Is Guatemala a good place to invest in solar energy?

Guatemala is the second largest Central American power market, with a goal to increase renewable energy use. Relatively high levels of solar irradiance and large areas of cleared land give the country a strong potential for increased solar energy development.

What is Guatemala's energy source?

This page is part of Global Energy Monitor 's Latin America Energy Portal. In 2018, Guatemala derived 57.43% of its total energy supply from biofuels and waste, followed by oil (29.54%), coal (7.68%), hydro (3.22%), and other renewables such as wind and solar (2.12%).

What is the future of energy in Guatemala?

Competition with the possibility of developing cheaper energy sources, such as: hydropower & natural gas. The Guatemalan government has a plan of using geothermal power to supply for two thirds of the country’s energy needs by 2022 . Thus reducing oil imports and stabilizing the country’s energy supply .

What is energy security in Guatemala?

Within that context, energy security is to be defined with accordance to to the electricity supply, taking into account needs and objectives of the country's energy policy . The key aspects of the energy security perspective in Guatemala are: adequacy, resilience and sovereignty .

Why did BMR decide to buy a solar farm in Guatemala?

As part of its evaluation process, BMR determined that the solar farm offered a strong return that was supported by Guatemala’s well-established and stable regulatory system. BMR navigated a complex and cooperative sales process that involved four owners across three legal jurisdictions.

Why should we invest in green solar?

Relatively high levels of solar irradiance and large areas of cleared land give the country a strong potential for increased solar energy development. BMR Energy acquired the Green Solar project in 2017, bringing financial stability and an increased focus on operational excellence.