Guatemala renewable energy auction: A Bold Step Toward Sustainability
Guatemala has embarked on a transformative journey by launching a renewable energy auction for 1.4 gigawatts (GW) of capacity, with a strong emphasis on solar, wind, and geothermal projects. This strategic move aims to diversify and bolster the country’s renewable energy portfolio.
Auction Details for the Guatemala renewable energy auction
The Guatemalan Ministry of Energy and Mines (MEM) officially announced the national auction dedicated to expanding the country’s renewable energy infrastructure. This auction is inclusive of solar, wind, and geothermal energy projects, reflecting a commitment to sustainable energy development.
The auction is methodically segmented into three categories based on the scale of the projects: small plants with a capacity of up to 10 megawatts (MW), medium plants up to 100 MW, and large plants exceeding 100 MW. Within these categories, a total capacity of 1.4 GW will be awarded to successful bidders.
Capacity Allotment and Timeline in the Guatemala renewable energy auction
The MEM has strategically allocated capacity across the categories: 300 MW for small plants, 300 MW for medium plants, and a substantial 800 MW for large plants. Interested bidders must register by December 13, with the winners set to be announced on March 6, 2025.
Currently, Guatemala’s energy grid is bolstered by 1.77 GW of renewable energy. This includes 1.1 GW from hydropower, 439 MW from bioenergy, 149 MW from wind, and 84 MW from solar power. With an ambitious goal to add 1.6 GW of new renewable capacity by 2028, including 1 GW of solar and 400 MW of wind, Guatemala is poised for a significant energy transformation.
Future Plans and Previous Successes in the Guatemala renewable energy auction
Looking ahead, the MEM plans to launch an additional auction in April 2025, targeting another 1 GW of renewable energy capacity. This upcoming auction will continue to prioritize solar and wind projects, reinforcing Guatemala’s commitment to green energy.
Reflecting on past successes, Guatemala’s previous renewable energy auction awarded contracts for 110 MW of solar capacity and 60 MW of hydropower. These efforts underscore the country’s dedication to expanding its renewable energy landscape and reducing reliance on non-renewable sources.
In a broader context, initiatives such as the Grenergy Acquires 1-GW Solar Portfolio for $128M in Chile illustrate the growing trend of significant investments in renewable energy across Latin America, further emphasizing the importance and potential of sustainable energy solutions in the region.
Through these strategic auctions and future plans, Guatemala is setting a precedent for renewable energy development, ensuring a sustainable and reliable energy future for its citizens.
