in News Departments > New & Noteworthy
print the content item

Although wind power plant construction across Latin America is modest compared to more established markets, such as North America and Europe, the region's wind industry is taking off at a rapid pace, according to a new report from Navigant Research.

The firm says Latin America has become the hottest growth market for the wind energy industry at a time when growth rates in other markets, such as the U.S., are flat or declining due to a variety of policy and macroeconomic challenges. According to the report, annual wind power installations in Latin America will roughly double, in terms of capacity, over the next 10 years, growing from nearly 2.2 GW this year to 4.3 GW by 2022.

“Latin America is expected to account for at least 5.5 percent of the world’s new wind power installations in 2013,” says Feng Zhao, research director with Navigant Research. “With the strong political support of most governments and rapid economic growth fueling rising electricity demand, wind markets in the region are expected to exhibit double-digit compound annual growth rates through the next 10 years.”

The latest 2013 wind power contract auction round in Brazil resulted in prices stabilizing at higher rates and the signing on of 1,505 MW of new wind capacity, according to the report. Navigant says this suggests that the unsustainable downward trend in prices bottomed out last year, and the Brazilian market appears to be poised for strong growth moving forward.

According to the report, Mexico brought online over 800 MW in 2012, and the market should surpass a cumulative 2 GW by the end of 2014.

However, Navigant notes that Mexico’s 2012 wind capacity is only 2.5% of the country’s generation total, which is low for a country with a target calling for 35% renewables by 2024. (For more on wind development in Mexico, click here.)






Trachte Inc._id1770
Latest Top Stories

Wind And Solar Are Catching Up With Nuclear Power, Says Report

A new report from the Worldwatch Institute says nuclear energy's share of global power production is steadily shrinking. Meanwhile, renewables' share keeps growing.


Could New Desert Plan Spell The End Of California Wind Energy Development?

The California Wind Energy Association says it is disappointed with the draft Desert Renewable Energy Conservation Plan, which was recently released by state and federal agencies.


New U.S. House Bill Includes Wind PTC Extension

U.S. representatives have introduced the Bridge to a Clean Energy Future Act of 2014, which would extend the production tax credit (PTC) and other provisions through 2016.


Utility-Scale Wind And Solar Keep Getting Cheaper

A new study measures the levelized cost of energy from various technologies and suggests that the costs of utility-scale wind and solar power are catching up with those of traditional sources, even without subsidies.


The Song Remains The Same: Ontario Seeks More Science Before Lifting Offshore Ban

The Ontario government says the nearly four-year-old offshore wind moratorium will remain in place until the province fully understands the technology’s impact on the environment.

Renewable NRG_id1934
Canwea_id1984
Future Energy_id2008
UnitedEquip_id1995