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Power demand in Latin America is set to grow in 2013. Over the last decade, Latin America electricity consumption per capita rose by 20%, and there is no sign that this pace will let up. Combined with high power prices, many countries in Latin America will continue to be seen as an attractive place to do business for developers of power projects. Respondents to the BNamericas 2013 Electric Power Survey showed, however, that even in the most welcoming climates, challenges are numerous, foremost among them local opposition to power projects. Renewable power also needs to play a greater role in Latin America, the survey showed, and regional integration has to advance to support energy security.
INCLUDED IN THIS MONTH' EDITION:
Nuclear power option dies down
Only 11% of survey respondents felt that nuclear power was needed to meet power demand over the next decade. Three countries in the region have nuclear power Brazil, Argentina and Mexico and Chile has studied the option, but the push for increased use of this power source has died down since Japans Fukushima disaster in 2011.
Energy source availability
Almost 70% of survey respondents said that the availability of energy sources was the competitive advantage of Latin American power. The region can call upon all the traditional power resources, and has abundant new energy resources.
New projects in the pipeline
We can expect to see new projects in 2013, according to over 80% of survey takers. Brazil in particular, which accounts for about 40% of the regions total power consumption, will see a busy year in 2013. Eletrobras has revealed plans to invest 13.7 billion reais (US$6.69 billion) in new projects in 2013, a 24.5% increase on the 11 billion reais invested in 2012.
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