Latin America installs 181MW PV in Q3, record 1.4GW forecast for Q4

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
GTM expects record installations in Q4. Credit: GTM

The Latin America region saw 181MW of utility-scale solar PV projects come online in Q3 2015, down 50% from the historic 363MW of installations in Q2, but still helping the market's ability to strengthen growth and move towards maturity in 2016, according to GTM Research’s ‘Latin America Q3 Playbook’.

Furthermore GTM has forecast that Q4 will be the largest in the region’s history with a surge of 1.4GW installed.

In Q3, 1.45GW of projects were announced bringing the total Latin America project pipeline to 38.5GW. A further 74MW of PV entered the construction phase in the same period.

Project Database Summary, Q3 2015. Credit: GTM

Mohit Anand, senior analyst, solar markets at GTM and author of the report, said: “The Latin American market as a whole represents a huge opportunity for PV. However, the complexities of local markets, financing and regulatory hurdles, and policy risk have all played a role in preventing solar development in the region from reaching its true potential to date.”

GTM also identified Honduras, Chile, Guatemala and Brazil as key markets in Q3.

The leading PV developers were SunEdison with the most operational capacity at 318MW and Enel Green Power, which has 534MW contracted or under construction.

Another GTM statement said: “Latin America is the global frontier for unsubsidized solar markets. With high insolation levels and growing demand, it is positioned to be one of the most attractive regions on the planet for solar development.”

Read Next

July 27, 2021
Canadian Solar has closed a BRL500 million (US$100 million) financing facility to develop a Brazilian solar portfolio claimed to be the country’s largest, while also giving it the option to hold built solar assets for longer.
July 26, 2021
A solar-wind-energy storage hybrid project is to power a Madagascan mine after Rio Tinto signed a power purchase agreement with independent power producer CrossBoundary Energy.
July 20, 2021
Chilean developer Mainstream Renewable Power today announced plans for a new renewable energy platform in Chile with over 1GW of capacity
July 7, 2021
Power generation and distribution company AES has signed an agreement with the Chilean government to close 1.1GW of its coal power generation in the country as soon as 2025.
July 2, 2021
Renewables developer Mainstream Renewable Power has achieved financial close for a solar and wind platform in Chile consisting of ten projects with a total capacity of 1.35GW.
July 1, 2021
Engie has been awarded rights to develop two hybrid projects in Chile that will combine solar, wind and battery storage and have a combined capacity of 1.5GW.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
August 19, 2021
At 9am (PT) | 6pm (CEST)
Solar Media Events
August 25, 2021
Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021