particular in Brazil, Chile and Mexico, where green energy is currently more affordable than conventional power generation. In addition to these three countries, the Enel Group has an established, long-standing presence in Costa Rica, El Salvador, Guatemala and Panama. EGP recently put a plant online in Uruguay and it is looking at the possibility of expanding the renewable energy market in Peru and Colombia. The Group is also working on other innovative green projects, such as research into wave energy production in Chile.

A number of areas of Latin America are affected by severe energy distribution problems, and over 34 million people still do not have access to energy. Thanks to the abundant availability of natural resources, renewable energy can be a cost-effective solution.

'Latin America's renewable energy production was born from necessity rather than from a specific plan,' Bezzeccheri explained. 'The region is capable of producing twice as much energy as Europe, because the climate is a constant and costs are both more stable and competitive. Furthermore, the improvement of meteorological forecasts has enabled a combination of different types of energy: wind energy for example guarantees power during the night, when PV solar power systems are not active.'