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Latin America and Caribbean poised for renewable growth

Delegates at a renewable energy conference for Latin America and the Caribbean have called for investment into the region.

By Isabella Kaminski

The Renewable Energy Finance Forum for Latin America & the Caribbean (REFF-LAC) has called on international policy makers and financiers to capitalise on the rapidly growing renewable energy industry in the Latin American and Caribbean region.

The forum’s first conference in February was hosted by the Latin American Council on Renewable Energy (LAC-CORE), the American Council On Renewable Energy (ACORE) and Euromoney Energy Events in Miami. Delegates came from over 25 countries including Brazil, Panama, Mexico, Colombia, Guatemala, Costa Rica, Peru, Nicaragua, Chile and Argentina.

Michael Eckhart, President of ACORE, says: “We are in a stronger market for renewable resources than ever before - and the market is not just New York or London, it is global. The outlook for Latin America and the Caribbean within this global context is very positive. The region is presenting greater opportunities and fewer risks than in the past. It’s clear following the REFF-LAC conference that the global financial community is poised to capitalise on Latin America as the next viable market for renewable energy development.”

Marcelo Tokman, Vice President of Latin America for Vestas, was one of the keynote speakers at the conference. He said: “Latin America has an abundant pool of renewable--particularly solar, wind, bio and geothermal. The right incentives, regulations and policies can fuel the growth process when combined with direct investment. The outlook is positive and governments are actively working to solve them through energy auctions that seek to reduce costs while providing long-term certainty. Transparency, longevity and certainty are necessary for success of renewable energy moving forward.”

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