Dhul Qadah 29 is the last day for Umrah pilgrims to leave the Kingdom 90-day duration of visa begins from the date of entering the Kingdom; Hajj Ministry clarifies    Centuries-old defensive moat and fortification wall unearthed in Historic Jeddah    7,700 commercial disputes resolved via Taradhi platform, says Ministry of Justice    'Saudi hospitality sector to generate SR42 billion investments and 120,000 jobs by 2030'    Chinese workers disagree with West over mass production claims    IMF forecast: Saudi economy to record 2nd highest global growth rate in 2025    EU's Josep Borrell warns Middle East 'on edge of regional war'    Indonesia issues tsunami alert after volcano erupts on remote island    US Senate kills the articles of impeachment against Alejandro Mayorkas    Dubai airport reopens after UAE suffers heavy rain    Poignant shot from Gaza wins World Press Photo of the Year 2024    NEOM launches 'Discover NEOM' China showcase with top industry leaders    Al Ain ends Al Hilal's record streak with a 4-2 win in AFC Champions League semi-final    Saudi Pro League postpones Al-Hilal vs. Al-Ahli match; Al-Ahli rejects rescheduling    50% traffic fine reduction takes effect    'Zarqa Al Yamama': Tickets now available for Saudi Arabia's first opera premiering April 25    AFC postpones Al Ain vs Al Hilal semi-final match due to weather conditions    Turki Alalshikh announces groundbreaking 5 vs 5 Riyadh Season bout featuring international boxing stars    Diriyah Biennale Foundation announces shortlist for AlMusalla Prize, set to revolutionize musalla architecture    Fourth Gulf Film Festival kicks off in Riyadh, scaling up Saudi movie industry Event extends over 5 days with the screening of 29 diverse films    JK Rowling in 'arrest me' challenge over hate crime law    Trump's Bible endorsement raises concern in Christian religious circles    Hollywood icon Will Smith shares his profound admiration for Holy Qur'an    We have celebrated Founding Day for three years - but it has been with us for 300    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Latin America's renewable energy capacity set to skyrocket to 123 GW by 2025
Published in The Saudi Gazette on 09 - 09 - 2020

Latin America is emerging as a green powerhouse, with some of the strongest renewable capacity growth expected globally in the coming years. With auctions already adopted throughout Latin America, Rystad Energy expects the region's 49 gigawatts (GW) of renewable capacity will skyrocket to 123 GW by 2025, with the biggest increases coming from Brazil, Mexico, Chile, Colombia and Argentina.
All five countries have held renewable energy auctions for years, generating a mammoth 50 GW pipeline for Brazil and a 40 GW pipeline for Mexico. With prices dropping to the mid-$20's per megawatt hour (MWh), and even as low as $18 per MWh in Brazil, auctions are likely to move forward in most countries despite pandemic-related delays. However, it should be noted that the future of Mexico's auction remains unclear after recent political tumult.
The low prices combined with great land availability have led to increasing competition, giving rise to a wave of mega projects. From 2018 onward, solar PV and wind assets with capacities in the range of 50 MW to 300 MW have dominated the market. We expect the popularity of mega capacity projects will continue, making up around 70% of wind and solar assets in the region by 2025.
"The proliferation of mega scale projects, and the relatively consistent auctions with little to no local content requirements make Latin America a good market for large European developers," said Minh Khoi Le, renewable energy analyst at Rystad Energy.
The majority of the top 10 companies with the largest renewable capacity in Latin America hail from Europe; Enel, Iberdrola, EDF and Engie especially, which are all among the top five. These companies have dominated auctions in Latin America, especially in Brazil, Mexico and Chile.
At present, the Villanueva solar PV site in Mexico, which is owned by Enel, is the largest solar farm in the region and boasts an impressive 828 MW of capacity. Yet Villanueva will soon be surpassed by Brazil's 1.3 GW solar PV farm in Minas Gerais, owned by Aurora Energias.
Brazil is also the home of multiple mega wind complexes, such as the 716 MW Ventos de Santa Angela (Lagoa dos Ventos) by Enel, and Engie's Campo Largo complex, which consists of Campo Largo 1 (326.7 MW), Campo Largo 2 (361.2 MW) and Umburanas (342.5 MW). — Rystad Energy


Clic here to read the story from its source.