Latin America Wind Turbine Market

Report Description
The installed capacity in 2013 was 76 MW in Argentina, 200 MW in Chile, 30 MW in Peru, 11
MW in Uruguay, and149 MW in Venezuela.
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Strong wind resources, and rising electricity prices and energy demand are driving the demand
for renewable energy higher. The Latin American industrial policies are effective as they have
tailored depreciation tax policies which enable industries to actively partner with wind energy
generators for their energy usage. Also, wind plants do not need to be in the vicinity of the end
user and just need a connection to the Latin American power grids. Feed-in electricity tariffs
have been introduced to motivate the use of renewable energy such as wind energy, solar
energy, hydropower, thermal energy and biomass energy. This encourages investment in
renewable energy as the government makes provisions for higher retail rates for electricity for
the producers of new energy technologies.
Consistently declining monopoly in the Latin American electricity sector had paved way for wind
turbine manufacturers. The current wind turbine market is competitive. Gamesa is the leading
turbine supplier in Mexico and holds 73.5% of the market. It is followed by Vestas with 22% of
the market contribution. GE is also a major turbine manufacturer with 4.5% market share in
Mexico. Besides, the collapse of the Spain-based OEMs (Other Equipment Manufacturers) wind
market has compelled companies to expand their business in Latin America.