SolarPower Europe has launched the second edition of its Latin America: Solar Investment Opportunities report, revealing the potential for solar growth in Argentina, Brazil, Colombia, Mexico, and Peru.
Published at Intersolar South America 2025, the report was produced in collaboration with the Global Solar Council (GSC) and supported by national renewable energy associations.
The region is aiming to achieve 70% renewable electricity generation by 2030, in line with the Renewable Energy for Latin America and the Caribbean (RELAC) initiative.
With over a quarter of its primary energy already coming from renewables, Latin America is seen as a promising hub for international investment.
Katherine Poseidon, Head of Strategy, Analytics & Process at Voltalia and Chair of SolarPower Europe’s Global Markets Workstream, commented:
“Latin America’s strong solar resources can be an engine for regional growth. This report focuses on several major solar markets in the region, providing clear guidelines to investors alongside concrete recommendations for policymakers looking to tap into Latin America’s potential.”
Highlights
- Brazil continues to dominate regional deployment, adding 18.9GW of solar in 2024 alone.
- Argentina has reached 1.93GW by May 2025, with expectations to more than double capacity by 2029.
- Colombia added 1.6GW in 2024, supported by new regulations enabling decentralised solar and battery storage.
- Mexico has now reached a total capacity of 12.6GW, with distributed generation becoming a key driver of growth.
- Peru, meanwhile, is focusing on rural electrification and grid expansion to leverage its world-class solar resources.
However, common challenges persist. The report highlights infrastructure constraints, particularly in transmission networks, inconsistent regulatory implementation, and limited access to financing. Recommendations include improving permitting processes, harmonising regulations, and boosting the bankability of power purchase agreements (PPAs).
Sonia Dunlop, CEO of the GSC, said: “Investment is the key to transforming Latin America’s solar promise into progress. By unlocking capital through blended finance, risk-mitigation tools, and clearer market structures, we can scale solar where it’s needed most.”
Rodrigo Sauaia, CEO of ABSOLAR, added: “Latin America brings together extremely favourable conditions to accelerate the region’s sustainable energy transition. Countries like Brazil are showing positive signs in this direction, but there is still an important path ahead to consolidate solar power as a strategic driver of Latin American development.”
The report concludes that aligning national policies with global sustainability goals could unlock billions in clean energy investment, create jobs, and enhance energy security across the region.
