• 4 minutes Trump will meet with executives in the energy industry to discuss the impact of COVID-19
  • 8 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 11 minutes Why Trump Is Right to Re-Open the Economy
  • 13 minutes Its going to be an oil bloodbath
  • 19 mins Ten days ago Trump sent New York Hydroxychloroquine. Being administered to infected. Covid deaths dropped last few days. Fewer on ventilators. Hydroxychloroquine "Cause and Effect" ?
  • 40 mins US Shale Resilience: Oil Industry Experts Say Shale Will Rise Again
  • 16 mins Russia's Rosneft Oil is screwed if they have to shut down production as a result of glut.
  • 13 hours Mr
  • 22 hours While China was covering up Covid-19 it went on an international buying spree for ventilators and masks. From Jan 7th until the end of February China bought 2.2 Billion masks !
  • 2 hours ‘If it saves a life’: Power cut to 1.5 million Californians
  • 11 hours Free market or Freeloading off the work of others?
  • 1 day What If ‘We’d Adopted A More Conventional Response To This Epidemic?’
  • 12 hours Marine based energy generation
  • 1 day Real Death Toll In CCP Virus May Be 12X Official Toll
  • 11 hours China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 17 hours Which producers will shut in first?

Breaking News:

WTI Slides On Huge Crude Inventory Build

Latin America and the Caribbean Lack Private Investment in Renewables

Latin America and the Caribbean Lack Private Investment in Renewables

Free market mechanisms are failing to attract the private capital needed to develop clean energy projects in Latin America and the Caribbean.

According to Bloomberg New Energy Finance and the Inter-American Development Bank’s multilateral investment fund (IMF), last year global investment in clean energy projects reached $260 billion, with Latin America and the Caribbean only receiving seven percent of that sum, despite the incredible renewable energy potential that the region boasts.

The MIF created the new business index called Climatescope in order to encourage private investors to devote $9.4 billion in green energy sector for Latin America and the Caribbean; however this amount is significantly below the desired level of investment that the rapidly growing region requires. MIF suggests that it is about half of the level that they should be attracting.

Analysts and commentators have long talked about the huge potential for clean energy development in the area; from the solar energy opportunities in the Atacama desert, to the many suitable sites for wind, hydro and wave power. However there are many obstacles facing renewable energy projects in Latin America and the Caribbean, such as the availability of local capital and the absence of supply chains for clean energy technology, which threaten to leave the vast potential untapped.

In the rest of the world about 60% of finance invested in low-carbon projects is private, and this private finance is vital to the growth of the green energy sector and the success of initiatives such as the UN’s Reducing emissions from deforestation and forest degradation (Redd), which needs up to $30bn a year. Governments alone cannot supply this amount of money, and therefore private investors are imperative to changing the world to a low carbon economy.

By. Charles Kennedy



Join the discussion | Back to homepage




Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News