Latin America could lead the way on green power 

By Ana Lankes

For centuries Latin America has been dogged by the resource curse. Its abundant natural resources have never translated into a lasting, society-wide ascent into broader prosperity. Many are hoping this will change with the global transition to clean energy. The region holds more than half the world’s lithium, used in electric-vehicle batteries; produces over a third of its copper, for electrical wiring; and churns out more than half its silver, crucial for solar panels. It is also home to around half of the world’s biodiversity and a quarter of its forests. In the coming years, regional leaders hope that Latin America can take off as a green power.

Its resources are not just material. Thanks to ample wind and sun, and strong rivers, more than a quarter of its primary energy currently comes from renewable sources, twice the global average. According to the Global Energy Monitor, a San Francisco-based charity, 320 gigawatts of solar- and wind-power projects are expected to come online by 2030, an increase of 460% over existing solar and wind capacity. The infrastructure to transmit this energy is expanding, too. In 2024 Brazil will auction transmission lines which, together with two auctions in 2023, could bring in as much as $14bn.