ACORE Publishes Dino Barajas Article on Renewables Impact in Latin America and the Caribbean
American Council On Renewable Energy (ACORE) has published “The Renewable Energy Sector’s New Frontier: Latin America and the Caribbean,” an article by Akin Gump global project and finance partner Dino Barajas on the ways in which renewable energy technologies “are now changing the regional energy landscape” in Latin America and the Caribbean through the “introduction of renewable energy into regional electric generation and distribution systems.”
The region, which is “plagued with unnaturally high energy production costs,” offers renewable energy developers “a long‐term, stable development environment where success is largely crafted by economic opportunity based on technology competitiveness rather than ever‐changing political and public opinion,” writes Barajas.
According to the article, not only will integration of renewable energy into regional generation portfolios benefit Latin America and the Caribbean by attracting a greater variety of industries to the region’s markets, but greater control by countries over energy production costs will also “help achieve individual national and regional security, economic security, and environmental security through the use of local renewable energy resources.”
Barajas notes that, as new renewable energy companies enter the region’s market, they are mindful of the challenges previous developers have faced “navigating jurisdictional, legal, cultural, and business environments,” which has proven critical to the success of these projects.
The article concludes by noting that the expansion of renewable energy in Latin America and the Caribbean will benefit all of those involved, including developers, investors and local consumers. “The secret to navigating these rich environments,” Barajas writes, “will be assembling the right team armed with market knowledge, language skills, and business acumen.”
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