Chile, Mexico, and Argentina leading the way in renewable energy

These three Latin-American nations are paving the way for a better world

Mexico renewable energy

What do Chile, Mexico, and Argentina have in common besides being Latin American countries? They are all working towards renewable energy sources. These three nations are the leading example for this entire region and these governments are paving the way for a greener and more sustainable world.

Chile’s ambitious plan

Chile’s working on a renewable energy plan that has as a clear objective. By 2050, 70% of their energy sources should come from some sort of sustainable form. They seek to be the leader in the consumerism of these upcoming types of green electricity.

The ambitious decision of the Chilean Government was triggered by the 2007 crisis that affected Argentina. The South American country cut off its gas demand in the search to guarantee its own without dependency. This left Chile with no other option but to start looking for other sources of energy and, in 2008, they introduced a new legislation that looked to promote wind, solar, biomass, and geothermal energy.

Despite the efforts done by Chileans, they’ve seem to be facing some barriers that could hinder their progress. It is a necessity that their green sources, such as solar and wind, can supply electricity at any time rather than just when these two resources are available.

Mexico reforms their energy sector

In 2014, the Mexican government presented a reform towards the energy sector that looked to finish the monopoly of Pemex (oil and gas) and CFE (electric), both companies of the State. The reform mainly wanted to increase private investment.

Last December, the company IENova from the Sempra Group bought the largest wind farm in Mexico for about $900 million.

Mexico’s renewable market is largely influenced by the climate change legislation published 5 years ago; it has the goal of achieving 35% of the electricity generated by other forms of energy, such as solar, by 2024 and increase its production by 50% by 2050.

Argentina and private investment on renewable energy market

The Government of Mauricio Macri, President of Argentina, looks to make 20% of all energy consumption come from renewable sources; he intends to do this by 2025. To attain the objective, they recently obtained $480 million from the World Bank for an investment that promotes the private venture on renewable energy in the South American country.

According to the World Bank, this investment is crucial for climate change.

The rest of Latin America
Other countries such as Brazil, Venezuela, and Colombia have been looking at these efforts from a different point of view because these countries have been focusing on other issues. Venezuela and Brazil are passing through a political crisis and Colombia is trying to implement a peace treaty with the Farc guerrilla while also trying to achieve an agreement with another rebellious force, the ELN.

LatinAmerican Post | Alejandro Duarte
Copy edited by Susana Cicchetto