Mexico, Chile also lead the way in regional growth opportunities.
Led by Brazil, Latin America is expected to reach 46 GW total installed wind capacity by 2025 with a 12.6 percent compound annual growth rate of yearly installations, according to a new market study, Latin America Wind Power Markets and Strategies: 2010-2025, from IHS Emerging Energy Research. Brazil will lead the region with 31.6 GW installed by 2025, trailed by Mexico with 6.6 GW. Chile will also add significant wind power, boosted by the country’s Renewable Portfolio Standard, according to the study.
Brazil, Mexico and Chile have set the policy and industrial frameworks to sustain market growth. “Brazil’s market scale and proactive renewable energy policies are moving Latin America toward a key tipping point, from sporadic project activations to more steady wind power market growth,” says IHS analyst Vincent Gautier, one of the study’s authors. “Improving government incentives from tenders to financing conditions are encouraging local developers such as Dobreve Energia, Renova Energia and CPFL to lead the market.”
Source: Emerging Energy Research