Latin America and Caribbean Poised for Rapid Renewable Energy Growth as Sector Gains Global Momentum

The inaugural Renewable Energy Finance Forum – Latin America & the Caribbean (REFF-LAC) hosted by the Latin American Council on Renewable Energy (LAC-CORE), the American Council On Renewable Energy (ACORE), and Euromoney Energy Events in Miami this week brought together more than 160 policy makers, industry executives and investors to discuss capitalizing on the rapidly growing renewable energy industry in the region.

“We are in a stronger market for renewable resources than ever before - and the market is not just New York or London, it is global,” said ACORE President Michael Eckhart. “The outlook for Latin America and the Caribbean within this global context is very positive. The region is presenting greater opportunities and fewer risks than in the past. It’s clear following the REFF-LAC conference that the global financial community is poised to capitalise on Latin America as the next viable market for renewable energy development.”

Bill Holmberg, CEO of LAC-CORE, echoed the importance of the region by highlighting President Obama’s Energy and Climate Partnership of the Americas (ECPA). “Advancing renewable energy throughout the Americas is LAC-CORE’s primary focus, and the ECPA provides the needed leadership and momentum to forge ahead,” explained Holmberg. “REFF-LAC was an important conference to bring the needed unity and focus on the Latin American renewable energy market that will generate the necessary capital for scale-up.”

Speakers from leading renewable energy companies, investment institutions and government organisations focused on moving quickly to capitalise on market opportunity and driving the renewable industry forward through policy, funding and commercialisation.

Pablo Reyes, board member, LAC-CORE, and Director of the Center of Strategic Studies for Latin America explained the organisation’s vision for the region: “We created the Latin American Council on Renewable Energy to extend what ACORE has accomplished in the United States to Latin America. Our main goal is to build the business case for investment in renewable energy development and to connect Latin America with global markets and opportunities to drive the growth of the sector.”