According to a recent blog post from IBD Invest, Latin America and the Caribbean region is at the forefront of the renewable energy revolution and, with greater access to much-needed global capital, could become the world’s leading renewable energy hub, taking advantage of its natural resources such as ample sunlight and available land.

More than a quarter of primary energy in the region comes from renewables, twice the global average. From Costa Rica where renewable energy sources account for 99% of its electricity matrix to Brazil at 83%, countries small and large are increasingly powered by clean energy. In recent years, some countries have been taking action to diversify their national energy matrixes and increase the share of energy coming from non-conventional renewable energy (NCRE). IDB Invest has been supporting this clean energy transition in the region, examples remarked in the post include:

• IDB Invest helped to finance many of the Argentina’s RenovAR-awarded projects, starting with a $20 million investment in Achiras, one of the first wind parks in Argentina. IDB Invest worked with Achiras’ sponsor, Central Puerto, in the construction of a 99 MW wind farm and its related facilities, allocating $36 million

• IDB Invest also contributed $50 million to build and operate the PEBSA wind power park in Argentina, which has 126 MW in installed capacity

• IDB Invest provided $57 million in 2016 to finance Providencia Solar, the first commercial-scale solar power plant in El Salvador, operated by renewable energy leader Neoen. In 2021, IDB Invest stepped in with $4.4 million to finance a Battery Energy Storage System (BESS). IDB Invest also financed a BESS for Capella Solar, the country’s second-largest solar plant.