A recent report highlights Guatemala as one of the top 5 countries in Latin America (and number 15 worldwide) to invest in renewable energy, as announced at the event Guatemala in Focus: Climatescope and Global Energy Transition organized by Bloomberg NEF (BNEF), a strategic research organization that promotes transition to a low-carbon economy with the support of Corporación Multi Inversiones (CMI) and its energy marketer ION Energy.
Each year, the Climatescope report written by BNEF analysts compiles detailed data on 140 markets around the world, including 110 emerging and 30 developed economies. The resulting report assesses macroeconomic trends in energy transition and scores each market based on its attractiveness for receiving clean energy capital.
“Renewable energy is gaining ground around the world. Guatemala, Chile, Brazil, Colombia and Peru are among the most attractive countries in Latin America for renewable energy investment, which presents extensive opportunities for the region and demonstrates the importance of caring for the environment and energy business climate,” said James Ellis, director of Research for Latin America at BNEF. He also highlights that a common factor identified by the report is that the Latin American countries in the top 5 have well-established and effective policies, in addition to structuring energy sectors open to private investors.
Investing in renewable energies in Guatemala
Global investment in renewable energy projects hit a record $560 billion in 2023, with solar accounting for more than a fifth of the total. The success of net metering policies and tax incentives have fueled the sector’s meteoric rise, attracting twice as much investment in 2023 as two years earlier.
Countries in the region share principles that, according to the BNEF report, are the most attractive for investment: clear and consistent energy policies, stable regulatory frameworks, developed transmission and distribution infrastructure, legal certainty, transparent and competitive bidding processes.
In Guatemala, CMI demonstrates the viability of creating impactful investments that promote sustainable development through renewable energy generation projects and their marketing. Currently, the growing operation of the CMI Energy unit confirms the corporation’s commitment to invest in the country and the region, where it is now among the top 3 renewable energy generators in Central America.
For more than 30 years, CMI Energy has worked hand in hand with energy sector authorities in each country and with their governments to contribute positively and share their experiences.
Beyond raising the country to the top 5 of Latin America, and number one in Central America, Climatescope puts Guatemala in the spotlight of renewable energy investments, highlighting the importance of caring for the environment and the opportunities provided by the energy business climate to produce positive impacts.
About CMI: Corporación Multi Inversiones, CMI, is a family-owned multinational corporation currently led by the third generation of the family through its Chairmen Juan Luis Bosch Gutiérrez and Juan José Gutiérrez Mayorga. Currently, CMI has become one of the most important business groups in the region, with presence in 16 countries, more than 40,000 workers and a history of more than 100 years of work. Through its operation, CMI seeks to create sustainable development with a positive impact in each of the communities where it operates.
