LatAm’s US$1tn energy boom: Projects in focus

Developers are lining up more than US$ 1.15 trillion (tn) in investments for energy projects in Latin America and the Caribbean, according to BNamericas data.

The figure includes US$ 12.0 billion (bn) for initiatives in the early works stage, spread among 1,301 projects, US$ 823.9bn for those in the planning phase (1,502 projects), and US$ 313.2bn for developments under construction (353 projects). The data corresponds to projects in both the electric power and oil and gas sectors.

In total, BNamericas is tracking 4,761 energy projects, including those already in operation, with combined estimated capital expenditure of US$ 1.56tn.

The electric power sector accounts for the largest share with US$ 1.02tn in committed investments across 2,717 projects. Oil and gas companies, meanwhile, have set aside US$ 724.1bn for 2,100 developments.

Around US$ 184bn of capex corresponds to projects that span both sectors.

Gas y Petróleo de Neuquén is the most prolific developer with 63 projects, followed by Mexico’s CFE (37), Brazil’s Petrobras (32) and Perupetro (30).

Brazil is home to the largest number of developments (1,721), followed by Chile (605), Mexico (576), Argentina (448) and Colombia (406).

According to BNamericas’ forecast tool, 139 of these projects are expected to begin commercial operations this quarter, followed by 310 in 2026, 300 in 2027, 167 in 2028 and 94 in 2029.

Leading projects

The largest project – among those yet to begin operations – is the Boaventura Energy Complex (Ex-Comperj) in Brazil’s Rio de Janeiro state, which is being built at a cost of US$ 48bn.

Under development by Brazil’s national oil company Petrobras, the initiative comprises six second-generation production units for petrochemicals, fuels and thermoplastic resins.

Next is Brazil’s Green Energy Park Piauí, which includes solar and green hydrogen components and is budgeted at US$ 35.1bn.

Other large developments include the Argentina LNG initiative (US$ 30bn), Mexico’s Olmeca refinery (US$ 20.2bn), Brazil’s Abreu e Lima refinery (US$ 18.3bn) and Chile’s H2 Magallanes green hydrogen complex (US$ 16bn).

(The original version of this content was written in English)