As energy markets recovered from the slump caused by the pandemic, Latin America’s wind and solar energy additions increased by 50% in 2021, according to a new report released by Bloomberg New Energy Finance (BNEF).
Furthermore, the trend is likely to continue as governments in the region prepare to organize new renewable project tenders to help them reach their clean energy targets.
The report, titled “Latin America Market Outlook”, examined the region’s renewable energy development and found that the region has added 17.5 GW of wind and solar photovoltaic (PV) energy capacity in 2021. The two renewable technologies contributed more than 10% of power generated in Argentina, Mexico, Brazil, and Chile.
