Data Insights: Latin America's early-stage renewable energy projects

Renewable energy developers are lining up investments of US$240bn in early-stage projects across Latin America and the Caribbean, according to BNamericas data. 

The pipeline, which does not include hydroelectric plants, comprises 7,869 projects, around 98% of which involve solar or wind power. 

Six of the largest projects, in terms of capital expenditure, have large green hydrogen components, with three of these located in Chile. 

The biggest is the H2 Magallanes complex in southern Chile, which is being developed by TotalEnergies at a cost of US$15bn. It envisages 800,000t/y of green hydrogen production and 10,000MW of wind generation capacity. 

Next is ASOE Chile Diez's HNH project, also in Chile's Magallanes region, which is slated for US$11bn in total investments. It comprises a green hydrogen production facility, a desalination plant, port infrastructure, an onshore wind farm and associated transmission lines. 

It is followed by Fortescue Future Industries' US$8.4bn Pampas project, featuring green hydrogen production, an onshore wind farm and a solar photovoltaic park in Argentina's Rio Negro province. 

TEG Chile's Gente Grande, another development in Magallanes, is ranked fourth with an estimated cost of US$8bn. It is on track to boast 1.5Mt (million tons) a year of green hydrogen output and 3,000MW of onshore wind capacity when it comes online in late 2028.

Others to appear near the top of the list are: H2helium's US$6.95bn Green Hydrogen hub in the northeastern Brazilian state of Ceará; Alcoholes del Uruguay's US$4bn Paysandú onshore wind, e-methanol and green hydrogen complex; and the US$3.43bn Ventos Potiguar offshore wind farm under development by Internacional Energias Renováveis in Rio Grande do Norte, northeastern Brazil. 

According to BNamericas' criteria, early-stage projects are those that have yet to begin construction or pre-construction. Usually, early-stage developments are engaged in licensing, tendering, scoping, appraisal, prospecting and feasibility studies.