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Figure 5. Examples of specific RE-rich sites for electricity generation Estimated Site Specific Technical Potential: Mexico (Solar) 26; Wind On-shore (Brazil)27; Venezuela28; Argentina29; Mexico (Wind On-Shore)30; Brazil (Solid Wastes) 31; Brazil (Sugar Cane Co-generation) 32; Chile (Solar PV) 33; Peru 34; Central America 35; Mexico (Biomass) 36; Caribbean 37; Colombia 38; Chile (Marine)39 , and Brazil (Solar).40 Despite this small share of total investment, major new developments underway in NRETs in the region include: • Photovoltaic (PV). There has been a sharp increase in PV project development activity in the region, driven by dramatic cost reductions during the past few years. Multiple large-scale PV systems have been completed, or have started development, and some industry forecasts predict that over 2 GW could be installed across the region by 2016.41 • Concentrated solar power (CSP). The first CSP power plant in the region is under construction in Mexico, a hybrid solar/gas plant with a solar generating capacity of 14MW.42 In Chile, the government has released a competitive tender for CSP power, anticipated to be in the range of 50 to 100 MW, offering a public subsidy and access to concessional finance and grants.43 • Wind. Wind power generation costs have also fallen rapidly, and the entry of more efficient designs, and larger tower capacities have contributed to this cost reduction.44 Wind is the fastest growing NRET in the region. Cumulative installed capacity in Latin America reached 3.5 GW in 2012, an increase of 53% compared to the 2.3 GW45 installed in 2011. The majority of these additions came from Brazil, which installed more than 1 GW,46 and from Mexico, which added more than 800 MW in 2012. • Geothermal. Mexico is the world’s 5th largest producer of geothermal electricity with almost 1 GW of installed capacity. This country is now seeking to complement the utility’s activity with private sector projects, and has requested resources from the Clean Technology Fund.47 Central America has almost 500 MW of installed capacity in Costa Rica, El Salvador, Guatemala, Honduras, and Rethinking our energy future p. 10PDF Image | White Paper on Renewable Energy for the 3GFLAC
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