The major power generation sector in which major economies in the Americas will invest is hydropower, according to a report released by Timetric’s Construction Intelligence Center.
The report, entitled “Project Insight: Power Generation Construction Projects in the Americas,” says more than US$792 billion will be invested in the coming years to increase generating capacity by 380 GW, with hydroelectric power being valued at $200 billion and headed by Brazil. Hydropower is estimated to account for 65% of all power generation in Latin America, with some countries (such as Brazil) having more than 85% dependence on the sector.
In terms of value, the largest projects in the Americas being tracked by the center are the $22 billion Mariah Wind Farm in Texas in the USA and the $16 billion Tapajos Hydropower Complex in Brazil.
The USA heads the 13 countries analyzed, with projects valued at almost US$388 billion, followed by Canada at $90.3 billion and Brazil at $90 billion.
After hydropower at $200 billion, Timetric estimates spending to be US$190 billion for wind and $141.5 billion for nuclear.
Countries analyzed for this report were Argentina, Bolivia, Brazil, Canada, Chile, Colombia, Dominican Republic, Ecuador, Mexico, Panama, Peru, USA and Venezuela.
The data in the report was based on Timetric’s projects database, which provides details on more than 67,000 projects worldwide. Timetric provides online data, analysis and advisory services on key financial and industry sectors.