Renewable Energies

WHY INVEST IN RENEWABLE ENERGIES IN URUGUAY?

  • Uruguay is on a path of strong transformation in terms of its energy policy, based on the definition of a long-term policy and an appropriate institutional and regulatory framework that is being adapted as the implementation of the plan advances.

  • This process positions Uruguay at the forefront of renewable energy use in the world. Between 2017 and 2021, 94% of Uruguay's electricity generation originated from renewable sources. In particular, the contribution of wind energy places Uruguay as a global leader along with Denmark, Ireland and Portugal.

  • Renewable energy investment exceeded US$ 8 billions in the last decade and is still a national priority today.

  • The first stage of the transformation of the energy matrix was based on a public-private partnership model, in which the public sector played the role of system coordinator and administrator of the auction scheme, generating certainty for national and international investors.
  • The International Renewable Energy Agency (IRENA) highlights Uruguay's promotion and incentive model, and includes the calls made by UTE as examples to follow in its guide for the design of auctions. It highlights the achievement of incorporating strong private participation in investment through innovative promotion schemes without relying on direct subsidies.
  • The achievements are reflected in the diversification of the energy matrix, the guarantee of self-sufficiency and the reduction of dependence on fossil fuels. Uruguay is currently the second country in the world with the highest share of variable renewable energies according to the REN21 report (2021).

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