Brazil’s wind power portfolio has grown sharply in recent years. In Latin America, besides Brazil, Chile and Colombia are seen as countries with great potential.
This has been revealed in a latest report by the Global Wind Energy Council (GWEC).
As per the report on global wind energy market, GWEC has made it clear that it has "expected growth in wind capacity to average 107GW a year until 2025."
To be noted, "Latin America is expected to account for around 5% of additional capacity, behind China, North America and Europe," a report mentioned.
However, besides Brazil, Chile and Colombia in Latin America, the rollout of new wind capacity in Mexico has continued to slow down last year.
With the slow down, Mexico is no longer considered the second largest contributor in Latin America. "Mexico added 473MW of new capacity in 2021, or 17% less than the previous year, when additions fell from 1,281MW in 2019 to 574MW," as per a local report.
According to GWEC, "Latin America’s huge renewables potential, however, continues to be held back by a lack of government support, economic instability and the precarious state of transmission grids."
Besides these countries, other promising markets in the region are Peru and Colombia.