Shaping the Americas’ future

Current projects in the Americas

In the US, the upstream oil and gas sector is experiencing major consolidations among several of its key players. This consolidation trend works to increase the financial stability of large upstream oil and gas companies, which has been improving ease of access to capital as banks perceive these consolidated entities as lower-risk borrowers.¹ Tight lending criteria among traditional US banks has led to a rise in alternative financing methods, including private credit funds, structured finance mechanisms like securitisations, and family offices stepping in to support drilling operations.¹ Under the new administration, the US is reducing its investment in renewable technologies, reversing emission standards and cutting other green programmes put in place under the previous administration.

Canada remains a leader in both fossil fuel production and renewable energy. Canada has solidified itself as a global leader in renewable energy with the majority of its electricity generated from hydro, wind, and solar power.² Recently, Canadian provinces have seen surges in renewable energy production outputs. Canada houses roughly 240 data centres, which are leading corporate renewable energy adoption.³ This is particularly the case in the provinces of Québec and British Columbia, where hydroelectricity is abundant and relatively affordable. Despite this, Canada remains a major producer of oil and gas – it is the world’s fourth largest producer of crude oil and fifth largest producer of natural gas, with the province of Alberta housing many of the country’s main hydrocarbon reserves.⁴ Alberta is known for its oil sand deposits, which has led to projects including the Athabasca Oil Sands project, the Horizon Oil Sands project and the Cenovus’ Foster Creek project.⁵ Recently, the expansion of AI and the growth of cryptocurrency mining have significantly increased energy demands and consumption throughout the continent. This increased demand has led to new challenges regarding grid stability, transmission capacity, and energy pricing models, prompting investments in renewable energy sources to meet these rising demands.⁶

In South and Central America, numerous countries are experiencing a significant shift towards renewable energy. Brazil continues to dominate the continent’s clean energy transition, emerging as a regional leader with roughly 85% of its electricity production coming from various renewable sources.⁷ This dominance is due in part to Brazil’s hydropower infrastructure from its many powerful rivers, extensive wind energy capacity, and recent advancements in solar technology. Some of Brazil’s hydropower projects include the world’s second-largest hydroelectric power plant, Itaipu,⁸ and others like Belo Monte, Tucuruí, and Santo Antônio.⁹ Brazil is expected to continue expanding its transmission lines with a planned investment of US$20 billion into its electricity transmission sector by 2029.⁷ Chile and Argentina are rapidly expanding solar and wind energy thanks to favourable policies and abundant natural resources, including lithium, which is critical for battery storage. In 2024, the Chilean government selected six areas for new lithium extraction projects and asked private companies to submit development proposals.¹⁰ Additionally, Chile’s Atacama Desert, which has the highest solar irradiation on Earth, has become a focal point for significant investment.¹¹ Smaller nations like Panama and Costa Rica are notable for generating nearly all of their electricity from renewable sources.¹² Mexico has been focusing on expanding its renewable energy sector, particularly emphasising solar and wind power.¹³ Some noteworthy Mexican renewable energy projects include the 1000 MW Tarafert La Laguna solar photovoltaic (PV) park in Durango, the 1000 MW Puerto Penasco 1 solar PV park in Sonora, and the 357 MW Hidalgo 1 & 2 solar PV park in Hidalgo.¹⁴ Meanwhile, Mexico is balancing its renewable energy initiatives with a continued reliance on oil and gas production. This balance has created policy debates surrounding energy sovereignty and private-sector participation. South America is a major global supplier of the raw materials that are essential for energy storage, particularly lithium. Countries like Chile, Argentina, and Bolivia are among the largest lithium producers in the area, while Brazil is currently working to invest heavily in biofuels and low-emission hydrogen production.¹⁵

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Energy Global's Summer 2025 issue

Dive into the latest renewable energy insights in the Summer issue of Energy Global, out now! This edition features a guest comment from Change Rebellion on the role real change management can play in the global energy sector before a regional report, which looks at energy trends and transformations across the Americas. Other key topics are also explored, including offshore support vessels, floating wind, weather analysis, and battery storage. Contributors include Ørsted, CRC Evans, Miros, Solcast, and more, so don’t miss out!

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