In Latin America, many countries are actively promoting the development of renewable energy to achieve green economic transformation and sustainable development. Among them, the Chilean government has made it clear that the country has the conditions for diversified, sustainable and innovative development, and will focus on promoting the development of lithium and green hydrogen industry.
In Colombia, hydropower accounts for a significant share of total electricity generation, about 70%. In recent years, the country has made efforts to promote the diversification of renewable energy. According to the “2024 Renewable Energy” report released by the Colombian Renewable Energy Association, a total of 25 solar power projects will be put into operation in 2023, with a significant increase in total installed capacity to 208 MW, a year-on-year growth rate of up to 70%. It is expected that by 2024, the installed capacity of photovoltaic power generation will further increase to 1.24 GW, and the total installed capacity of photovoltaic power generation projects in the planning stage is as high as 1.8 GW.
In terms of policy support, many countries in Latin America have stepped up efforts to regard the development of renewable energy as an important means to promote economic growth. According to the Global Renewable Energy Outlook report, investment demand for renewable energy in Latin America is expected to reach about $45 billion per year by 2050, with economic returns of $3 to $8 for every $1 invested. Investment in renewable energy is expected to boost Latin America’s GDP by 2.4% by 2050.
In terms of investment trends, Brazil is particularly prominent in the renewable energy sector. According to the Energy Transition Investment Trends 2024 report released by Bloomberg, Brazil will invest more than $25 billion in renewable energy in 2023, ranking third in the world. The Brazilian government has made it clear that it will increase its support to promote the development of renewable energy generation and low-carbon hydrocarbon, and plans to invest a lot of money in the construction of energy transition and related infrastructure.
In terms of energy cooperation between China and Latin America, Chinese enterprises have become an important force in renewable energy investment in the region. The research shows that in recent years, the installed capacity of photovoltaic power generation and wind power invested by Chinese enterprises in Latin America has achieved significant growth. In addition, Chinese enterprises have actively participated in the construction and operation of local clean energy projects, providing strong support for the energy transformation and green development of Latin American countries.
Post time: Jun-25-2024