Latin America sees triple digit clean energy investment growth

April 25, 2013 | By Barbara Vergetis Lundin

Total new investments in clean energy in non-Brazil Latin America rose 127 percent in 2012 compared to 2011 -- reaching $4.6 billion, according to Bloomberg New Energy Finance (BNEF). This growth reverses the first global decline in new clean energy investments last year, as the region became more active in renewable energy.

Globally, new investments in clean energy fell 11 percent from $302.32 billion in 2011 to $268.69 billion in 2012, according to BNEF. However, in Latin America four countries saw triple-digit investment growth in 2012 over 2011, including:

Mexico with investments of $1.9 billion -- up 595 percent
Chile with investments of $1 billion -- up 313 percent
Uruguay with investments of $105 million -- up 285 percent
Peru with investments of $643 million -- up 176 percent

The increased investments in Latin America was driven by increased activity by the Inter-American Development Bank, as well as European players, both project developers and manufacturers, becoming more active in the region, according to BNEF.

"As investments in clean energy declined in 2012 due to the ongoing financial crisis, the sector was actually growing in most of Latin America. This is a huge boon for clean energy finance and the region, which we expect to continue to grow," said Carlos St. James, president of the Latin American & Caribbean Council on Renewable Energy (LAC-CORE) and CEO of VOLA Investments. "The most exciting trend is that this has moved beyond Brazil, with other countries now seeing amazing growth and potential."

For more:
- see this video

http://www.fierceenergy.com/story/latin-america-sees-triple-digit-clean-energy-investment-growth/2013-04-25