Latin American markets are a subject of intense interest from the global wind industry. Wind plant construction across Latin America is modest compared to the more established markets like the United States, Europe, and China, but it is an emerging market that is taking off at a rapid pace. The region has become the hottest alternative growth market for the wind energy industry at a time when growth rates in other markets are flat due to a variety of policy and macroeconomic challenges.
Globalization is driving sustainable economic growth in most Latin American countries, resulting in greater energy demand. Wind is increasingly viewed as a valuable and essential answer to increasing electricity generation across most markets in Latin America. Strong wind resources, coupled with today’s sophisticated wind turbines, are providing cost-effective generation that is competitive with fossil fuel generation. Most Latin American countries also rely heavily on hydroelectricity, which balances well with variable wind generation. Navigant Research forecasts that if most wind plants under construction with planned commissioning go online as scheduled, annual wind power installations in Latin America will grow from nearly 2.2 GW in 2013 to 4.3 GW by 2022.
This Navigant Research report provides a comprehensive view of the wind energy market dynamics at play in Latin America. It offers a country-by-country analysis, outlining the key energy policies and development opportunities and barriers and identifying which companies own operational wind plants and which wind turbine vendors supplied those projects. Market forecasts for wind power installations, capacity, and market share in Latin America, segmented by country and company, extend through 2022. The report also offers an especially close analysis of Brazil and Mexico, the region’s largest wind markets, and examines the emerging supply chain and subcomponent manufacturers.
Key Questions Addressed:
- What are the top country markets for wind energy in Latin America and why?
- How much wind capacity is installed in Latin America?
- Which companies own the installed wind capacity and which wind turbine vendors supplied the turbines?
- What does the future hold for both the companies owning wind plants and the turbine vendors?
- What are the wind energy market dynamics in each Latin American country?
- What is the outlook for overall wind energy development in Latin America?
- How will macroeconomic factors, specific policies, and new contracts for power or turbines sales affect wind development?
Who needs this report?
- Wind turbine OEMs
- Wind turbine component, subcomponent, and materials manufacturers
- Wind project developers, owners, and operators
- Professional service providers
- Policymakers and regulators
- Government agencies
- Investor community
Table of Contents
Preface
1. Executive Summary
1.1 All Eyes on Latin America
1.2 Wind Power Market Highlights by Country
1.2.1 Brazil
1.2.2 Mexico
1.2.3 Other Countries
1.3 Strong Growth Moving Forward
2. Latin America Overview
2.1.1 Current Utility System and Electricity Market Structure
2.1.2 Historical Wind Power Development in Latin America
2.1.3 Wind Power Capacity Installed in Latin America in 2012
2.1.4 Global Lessons for Tender Mechanism across Latin America
2.1.5 Brazil as a Manufacturing Hub for Latin America
2.1.6 Latin America Relief Valve for Underutilized U.S. Wind Turbine Manufacturing Capacity
2.1.7 Latin America Wind Turbine OEM Market Shares
3. Latin America Wind Market by Country: Tier One Countries
3.1 Brazil
3.1.1 Wind Market Overview
3.1.1.1 General Introduction and Wind Market Fundamentals
3.1.1.2 Current Utility System and Electricity Market Structure
3.1.1.2.1. Generation Overview and Electricity Generation Share by Source
3.1.1.3 Wind Resources
3.1.1.4 Historical Wind Power Development
3.1.2 Wind Market Structure
3.1.2.1 Policy, Regulation, and Incentives for Wind Power
3.1.2.2 PROINFA Wind Incentive Program
3.1.2.3 Brazil’s Competitive Bidding Wind Auctions
3.1.2.4 BNDES Local Content Regulations and Wind Development Dynamics
3.1.2.4.1. BNDES Local Content Requirements in Detail
3.1.2.4.2. Impact of BNDES Local Content Regulations on Turbine OEMs
3.1.3 Brazil Wind Turbine Suppliers
3.1.3.1 Existing Nacelle Facilities
3.1.3.2 Planned Nacelle Facilities
3.1.3.3 Standalone Hub Manufacturing
3.1.4 Brazil Local Wind Supply Chain
3.1.4.1 Local Wind Supply Chain for Key Components
3.1.4.1.1. Blades
3.1.4.1.2. Towers
3.1.4.1.3. Other Major Components
3.1.4.1.4. Key Materials
3.1.5 Brazil Wind Project Development and Ownership
3.1.5.1 Current Market Conditions for Wind Project Development
3.1.5.2 Transmission and Grid Access Challenges
3.1.5.3 Evolving Transmission Regulations and Strategies
3.1.5.4 Brazil’s Open Power Markets
3.2 Mexico
3.2.1 Wind Market Overview
3.2.1.1 General Introduction and Wind Market Fundamentals
3.2.1.2 Current Utility System and Electricity Market Structure
3.2.1.3 Wind Resources
3.2.1.4 Historical Wind Power Development and Current Penetration Rate
3.2.2 Wind Market Structure
3.2.2.1 Policy, Regulation, and Incentives for Wind Power
3.2.2.1.1. Self-Supply Scheme (autoabastecimiento)
3.2.2.1.2. Accelerated Depreciation Tax Policy
3.2.2.1.3. Transmission
3.2.2.1.4. Import Duties
3.2.2.1.5. Clean Development Mechanism
3.2.2.1.6. Renewable Energy Target and Climate Change Legislation
3.2.2.2 Government Agencies and Associations (Incl. Functions)
3.2.3 Mexico Wind Turbine Suppliers
3.2.3.1 Wind Turbine OEMs Market Share in Mexico
3.2.4 Mexico Local Wind Supply Chain
3.2.4.1 Overview of Mexico Local Wind Supply Chain
3.2.4.2 Local Wind Supply Chain for Key Components and Materials
3.2.4.2.1. Blades
3.2.4.2.2. Generators
3.2.4.2.3. Towers
3.2.4.2.4. Transformers
3.2.4.2.5. Bearings and Forgings
3.2.4.2.6. Blade Materials
3.2.5 Mexico Wind Project Development and Ownership
3.2.5.1 Top Wind Project Developer and Owners
3.2.5.2 Development Conflicts in Oaxaca
3.2.5.3 State-Owned Utilities Purchasing or Owning Wind Power
4. Latin America Wind Market by Country: Tier Two Countries
4.1 Argentina
4.1.1 Wind Market Overview
4.1.1.1 General Energy Structure
4.1.1.2 Current Utility System and Electricity Market Structure
4.1.1.3 Wind Resources
4.1.1.4 Historical Wind Power Development
4.1.2 Wind Market Structure
4.1.2.1 Policy, Regulation, and Incentives for Wind Power
4.1.2.2 GENREN
4.1.2.3 Summary of Current Political Investment Environment for Wind Power
4.1.3 Wind Market Development Overview
4.1.3.1 Key Investment Decisions and Top Development Challenges
4.1.3.2 Grid Connection and Transmission Overview
4.1.3.3 Top Wind Developers and Ownership Structure
4.1.4 Supply Chain Overview
4.1.4.1 Local Production of Components
4.2 Chile
4.2.1 Chile Wind Market Overview
4.2.1.1 General Energy Structure
4.2.1.2 Current Utility System and Electricity Market Structure
4.2.1.3 Wind Resources
4.2.1.4 Historical Wind Power Development
4.2.2 Wind Market Structure
4.2.2.1 Policy, Regulation, and Incentives for Wind Power
4.2.2.2 Chile Land-Use Wind Tenders
4.2.2.3 Summary of Current Political Investment Environment for Wind Power
4.2.3 Wind Market Development Overview
4.2.3.1 Key Investment Decisions
4.2.3.2 Top Development Challenges
4.2.3.3 Grid Connection and Transmission Overview
4.2.3.4 Transmission Improvement Schemes
4.2.3.5 Utility Corridors
4.2.3.6 Top Wind Developers and Ownership Structure
4.2.4 Supply Chain Overview
4.3 Costa Rica
4.3.1 Wind Market Overview
4.3.1.1 General Energy Structure
4.3.1.2 Current Utility System and Electricity Market Structure
4.3.1.3 Wind Resources
4.3.1.4 Historical Wind Power Development
4.3.2 Wind Market Structure
4.3.2.1 Policy, Regulation, and Incentives for Wind Power
4.3.2.2 Government Wind Tenders
4.3.3 Wind Market Development Overview
4.3.3.1 Key Investment Decisions and Development Challenges
4.3.3.2 Grid Connection and Transmission Overview
4.3.3.3 Top Wind Developers and Ownership Structure
4.3.4 Supply Chain Overview
4.4 Peru
4.4.1 Wind Market Overview
4.4.1.1 General Energy Mix
4.4.1.2 Current Utility System and Electricity Market Structure
4.4.1.3 Wind Resources
4.4.1.4 Historical Wind Power Development
4.4.2 Wind Market Structure
4.4.2.1 Policy, Regulation, and Incentives for Wind Power
4.4.2.1.1. Renewable Energy Law
4.4.2.2 Renewable Energy Contract Auctions
4.4.3 Wind Market Development Overview
4.4.3.1 Key Investment Decisions and Top Development Challenges
4.4.3.2 Grid Connection and Transmission Overview
4.4.3.3 Top Wind Developers and Ownership Structure
4.4.4 Overview of Wind Turbine Market and Local Supply Chain
4.5 Uruguay
4.5.1 Wind Market Overview
4.5.1.1 General Energy Mix
4.5.1.2 Current Utility System and Electricity Market Structure
4.5.1.3 Wind Resources
4.5.1.4 Historical Wind Power Development
4.5.2 Wind Market Structure
4.5.2.1 Policy, Regulation, and Incentives for Wind Power
4.5.2.2 Uruguay Wind Plant Tenders
4.5.3 Wind Market Development Overview
4.5.3.1 Top Development Challenges and Key Investment Decisions
4.5.3.1.1. Bonus PPA Payments Force a Rush on Project Completion with Limited Infrastructure
4.5.3.1.2. Low Auction PPA Prices in Later Rounds
4.5.3.1.3. Limited Market Potential Beyond Presently Awarded Contracts
4.5.3.2 Grid Connection and Transmission Overview
4.5.3.3 Top Wind Developers and Ownership Structure
4.5.4 Supply Chain Overview
4.5.4.1 Overview of Wind Turbine Market
4.5.4.2 Other Local Production
4.6 Venezuela
4.6.1 Wind Market Overview
4.6.1.1 General Energy Matrix by Source
4.6.1.2 Current Utility System and Electricity Market Structure
4.6.1.3 Wind Resources
4.6.1.4 Historical Wind Power Development
4.6.2 Wind Market Structure
4.6.2.1 Policy, Regulation, and Incentives for Wind Power
4.6.2.2 Summary of Current Political Investment Environment for Wind Power
4.6.3 Wind Market Development Overview
4.6.3.1 Key Investment Decisions and Top Development Challenges
4.6.3.2 Grid Connection and Transmission Overview
4.6.3.3 Top Wind Developers and Ownership Structure
4.6.4 Overview of Wind Turbine Market and Local Supply Chain
5. Latin America Wind Market by Country: Tier Three Countries
5.1 Cuba
5.1.1 Wind Market Overview
5.1.2 Wind Market Structure: Policy and Regulation
5.1.3 Wind Power Development Dynamics
5.1.3.1 Wind Plant Ownership
5.1.3.2 Development Drivers
5.1.3.3 Development Challenges
5.1.4 Supply Chain Dynamics
5.2 Dominican Republic
5.2.1 Wind Market Overview
5.2.2 Wind Market Structure: Policy and Regulation
5.2.3 Wind Power Development Dynamics
5.2.3.1 Wind Plant Ownership
5.2.3.2 Development Drivers
5.2.3.3 Development Challenges
5.2.4 Supply Chain Dynamics
5.3 Ecuador
5.3.1 Wind Market Overview
5.3.2 Wind Market Structure: Policy and Regulation
5.3.3 Wind Power Development Dynamics
5.3.3.1 Wind Plant Ownership
5.3.3.2 Development Drivers
5.3.3.3 Development Challenges
5.3.4 Supply Chain Dynamics
5.4 Honduras
5.4.1 Wind Market Overview
5.4.2 Wind Market Structure: Policy and Regulation
5.4.3 Wind Power Development Dynamics
5.4.4 Wind Plant Ownership
5.4.4.1 Development Drivers
5.4.4.2 Development Challenges
5.4.5 Supply Chain Dynamics
5.5 Nicaragua
5.5.1 Wind Market Overview
5.5.2 Wind Market Structure: Policy and Regulation
5.5.3 Wind Power Development Dynamics
5.5.3.1 Wind Plant Ownership
5.5.3.2 Development Drivers
5.5.3.3 Development Challenges
5.5.4 Supply Chain Dynamics
5.6 Panama
5.6.1 Wind Market Overview
5.6.2 Wind Market Structure: Policy and Regulation
5.6.3 Wind Power Development Dynamics
5.6.3.1 Wind Plant Ownership
5.6.3.2 Development Drivers
5.6.3.3 Development Challenges
5.6.4 Supply Chain Dynamics
5.7 Puerto Rico
5.7.1 Wind Market Overview
5.7.2 Wind Market Structure: Policy and Regulation
5.7.3 Wind Power Development Dynamics
5.7.3.1 Wind Plant Ownership
5.7.3.2 Development Drivers
5.7.3.3 Development Challenges
5.7.4 Supply Chain Dynamics
5.8 Other Latin America Countries
6. Latin America Wind Market Forecasts: 2013-2022
6.1 Overview
6.2 Brazil Wind Market Forecast
6.2.1 Brazil Wind Market Summary
6.2.2 Brazil Wind Market Drivers
6.2.3 Brazil Wind Market Barriers
6.3 Mexico Wind Market Forecast
6.3.1 Mexico Wind Market Summary
6.3.2 Mexico Wind Market Drivers
6.3.3 Mexico Wind Market Barriers
6.4 Argentina Wind Market Forecast
6.4.1 Argentina Wind Market Summary
6.5 Chile Wind Market Forecast
6.5.1 Chile Wind Market Summary
6.6 Costa Rica Wind Market Forecast
6.6.1 Costa Rica Wind Market Summary
6.7 Peru Wind Market Forecast
6.7.1 Peru Wind Market Summary
6.8 Uruguay Wind Market Forecast
6.8.1 Uruguay Wind Market Summary
6.9 Venezuela Wind Market Forecast
6.9.1 Venezuela Wind Market Summary
6.10 Cuba Wind Market Forecast
6.10.1 Cuba Wind Market Summary
6.11 Dominican Republic Wind Market Forecast
6.11.1 Dominican Republic Wind Market Summary
6.12 Ecuador Wind Market Forecast
6.12.1 Ecuador Wind Market Summary
6.13 Honduras Wind Market Forecast
6.13.1 Honduras Wind Market Summary
6.14 Nicaragua Wind Market Forecast
6.14.1 Nicaragua Wind Market Summary
6.15 Panama Wind Market Forecast
6.15.1 Panama Wind Market Summary
6.16 Puerto Rico Wind Market Forecast
6.16.1 Puerto Rico Wind Market Summary
7. Wind Turbine Company Profiles
7.1 Company Profile: Acciona
7.1.1 Acciona Company Summary
7.2 Company Profile: Alstom
7.2.1 Alstom Company Summary
7.3 Company Profile: Enercon Wobben
7.3.1 Enercon Wobben Company Summary
7.4 Company Profile: Gamesa
7.4.1 Gamesa Company Summary
7.5 Company Profile: GE Energy
7.5.1 GE Energy Company Summary
7.6 Company Profile: Goldwind
7.6.1 Goldwind Company Summary
7.7 Company Profile: IMPSA
7.7.1 IMPSA Company Summary
7.8 Company Profile: Nordex
7.8.1 Nordex Company Summary
7.9 Company Profile: Siemens
7.9.1 Siemens Company Summary
7.10 Company Profile: Suzlon
7.10.1 Suzlon Company Summary
7.11 Company Profile: Vestas
7.11.1 Vestas Company Summary
8. Wind Plant Owners and Wind Capacity by Country
9. Acronym and Abbreviation List
10. Table of Contents
11. List of Charts and Tables
List of Charts
- Annual Wind Power Installations by Country, Latin America: 2013-2022
- Cumulative Wind Power Installations by Country, Latin America: 2012
