A RACE TO THE TOP: LATIN AMERICA

Latin America possesses significant potential to lead in renewable energy, with over 319 GW of prospective utility-scale solar and wind capacity that could increase the region's current capacity by more than 460% by 2030. While Brazil, Chile, and Colombia are accelerating their buildouts and are on track to meet national targets, Mexico's progress has stalled due to policy shifts favoring state-owned fossil fuel entities. The report highlights the role of solar and wind in diversifying energy matrices to reduce reliance on drought-prone hydropower and the emerging economic opportunity of green hydrogen exports.

• Latin America has 69 GW of operating utility-scale solar (27.6 GW) and wind (41.5 GW) capacity, representing slightly over 15% of the region's total electrical capacity. If all prospective projects—totaling more than 319 GW—come online by 2030, the region's large-scale solar and wind capacity would grow by more than 460%.
• Brazil is the regional leader in combined operating capacity with 26.9 GW and is the world leader in prospective wind energy due to 128 GW of prospective offshore wind. Brazil's prospective utility-scale solar capacity of 57 GW also ranks it among the top five globally.
• Chile and Colombia are on track to meet their national targets. Chile aims for a 100% renewable energy system by 2030, requiring at least 15 GW of wind and solar; its prospective projects total 48 GW. Colombia's goal is 4 GW of renewable energy by 2030, while its operating and prospective capacity is 37 GW.
• Mexico's utility-scale renewable growth has declined following May 2021 energy policy amendments that increased control for state-owned entities and suspended construction permits. Despite a COP27 pledge to reach 40 GW of solar and wind by 2030, Mexico would only reach approximately 70% of this goal even if all prospective projects were completed.
• The region is increasingly using solar and wind to supplement hydropower, which has become unreliable due to changing rainfall patterns and scarce water resources. Brazil has served as a model for this diversification since a drought in 2001.
• Green hydrogen production is a primary economic driver for offshore wind development, with national strategies adopted by Brazil, Argentina, Paraguay, Ecuador, Uruguay, and Chile. However, social movements in areas like Oaxaca, Mexico, and La Guajira, Colombia, have protested against extractivist models and demanded more equitable benefit distribution.

APA

Bauer, S., O’Malia, K., Prasad, S., Clark, G., & Behrsin, I. (2023). A RACE TO THE TOP: LATIN AMERICA. Global Energy Monitor. https://globalenergymonitor.org/sites/default/files/migration/reports/GEM-LATAM-report_v8_11.pdf

Chicago

Bauer, Sophia, Kasandra O’Malia, Shradhey Prasad, Gregor Clark, and Ingrid Behrsin. A RACE TO THE TOP: LATIN AMERICA. Global Energy Monitor, 2023. https://globalenergymonitor.org/sites/default/files/migration/reports/GEM-LATAM-report_v8_11.pdf.

Wikipedia

{{cite report |last1=Bauer |first1=Sophia |last2=O’Malia |first2=Kasandra |last3=Prasad |first3=Shradhey |last4=Clark |first4=Gregor |last5=Behrsin |first5=Ingrid |title=A RACE TO THE TOP: LATIN AMERICA |publisher=Global Energy Monitor |date=March 2023 |url=https://globalenergymonitor.org/sites/default/files/migration/reports/GEM-LATAM-report_v8_11.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{bauer2023race, author = {Bauer, Sophia and O’Malia, Kasandra and Prasad, Shradhey and Clark, Gregor and Behrsin, Ingrid}, title = {{A RACE TO THE TOP: LATIN AMERICA}}, institution = {Global Energy Monitor}, year = {2023}, month = mar, url = {https://globalenergymonitor.org/sites/default/files/migration/reports/GEM-LATAM-report_v8_11.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }