Banamericas
Latin America will likely double its installed wind power capacity by 2022, reaching a total 34.1GW, up from the current 17.9GW, while growth will be led by Argentina and Mexico, where projects awarded in recent auctions will come online.
The Global Wind Energy Council's (GWEC) predictions show that the region will add around 3.4GW this year, almost 1GW more than was added in 2017, as investments in the sector continue, and while a transformation is taking place as the power source becomes commercially viable, according to the council's most recent market report.
"What we are seeing across the globe is a transformation of markets for wind power away from the support schemes that gave birth to the industry, with wind taking its place as purely commercial technology, increasingly operating without subsidies or support mechanisms."
And while the GWC predicts a relatively flat market for 2018, a rapid return to growth is expected in 2019 and 2020.
To end-2017, Brazil led installed wind capacity in Latin America, with 12,763MW, followed by Mexico, with 4,005MW, and Chile and Uruguay, with 1,540MW and 1,505MW respectively.