- Annual Wind Power Installations by Country, Latin America: 2012
- Wind Turbine Market Share by OEM, Latin America: 2012
- Cumulative Wind Turbine Capacity by OEM, Latin America: 2012
- Electricity Generation by Fuel Source, Brazil: 2012
- Annual Wind Power Installations, Brazil: 2002-2012
- Average Contract Price Awarded in Wind Auctions, Brazil: 2009-2013
- Average Contract Price Awarded in Wind Auctions, Brazil: 2009-2013
- Wind Capacity Contracts Awarded by Year, Brazil: 2004-2009
- Turbine Market Share by OEM, Brazil: 2012
- Wind Plant Ownership Capacity by Company, Brazil: 2012
- Electricity Generation by Fuel Source, Mexico: 2012
- Annual Wind Power Installations, Mexico: 2002-2012
- Turbine Market Share by OEM, Mexico: 2012
- Wind Plant Ownership Capacity by Company, Mexico: 2012
- Electricity Generation by Fuel Source, Argentina: 2012
- Annual Wind Power Installations, Argentina: 2002-2012
- Wind Plant Ownership Capacity by Company, Argentina: 2012
- Turbine Market Share by OEM, Argentina: 2012
- Electricity Generation by Fuel Source, Chile: 2012
- Annual Wind Power Installations, Chile: 2002-2012
- Wind Plant Ownership Capacity by Company, Chile: 2012
- Turbine Market Share by OEM, Chile: 2012
- Electricity Generation by Fuel Source, Costa Rica: 2012
- Annual Wind Power Installations, Costa Rica: 2002-2012
- Wind Plant Ownership Capacity by Company, Costa Rica: 2012
- Turbine Market Share by OEM, Costa Rica: 2012
- Electricity Generation by Fuel Source, Peru: 2012
- Electricity Generation by Fuel Source, Uruguay: 2012
- Annual Wind Power Installations, Uruguay: 2002-2012
- Wind Plant Ownership Capacity by Company, Uruguay: 2012
- Wind Developers Awarded PPAs in Auction Rounds, Uruguay
- Turbine Market Share by OEM, Uruguay: 2012
- Contracted Turbine Supply Agreement Market Share by OEM, Uruguay: 2013-2015
- Turbine Market Share by OEM, Venezuela: 2012
- Annual Wind Power Installations, Venezuela: 2002-2012
- Wind Plant Ownership Capacity by Company, Venezuela: 2012
- Turbine Market Share by OEM, Venezuela: 2012
- Wind Plant Ownership Capacity by Entity, Cuba: 2012
- Turbine Market Share by OEM, Cuba: 2012
- Wind Plant Ownership Capacity by Entity, Dominican Republic: 2012
- Projected Turbine Market Share by OEM, Dominican Republic: 2014-2015
- Wind Plant Ownership Capacity by Entity, Ecuador: 2012
- Turbine Market Share by OEM, Ecuador: 2012
- Wind Plant Ownership Capacity by Entity, Honduras: 2012
- Turbine Market Share by OEM, Honduras: 2012
- Wind Plant Ownership Capacity by Entity, Nicaragua: 2012
- Turbine Market Share by OEM, Nicaragua: 2012
- Wind Plant Ownership Capacity by Entity, Puerto Rico: 2012
- Turbine Market Share by OEM, Puerto Rico: 2012
- Wind Plant Capacity, Select Other Latin America Countries: 2012
- Wind Power Capacity, Annual and Cumulative, Brazil: 2013-2022
- Wind Power Capacity, Annual and Cumulative, Mexico: 2013-2022
- Wind Power Capacity, Annual and Cumulative, Argentina: 2013-2022
- Wind Power Capacity, Annual and Cumulative, Chile: 2013-2022
- Wind Power Capacity, Annual and Cumulative, Costa Rica: 2013-2022
- Wind Power Capacity, Annual and Cumulative, Peru: 2013-2022
- Wind Power Capacity, Annual and Cumulative, Uruguay: 2013-2022
- Wind Power Capacity, Annual and Cumulative, Venezuela: 2013-2022
- Wind Power Capacity, Annual and Cumulative, Cuba: 2013-2022
- Wind Power Capacity, Annual and Cumulative, Dominican Republic: 2013-2022
- Wind Power Capacity, Annual and Cumulative, Ecuador: 2013-2022
