Data Insights: Latin America's US$20bn gas-fired power project pipeline

Energy developers are investing more than US$20bn in utility-scale gas-fired power projects across Latin America and the Caribbean, according to BNamericas data. 

Plans for 139 projects have been submitted to authorities, including 95 in the early development phase and 44 that are currently under construction. 

Overall capital expenditure required for the projects has been estimated at US$20.9bn. 

In addition, there are 166 gas-fired power plants already in operation following investments of US$52.9bn

Brazil has by far the largest share of total projects – including those already operating – with 102, followed by Mexico (70), Colombia (24), Chile (22) and Argentina (21).

Leading developers include Mexico's CFE with 18 projects followed by Brazilian firm Eneva and Venezuela's Corpoelec with nine each. 

According to BNamericas' Forecast tool, 13 projects with investments totaling US$6.79bn progressed to another stage of development in the fourth quarter of 2024 while eight involving US$2.72bn are expected to advance in the first quarter. 

Six others with projected investment of US$2.47bn are expected to move forward in the second and third quarters. 

Among the largest projects are the Dominican Republic's US$1.75bn, 840MW Manzanillo combined cycle plant, a joint venture between Shell and Energía de las Americas; Eneva and BP's Nossa Senhora de Fatima Brazil plant (US$903mn, 1,355MW); and the first stage of the Piratininga project under development by São Paulo energy and water company Emae (US$847mn, 1,737MW).