The global energy transition was a central theme on the agenda of this year's G20 summit, with the world's leading nations committing to triple the supply of renewable energy by 2030.
And according to the study Green Energy in Latin America, recently conducted and published by Broadminded, countries like Brazil and Chile have the conditions to consolidate themselves as leading nations in this movement.
The survey highlights that Brazil currently has almost 90% of its electricity coming from renewable sources and that, although hydroelectric plants continue to be the basis of the matrix, the focus is increasingly on the expansion of solar and wind sources.
The mapping even estimates that the country should not only continue to lead the energy transition in Latin America in the coming years, but should also be responsible for 58% of the continent's new renewable energy capacity by the end of the decade.
In Chile, the scenario is equally promising: the country registered an increase of more than 1.300% in its solar capacity, taking advantage of the great potential of the Atacama Desert.
According to W. Schreiner Parker, managing director for Latin America at the energy intelligence company Rystad Energy, both nations have invested in clean energy not only to power their own sectors, but also to explore export opportunities, such as green hydrogen.
“Latin America, especially Brazil and Chile, can become a major exporter of this vital energy source. But success will depend on good regulatory measures, securing adequate financing and balancing fossil fuels with new opportunities for green energy exports,” he said.
Opportunities and challenges
Regarding Brazil, the study highlights that despite the polarized political scenario, solar and wind energy projects have received bipartisan support, which strengthens confidence in the continued growth of the sector.
However, it highlights that the country still faces significant challenges, especially related to electrical infrastructure. Expanding and modernizing the grid is crucial to integrate the growing renewable generation, especially in remote areas.
Furthermore, bottlenecks in energy transmission still limit the full use of the potential of clean sources in some regions of the country.
“Brazil, with its vast natural resources and sustainability-oriented policies, remains one of the main global players in the transition to a clean energy matrix. However, overcoming infrastructure and integration challenges will be vital to ensure continued sustainable growth in the sector,” the study highlights.
To access and download the full report Green Energy in Latin America, click here link.
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