Powering the Future with Renewable Energy Latin America Projects
The International Renewable Energy Agency (IRENA) has sent a clear signal to Latin America’s clean energy sector, issuing a formal call for renewable energy project proposals. This significant initiative aims to supercharge the region’s ongoing energy transition, support decarbonization efforts, and dramatically scale up the deployment of clean energy technologies.
The call invites both public and private sector developers to submit their projects, opening a vital pathway to financing and support. This move comes at a critical time, as nations across the continent are looking to harness their abundant natural resources to build a more sustainable and resilient energy future.
Unlocking Investment and Support for Renewable Energy Latin America
At the heart of IRENA’s initiative are two key financing platforms designed to match projects with the right kind of capital: the Climate Investment Platform (CIP) and the Energy Transition Accelerator Financing (ETAF) platform. Selected projects could gain access to these funding streams, along with valuable investment partnerships and de-risking tools to help bring them to fruition.
To be considered for this opportunity, developers must be based in one of the eligible countries, which include Argentina, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Suriname, Uruguay, and Venezuela.
The deadline for priority review is March 1, 2026. IRENA has outlined distinct criteria for each platform to guide applicants:
- Climate Investment Platform (CIP): This platform targets projects that are beyond the initial conceptual stage. Proposals should demonstrate clear alignment with the UN Sustainable Development Goals and the nation’s specific climate priorities.
- Energy Transition Accelerator Financing (ETAF): This stream is focused on medium-to-large-scale projects that are more mature and ready for financing. A key requirement is the completion of comprehensive feasibility studies.
To aid potential applicants, IRENA has supported the process with webinars detailing eligibility requirements, application procedures, and best practices for preparing investor-ready proposals.
A Region Primed for a Renewable Energy Latin America Green Revolution
IRENA’s call for projects doesn’t exist in a vacuum. It taps into a powerful wave of momentum already building across Latin America, where ambitious renewable energy projects are taking shape.
In Chile, the Atacama Desert is set to host a groundbreaking project featuring a 238 MWp solar park integrated with a massive 1 GWh battery storage system. This project, expected to be operational in early 2027, highlights the critical role of energy storage in enhancing grid stability and ensuring solar power can be dispatched even when the sun isn’t shining. As Chile’s electricity sector rapidly evolves—with renewables making up 66% of the grid—solutions that tackle intermittency and curtailment are essential.
The trend is visible elsewhere, too. Peru recently approved plans for a 200 MW solar park that will also be paired with an energy storage system, demonstrating a growing regional commitment to integrated renewable solutions. Meanwhile, Mexico is taking a leadership role in a different but related field, chairing the Latin American Clean Hydrogen Alliance from 2025 to 2027. This alliance aims to accelerate the development of clean hydrogen, a fuel source intrinsically linked to the availability of abundant and low-cost renewable electricity.
This call to action from IRENA is more than just a funding opportunity; it’s a recognition of Latin America’s immense potential to become a global leader in the clean energy transition. By connecting innovative projects with the necessary capital and expertise, this initiative can help unlock a more sustainable and prosperous future for the entire region.
