Windpower Monthly rating 3.5/5
Our rating is based on a combination of project pipeline, political and policy support, investor confidence and structural readiness of the country in terms of grid infrastructure, permitting process and local supply chain.
Forecast of installed and operating wind power capacity based on the latest statisitics and measured against the Windpower Intelligence database.
The commissioning of Enel Green Power’s 132MW Wayra 1 wind farm in June 2018 increased the country’s wind power capacity by 54%.
But there has been little growth outside this project, partly due to over-supply from thermal and hydro sources, and the conservative attitude of the system operator, COES, to managing the variable output of renewables.
The 2017 round of competitive tenders for renewables was cancelled following the failure of a number of winning solar PV projects from the 2016 auction round to make progress.
Wind power is largely price-competitive, though. The successful bids in 2016 ranged from $36.84-$37.83/MWh.
The region came close to becoming a 10GW market at the end of last year, with Peru and Uruguay in particular achieving impressive rates of growth in their wind power capacity.
LATIN AMERICA: We detail the most up-to-date data for Latin America's installed and upcoming wind power capacity, country by country. Measured against our map of turbine production facilities shows a need for more factories or improvement in transport infrastructures.
Brazil and Mexico, long established as the leading players in the Latin American wind industry, firmly consolidated their supremacy over the past 12 months.
LATIN AMERICA: As Brazil leads, it seems to pull its southern neighbours along, as almost all wind-power associations and consulting services have identified the region as one with great potential to speed up the construction of wind projects in 2013, despite political and macroeconomic uncertainties.
PERU: Enel Green Power has commissioned the country's largest wind farm, the 132MW Wayra I project.
PERU: Italian developer Enel Green Power (EGP) is set to become the leading player in Peru's nascent renewable sector after dominating the recent tender.
PERU: The Peruvian government sees only a limited role for wind power over the next decade, according to a document published this month by the Ministry of Energy and Mines.
PERU: ContourGlobal, a US power generation operator and developer, has completed two wind projects totalling 114MW in northern Peru, more than tripling the country's existing online wind capacity.
PERU: The Export-Import Bank of the United States (Ex-Im Bank) has loaned $65 million to Siemens Energy for the delivery of turbines to two projects in Peru, with a total capacity of 129MW.