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Overall, more than 25% of Latin America’s green energy comes from renewable sources, which is more than double the global average.
We have recently expanded to Chile, in line with the country’s strong renewable energy agenda. The country is making good progress in the green hydrogen market and Hive are introducing a Country Manager to Chile to actively support the adoption of the innovative green technology. Currently, there are $10Bn of projects under construction across the Country, including generation plants, and green hydrogen developments. In 2021 the Chilean market grew in capacity by 4 GW, with a total renewable energy capability of 11.4 GW today. Chile has plans to replace all thermopower plants with renewable alternatives, this subject is due to be discussed in congress where positive support from the political spectrum is anticipated. If the plans are approved, there will be close to 13 GW of thermo plants that will require supplementation with green energy.
Our journey into the Latin America green energy market began in 2015 when we undertook a project in Mexico. This was followed shortly by the recruitment of Horacio, as Argentinian Country Manager. As well as Argentina, we are functioning in Brazil, Chile, Cuba, Uruguay, and Mexico. So far, we have one complete project in Cuba, with an additional 10+ renewable energy projects in our pipeline. The technologies we are focusing on across LATAM are a variety of solar, wind, and green hydrogen.
Horacio is the Country Manager for Hive Argentina, but he also manages our green energy pipeline in Mexico and Uruguay, which currently consists of solar power projects.
Italo is our Chile Country Manager. His focus is to develop projects within the solar and hydrogen markets, and investigate opportunities in the wider renewable market.