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

Facebook
Twitter
LinkedIn
Reddit
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

August 17, 2022
Nextracker is opening a solar tracker research and development (R&D) facility in Brazil through a partnership with non-profit organisation Flex Instituto de Tecnologia.
PV Tech Premium
August 10, 2022
PV Tech Premium looks at the main drivers that drove solar PV in Chile in the last years and has risen as one of the leaders in the region.
August 9, 2022
Investment firm Exus has acquired 100% of the shares of Riacho da Serra Energia, and the project-related assets, from Decal Renewables and Upside Value.
August 8, 2022
Renewables owner and operator Brookfield Renewable has recorded a strong second quarter and has deployed more than US$3 billion.
August 8, 2022
Despite an initial selection of 15 bidders, Chile’s latest power auction awarded only two companies contracts, with 777GWh of solar PV co-located with energy storage and wind secured.
July 29, 2022
Renewables developer Mytilineos has seen its profits soar to €166 million in H1 2021, with renewables sales nearly doubling.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
September 7, 2022
15:30 AEST (UTC +10)
Solar Media Events
September 14, 2022
London
Solar Media Events
October 4, 2022
New York, USA
Solar Media Events
October 11, 2022
Virtual event