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Brazil and Latin America lead the energy transition with 60% green energy, facing financing and regulatory challenges.
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The concept of green energy has been gaining increasing prominence on the international stage. Latin America, led by Brazil, is at the forefront of this transition, with 60% of its electricity coming from renewable sources. This region is recognized for having one of the most sustainable energy structures in the world. However, despite this remarkable progress, it still faces substantial challenges in terms of financing and regulation, which need to be overcome to ensure a sustainable more promising future.
In the current scenario, the expansion of the use of green energy is essential for the sustainability of our environment. This transition, in addition to reducing carbon emissions, promotes the development of counteracting technologies that generate energy in a cleaner and more economical way. However, for the sustainable energy becomes a consolidated reality, political and social support is essential, aiming to reduce regulatory barriers and encourage significant investments. This is an opportunity to leverage both economic growth and preserve our planet for future generations.
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Transformation in the Energy Matrix: Brazil's Protagonism
Projects indicate that Latin America, especially Brazil, is on its way to consolidating itself as a leader in the global decarbonization movement. A recent study, entitled 'Green Energy in Latin America' and conducted by Broadminded, in partnership with the renowned communications agency Sherlock Communications, reveals the solid prospects for the region. The study brings together data and analyses from experts in various disciplines, highlighting the promising advance of green energy. According to information from the International Energy Agency, it is a fact that 60% of Latin American electricity comes from renewable energy, which makes the region one of the most sustainable electricity networks in the world. Among the countries leading this energy transition, Chile, Mexico and especially Brazil stand out, with the latter being responsible for 58% of the increase in Latin America's renewable energy capacity by 2030.
Increase in Clean Energy Production
Although many countries maintain an energy matrix based on hydroelectricity, Latin America continues to progress in the diversification of clean energy sources, privileging the wind power and solar. In Brazil, the installed capacity of wind energy has tripled in the last ten years, currently reaching 95 GWh, according to data from Ember. This significant growth was favored by massive investments in strategic projects in the northeastern regions, whose conditions are extremely suitable for wind generation. Additionally, legislation has advanced, facilitating the expansion of renewable energy production, with emphasis on the Hydrogen Law, which released R$18,3 billion for the development of green hydrogen, crucial to decarbonize industries varied. The use of green hydrogen will benefit from wind energy and other renewable sources, according to Elbia Gannoum, CEO of ABEEólica, who sees green hydrogen as an essential element for Brazil's future energy strategy. In the Chilean scenario, advances are also notable, with a growth of more than 1.300% in solar capacity, especially due to the potential of the Atacama Desert.
Solar Energy Investments and Export Opportunities
As W. Schreiner Parker, managing director for Latin America at Rystad Energy, says, countries are investing in solar and wind energy not only to secure their own supply, but also for opportunities such as the export of green hydrogen. Latin America, especially Brazil and Chile, is expected to emerge as a significant exporter of this vital source of green energy. However, success in this forum depends on effectively navigating the complexities of the regulations. financing adequate and balanced management between traditional fossil fuel revenues and emerging opportunities in green energy exports.
Facing Challenges: Infrastructure and Political Instability
Although Latin America aspires to establish itself as a leader in energy transition Globally, structural challenges remain on the horizon. According to experts in the study, issues such as financing infrastructure for energy transmission and storage are crucial. Without adequate financial support, the sector’s growth could face severe barriers, warns Alejandro Castañeda, president of the National Association of Generating Companies of Colombia. He notes that clean energy projects are often halted due to lack of investment, resulting in potential energy crises in Colombia between 2027 and 2028. Economic and political stability play a crucial role in the advancement of green energy, especially in nations such as Argentina and Peru, where confidence is vital to attract consistent investment.
The Widespread Adoption of Green Energy as a Sustainable Solution
The importance of overcoming these challenges is paramount if the region is to maintain its leading role in the transition towards a more sustainable and resilient future. As Patrick O'Neill, Managing Partner at Sherlock Communications, points out, continued work on this front is essential. For the full report on Green Energy in Latin America, visit the Sherlock Communications website. This initiative is part of the commitment of Sherlock Communications, an award-winning digital marketing and communications agency based in São Paulo, which also operates in several Latin American capitals. Known for its ability to connect companies to cultural and commercial gaps within the region and internationally, the agency has been significantly recognized with honorary placements in the PRWeek Global Awards and the Holmes Report Creativity Index.
Source: SHERLOOK COMMUNICATIONS