- Wind Power Capacity, Annual and Cumulative, Honduras: 2013-2022
- Wind Power Capacity, Annual and Cumulative, Nicaragua: 2013-2022
- Wind Power Capacity, Annual and Cumulative, Panama: 2013-2022
- Wind Power Capacity, Annual and Cumulative, Puerto Rico: 2013-2022
- Acciona Installation Capacity by Country, Latin America: 2012
- Alstom Installation Capacity by Country, Latin America: 2012
- Enercon Installation Capacity by Country, Latin America: 2012
- Gamesa Installation Capacity by Country, Latin America: 2012
- GE Installation Capacity by Country, Latin America: 2012
- Goldwind Installation Capacity by Country, Latin America: 2012
- IMPSA Installation Capacity by Country, Latin America: 2012
- Nordex Installation Capacity by Country, Latin America: 2012
- Siemens Installation Capacity by Country, Latin America: 2012
- Suzlon Installation Capacity by Country, Latin America: 2012
- Vestas Installation Capacity by Country, Latin America: 2012
List of Tables
- Brazil Key Facts
- BNDES Compliance Status for Wind Turbine OEMs: September 2013
- Operational Nacelle Manufacturing Overview and Capacity, Brazil
- Wind Blade Manufacturing Overview and Capacity, Brazil
- Tower Manufacturers, Brazil
- Other Key Component Manufacturers, Brazil
- Selection of Other Materials Suppliers, Brazil
- Mexico Key Facts
- Sample of Self-Supply Wind Plants and Their End-User Industrial Power Buyers
- Direct Import Cost Template, NAFTA versus Non-NAFTA: 2011
- Generator Manufacturers Active in the Wind Market, Mexico
- Tower Company Facilities, Mexico
- Transformer Manufacturers Active in the Wind Market, Mexico
- Bearings and Forgings Companies Active in the Wind Market, Mexico
- Companies with Facilities Providing Materials for Wind Blades, Mexico
- Argentina Key Facts
- Chile Key Facts
- Costa Rica Key Facts
- Peru Key Facts
- Reverse Auction Wind Power Contract Winners, Peru
- Uruguay Key Facts
- Wind Plants in Construction or Advanced Development Phases with Secured Turbine Orders, Uruguay
- Venezuela Key Facts
- Cuba Key Facts
- Dominican Republic Key Facts
- Wind Plants Online, in Construction, or in Late Stage Development, Dominican Republic
- Ecuador Key Facts
- Honduras Key Facts
- Nicaragua Key Facts
- Panama Key Facts
- Wind Plants Coming Online Via Government Tender, Panama
- Wind Turbine Supply Agreements Signed, Panama
- Puerto Rico Key Facts
- Installed Wind Capacity Project Details, Select Other Latin America Countries
- Acciona Key Facts
- Alstom Key Facts
- Enercon Wobben Key Facts
- Gamesa Key Facts
- GE Energy Key Facts
- Goldwind Key Facts
- IMPSA Key Facts
- Nordex Key Facts
- Siemens Key Facts
- Suzlon Key Facts
- Vestas Key Facts
- Tier One Wind Plant Owners and Wind Capacity by Country, Latin America: 2012
- Tier Two Wind Plant Owners and Wind Capacity by Country, Latin America: 2012
- Tier Three Wind Plant Owners and Wind Capacity by Country, Latin America: 2012
- Wind Power Capacity, Brazil: 2012-2022
- Wind Power Capacity, Mexico: 2012-2022
- Wind Power Capacity, Argentina: 2012-2022
- Wind Power Capacity, Chile: 2012-2022
- Wind Power Capacity, Costa Rica: 2012-2022
- Wind Power Capacity, Peru: 2012-2022
- Wind Power Capacity, Uruguay: 2012-2022
- Wind Power Capacity, Venezuela: 2012-2022
- Wind Power Capacity, Cuba: 2012-2022
- Wind Power Capacity, Dominican Republic: 2012-2022
- Wind Power Capacity, Ecuador: 2012-2022
- Wind Power Capacity, Honduras: 2012-2022
- Wind Power Capacity, Nicaragua: 2012-2022
- Wind Power Capacity, Panama: 2012-2022
- Wind Power Capacity, Puerto Rico: 2012-2022