In a new report, the IEA said that it sees Latin America playing an increasingly important role in the global energy transition.
Latin America is poised to play an increasingly important role in the global transition to cleaner energy sources, the International Energy Agency IEA said on Wednesday in its first-ever energy outlook on the region. Latin America and the Caribbean region already lead in the energy transition, with hydropower, solar, wind, and biofuels having a large share in the energy mix in many of the 33 countries reviewed in the report.
Under the current policies, the share of renewables in Latin America’s electricity supply is expected to rise from just over 60% today to two-thirds in 2030 and 80% in 2050, the IEA says. The potential to produce low-emission fuels and significant resources of critical minerals make Latin America one of the key drivers of the global energy transition despite the fact that the region today represents only 8% of the global population and 7% of the global economy.
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