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Latin America at a glance: September 2016

Argentina

  • August 30, 2016. Argentine firms Eólica Rionegrina and Corporación América signed an agreement to jointly develop a 100MW wind farm in Río Negro province, with the goal of obtaining a power-purchase agreement in Argentina’s RenovAr Ronda 1 renewable energy tender. Source: BNAmericas 
  • On August 18th Argentina’s Supreme Court disagreed the increase of energy price introduced in April by President Macri, in an attend to eliminate the subsides, that represented government’s 12.3% of its total spending in 2014. Quadrupling gas prices, was illegal because the government had failed to consult the public, as required by the constitution. The court could strike down a sixfold rise in electricity prices on similar grounds. August 26, 2016. The court’s ruling is retroactive, though it applies only to residential customers, not businesses. The government must now reinstate subsidies and cut prices to their earlier levels. That will cost an estimated 0.2% of GDP. The government has ruled out borrowing or compelling the central bank to print money to make up the shortfall. It will get the money by cutting spending “either from infrastructure projects or somewhere else”, said Marcos Peña, Mr Macri’s cabinet chief, in a press conference. Read article

 

Brazil

  • August 31, 2016. Brazil’s Dilma Rousseff has been removed from presidential office after senators (votes 61-20) in Brasilia voted to impeach her for breaking fiscal laws the decision is the culmination of a year-long fight that paralyzed Latin America’s most powerful economy source: Indepentent.co.uk
  • Michel Temer, who has been interim president since May, was sworn in hours later to serve out the remaining 28 months of her term. Mr Temer needs to clean Brazil’s chaotic public finances. He is counting on two measures to achieve that: a 20-year freeze on public spending in real terms and a reform of the pension system, which generously rewards retired workers at the expense of everyone else. Both require amending the constitution. The proposals stalled during the impeachment process. Now, the government promises, both will move ahead. Source: The Economist

 

Colombia

  • On August 24th negotiators representing Colombia’s government and the FARC announced that they had reached a final agreement after four years of talks in Havana. Although violence subsided in recent years, especially after the FARC declared a unilateral ceasefire in 2015, the war’s formal end will allow Colombia at last to become a normal country, and to focus its attention on improving the lives of its 48m citizens. “Today marks the beginning of the end of the suffering, the pain and the tragedy of war,” said Colombia’s president, Juan Manuel Santos. Source: The Economist

Mexico

  • August 28, 2016. Alberto Aguilera or Juan Gabriel (his stage name) died. His death has brought forth an outbreak of mass mourning. Mexico’s greatest modern pop singer stirred the hearts of millions across the Spanish-speaking world, including that large bit of it that resides north of the Rio Grande. His difficult life as an orphan and great success was an admirable example of his great talent. Source: The Economist
  • August 31, Mexico City. Donald Trump had a press conference together with The President Enrique Peña Nieto. Mr. Trump made clear his objective of building a wall between both countries borders in order to stop immigration. After and during his presentation in Phoenix, he made clear that Mexico will pay the wall, even Mexican’s don’t even know it.
  • Enel Green Power, acting through its Mexico subsidiary- Enel Green Power México S. de R.L. de C.V, was awarded the right to sign contracts for 15-year energy supply and 20-year clean certificate supply over 3 solar PV projects with an installed capacity of nearly 1 GW — almost double any other participant in the tender.   “Mexico is a pivotal market for all serious players in this field due to its huge potential in clean energy an Mexico is a pivotal market for all serious players in this field due to its huge potential in clean energy and stable regulatory framework. The nearly 1 GW we have just been awarded, in addition to the capacity already in operation and under construction, have turned us into the main player in the country. We have worked hard to become one of the most competitive companies in many clean technologies and the positive outcome of this tender is another clear indication of the success of our growth strategy.” d stable regulatory framework. The nearly 1 GW we have just been awarded, in addition to the capacity already in operation and under construction, have turned us into the main player in the country. We have worked hard to become one of the most competitive companies in many clean technologies and the positive outcome of this tender is another clear indication of the success of our growth strategy.” said Enel Green Power CEO Francesco Venturini read article

 

Venezuela

  • CARACAS, Venezuela, September 1, 2016, thousands of Venezuelans are demonstrating on the street, demanding the redeem of the president Nicolás Maduro. The demonstration was organized by “La Mesa de la Unidad Democrática”

 

#Brazil #DilmaRousseff  #SolarEnergy #WindEnergy #Cleantech