Latin America presents its energy investment opportunities to the EU and China

This Friday, Latin America and the Caribbean presented to the European Union (EU) and China the opportunities that the region has for investment in energy, based on the multiple resources it has, at the VI Meeting of Energy Ministers of the Community of Latin American and Caribbean States (CELAC) that was held in the Honduran capital.

The meeting analyzed the challenges and opportunities for energy security in Latin America and the Caribbean, regional electrical interconnection and integration, and cooperation platforms in the energy field.

There is room to attract investment

The secretary general of the Latin American Energy Organization (OLADE), Andrés Rebolledo, told journalists that Latin America is rich in resources and that, in dialogue with Europe and China, ““It is an important contribution to indicate to them that there are investment opportunities here.”

He added that OLADE studies indicate that only in carbon and neutrality by the year 2050, 500 million dollars of investment in renewable sources and technologies would be required.

“Therefore, there is a space for collaboration that is conducive to bringing the financing and investment that our region requires.”, stressed Rebolledo.

He also pointed out that due to their coverage of technology in renewable sources, Europe and China, among other countries, are very important because they also execute “regulations that are very interesting and generate investment incentives”.

The VI Meeting of Energy Ministers of the Community of Latin American and Caribbean States was inaugurated by the Secretary of Energy of Honduras, Erick Tejada.

They highlight the importance of electrical interconnection

The senior Honduran official highlighted the importance of energy transitions in the American continent and that progress be made to the extent that its people need it, since “Energy production, distribution and consumption models must guarantee the reduction of emissions and improvement in people’s lives”.

At the meeting, topics were presented such as the challenges and opportunities for energy security in Latin America and the Caribbean, regional electrical interconnection and integration, and cooperation platforms in the energy field.

The executive secretary of OLADE also indicated that for this year, “95% of the generation projects that will come in will be renewable, which puts us in a panorama of clean energy growth with a view to energy transitions on our continent.”

Before the meeting, the XVII Council of Energy Ministers of the Central American Integration System (SICA) was held on Thursday, also in Tegucigalpa, in which five regional energy pacts were approved to articulate the different climate agendas, food security, transportation and biodiversity, promoted by SICA within the framework of the United Nations.

The approved pacts are universal access to electricity with network extensions and distributed generation systems; reducing the use of firewood and increasing the penetration of improved stoves; promotion of renewable energies and strengthening of renewable energies, geothermal, solar, wind technologies and the modern use of biomass, and improvement of energy efficiency through the Central American Technical Regulations (RTCA).

Both events were held within the framework of the pro tempore presidency of SICA and CELAC, led by Honduras, whose government is presided over by Xiomara Castro.