NEW YORK--()--Latin America is poised to be the next region of the world to embrace clean energy in a significant way with major new investment to flow there in the next several years, global clean energy and research data provider Bloomberg New Energy Finance predicts in a new report. Political stability and economic growth coupled with growing concerns over energy security and climate change have created the right conditions. With new policies supporting renewables and biofuels on the books or on the way in Argentina, Brazil, Chile, Colombia, Peru, and in other nations, investment is likely to follow.
"Latin America is ready for take-off," said Camila Ramos who heads Bloomberg New Energy Finance's research efforts in the region. "While economies here slowed during the recession, there remains a fundamental under-supply of electricity capacity that needs to be met and most countries are looking to become less reliant on foreign oil and natural gas from Venezuela, Bolivia, or elsewhere. We're seeing unprecedented commitment to the sector in the form of state-run auctions for new power generation and other state mandates. Those should result in higher investment levels in coming years."
Bloomberg New Energy Finance's Latin America Clean Energy Market Outlook H1 2010 offers in-depth research and analysis of how the latest investment, policy, and technology trends in Argentina, Brazil, Chile, Colombia and Peru pertain to renewables and biofuels. The report notes that political stability and recent economic growth have combined to create an unprecedented demand for energy across Latin America. Since 2005 when investment was $2.9bn, investment surged to $18.1bn in 2008. The region saw a pull-back in 2009 to $16bn due to the recession but is now poised to get back on track. With exceptional natural resources, stable governments and supportive policies in the region, Bloomberg New Energy Finance projects Latin American clean energy investment will continue to grow with wind attracting particular attention.
Other key findings include:
To receive a copy of the Outlook report, please contact:
Ethan Zindler, Head of North American Research, Bloomberg New Energy Finance
Tel: +1 202 654 1276; firstname.lastname@example.org
Camila Ramos, Manager Brazil, Bloomberg New Energy Finance
Tel: +55 11 3017 4930
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