Latin America races toward US$133bn clean energy goal

Renewable energy developers in Latin America plan to bring online 141GW of installed capacity by the end of the decade as the region ratchets up decarbonization efforts, according to BNamericas data. 

Some 543 renewable power generation projects, excluding hydropower, are expected to begin operating over the period, requiring combined capital expenditure of US$133bn. 

BNamericas' forecast tool shows 94 projects totaling 15,031MW with estimated capex of US$14bn are on track to enter service in the second half of 2025. 

In 2026, developers are seen bringing online 36,193MW spread among 185 projects with capex of US$31.6bn. Another 37,321MW (159 projects, US$40.4bn) are slated to be added in 2027, 18,299MW (68 projects, US$20.2bn) in 2028 and 33,749MW (37 projects, US$26.3bn) in 2029. 

The fourth quarter of 2026 is projected to register the sharpest rise in new capacity, with 100 developments seen coming online. It is followed by 4Q27 (73 projects) and 4Q25 (69 projects). 

Projects

In total, BNamericas is tracking 1,753 renewable energy projects – including those in operation – with estimated capex totaling US$590bn. Some 17 of these are in the early works stage, while 979 are in the planning phase and 135 under construction. Another 622 plants are in operation. 

The leading developers are Orygen Peru with 24 projects, Genneia (21 projects), Enel Green Power Chile (20 projects) and Engie Energía Chile (16 projects). 

Brazil has the most developments with 491, followed by Chile (375), Mexico (221), Argentina (156) and Peru (151). 

The biggest project, in capex terms, is Brazil's Green Energy Park Piauí, which is seen requiring US$35.2bn. Next is Chile's H2 Magallanes project, budgeted at US$16bn, Peru's Horizonte de Verano (US$12.8bn), Chile's HNH Energy (US$11bn) and Argentina's Pampas project (US$8.4bn).