Uruguay will host a forum on renewable energy this year

The general director of the International Renewable Energy Agency (IRENA), Francesco La Camera, reported that the first Latin American Investment Forum in renewable energy will take place in Uruguay on November 9 and 10 of this year.

The inaugural version of this Latin American forum is expected to attract high-level authorities, financial institutions and private sector companies from the region and around the world and provide a platform to accelerate investments in renewable energy projects in Latin America.

Currently, investment levels in renewables are well below what is needed to achieve the global implementation ambition, and continued investments and subsidies for fossil fuel assets globally are hindering progress.

According to IRENA data, Latin America and the Caribbean attracted at least $20 billion in investment in renewable energy in 2022. This figure only represents about 4% of the global total, highlighting “the urgent need” to accelerate the flow of capital to the region.

Thus, the agency called on project developers in the Latin American region to submit project applications to the Climate Investment Platform (CIP) to be considered by the Energy Transition Accelerator Financing platform (ETAF), which aims to advance the global energy transition in developing economies.

K. Tovar

Source: World Energy Trade

(Reference image source: file)

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