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2 clusters · 13 sources · 4 days · First seen 16 days ago · Last updated 13 days ago

Latin American energy storage market growth

Overview

Wood Mackenzie projects that energy storage capacity in Latin America will grow from 2.5 GW in 2025 to 34 GW by 2035. This growth is driven by the integration of renewable energy and the need to address grid congestion and aging infrastructure.

By August 2026, the Latin American and Caribbean Energy Organization (OLACDE) reported that battery energy storage system (BESS) capacity in the region reached 3,408 MW, more than doubling 2025 levels. Chile remains the regional leader with approximately 2,291 MW of operational BESS capacity, representing nearly two-thirds of the total. This includes the recently commissioned Lo Aguirre and Tamaya plants by Engie Chile, which provide 1,100 MWh to the national electrical system.

Mexico is also expanding its footprint; the Federal Electricity Commission (CFE) has a development program for 2026–2030 aiming to increase renewable energy participation to 38% and incorporate over 2,200 MW of storage. Other regional activities include Argentina adjudicating over 1,400 MW of storage, while Cuba has begun implementing BESS, though it currently utilizes only a small fraction of its solar capacity due to storage limitations.

In the Dominican Republic, the National Energy Commission (CNE) continues to target a US$500 million reduction in the electricity distributors' financial deficit by 2028 through renewable integration. Analysts maintain that while the pipeline is growing, deployment requires comprehensive regulatory frameworks to mitigate risks like price cannibalization.

Entities

Chile · Wood Mackenzie · Comisión Nacional de Energía · Edward Veras · Organización Latinoamericana y Caribeña de Energía

Claims

What the coverage asserts, and how many sources carry each claim.

[○ 1 SOURCE] Engie Chile has commercially launched two battery energy storage systems (BESS), Lo Aguirre and Tamaya. logistica360chile.cl
[○ 1 SOURCE] The Lo Aguirre and Tamaya projects provide a combined storage capacity of 1,100 MWh. logistica360chile.cl
[○ 1 SOURCE] Mexico's CFE plans to invest 651,000 million pesos ($32.9 billion) in generation, transmission, and distribution between 2026 and 2030. www.pv-magazine-mexico.com
[○ 1 SOURCE] CFE anticipates 52 generation projects totaling 18,597 MW as part of its development program. www.pv-magazine-mexico.com
[○ 1 SOURCE] The financial deficit of distribution companies in the Dominican Republic could be reduced by $500 million by 2028. elpregonerord.com
[○ 1 SOURCE] Expansion plans aim to reduce the average energy purchase price from 15 cents to 12 cents per kilowatt-hour. elpregonerord.com

Timeline

13 days ago

[TECHNOLOGY] 10 sources
Latin America accelerates energy storage expansion through battery technology
Latin America's energy storage capacity has doubled to 3,408 MW as of August 2026, led by Chile and supported by major renewable energy expansion and investment plans in Mexico.
16 days ago

[BUSINESS] 4 sources
Latin American energy storage capacity projected to reach 34 GW by 2035
Wood Mackenzie forecasts Latin American energy storage capacity will surge from 2.5 GW in 2025 to 34 GW by 2035, driven by grid constraints and renewable energy curtailment.

Sources

14ymedio.com · actualidadjuridica.doe.cl · elperiodicodelaenergia.com · elpregonerord.com · energy21.com.mx · logistica360chile.cl · moncloa.com · petroleoenergia.com · portadanacional.com · pv-magazine-mexico.com · pv-magazine.com · sustentable.cl · taiyangnews.info

This summary has been updated 1 time: see revision history