Latin America already boasts one of the cleanest and, simultaneously, most diversified energy models in the world. With a high share of renewable generation, the region holds significant oil and gas resources and also has a critically important mineral base, Fitzgerald Cantero Piali, Director of Studies, Projects and Information in the Latin American and Caribbean Energy Organization (OLACDE), said at Regional to Global, an international conference held in Quito.
“Our region is important not only in terms of energy production. Latin America and the Caribbean have a very strong resource base. These are energy resources, raw materials, and minerals that are in great demand globally today due to the energy transition. We have countries with a high share of renewable generation, oil-producing countries, and countries with gas reserves. Speaking about critical minerals, such as lithium, more than 50% of the world’s reserves are concentrated in our region, and this is an essential element for the transition.”
According to Fitzgerald Cantero, in 2025, renewable energy sources in the region’s power generation mix accounted for 67%, and, by mid-century, this figure may rise to 76%.
“We are seeing an increase in the share of renewable energy: 53% in 2005, 67% last year. . . By 2050, renewable energy in the region’s energy mix might reach 76%. However, today, for example, we are only using about 30% of our wind capacity, meaning the growth potential remains very high for both wind and solar generation. We have worked hard on energy supply, but we also need to work harder on demand – proposing new policies to shift demand increasingly toward electric power. It’s also important to bear in mind that there are sectors that are difficult or impossible to electrify directly. Here, solutions related to green hydrogen, biofuels, and other areas are coming to the forefront, and they could play an important part in the region’s industrial development.”
OLACDE’s Director of Studies, Projects and Information spoke at a panel discussion on the challenges of the energy transition, and Latin America’s potential and prospects in that process. The discussion was moderated by Sergey Brilev, President of the Global Energy Association.
