UK-LatAm Energy Transition Summit: Powering Potential

In recent years, the energy transition and energy security have become top international priorities. Latin America, with its vast oil and gas reserves, abundant critical minerals, and the world’s cleanest energy matrix, stands as a key player in this shift. The United Kingdom, with its capital, expertise, and technology, is well-positioned to unlock the region’s immense potential. As the world’s leading green finance centre, London can tap into international capital from development banks, governments, and private investors to drive renewable infrastructure in Latin America. Meanwhile, UK energy giants such as Shell and BP are actively seeking to expand and diversify their renewable investments in regions such as Latin America.

As the global push for electrification intensifies, so too will the demand for critical minerals. With 40% of the world’s copper and half of its lithium reserves, Latin America is central to meeting this growing need.

In this context, Canning House will host a conference, sponsored by ERG International, to explore avenues for energy collaboration between the UK and Latin America. By bringing together high-level industry leaders, investors, and researchers from both regions, this conference aims to shed light on emerging opportunities and challenges within the global energy landscape.

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Latin America, home to 8% of the world’s population and 7% of its economy, has the potential to play a significant role in the global energy transition. With the world’s second-largest oil and gas reserves, 40% of global copper, half of global lithium reserves, and the cleanest energy matrix globally – generating 61% of its power from renewables – the region is an energy powerhouse. Hydropower has long been its backbone, supplying nearly half of its electricity. However, environmental concerns and droughts highlight the need for diversification, prompting interest in wind and solar energy. From the Atacama Desert’s solar potential to Patagonia's strong winds, the region is ripe for renewable energy development.

Countries like Chile have implemented strong policies to attract investment in renewables, positioning themselves as global leaders. Chile’s Cerro Dominador solar plant and Brazil’s burgeoning offshore wind sector are key examples. Meanwhile, Colombia boasts solar potential with irradiation levels 60% higher than the global average. Latin America also holds around 15% of the world’s geothermal resources, though only a small portion has been harnessed.

Governments are not acting alone in this transition. Multilateral development banks, such as the Inter-American Development Bank (IADB) and CAF, are providing critical support to energy projects. Ecuador, for example, is crafting an energy transition plan for the Galápagos Islands, while CAF has allocated US$1.9 billion to accelerate energy transitions in countries like Argentina, Chile, and Peru. These collaborations are key to unlocking the region’s potential in the global hydrogen economy, with countries like Chile and Brazil leading ambitious plans to become major hydrogen exporters by 2030.

Regional energy integration is also underway, improving the distribution of energy resources. Initiatives like the Central American Electrical Interconnection System (SIEPAC) and the Andean Electrical Interconnection System (SINEA) are helping to connect countries across the region. Meanwhile, Argentina’s Nestor Kirchner Gas Pipeline is expected to save the country US$4.2 billion in gas imports and may soon supply neighbouring Brazil.

Latin America’s energy potential extends beyond its borders, offering opportunities for collaboration with global partners like the UK. As a global leader in green finance and offshore wind energy, the UK can provide the capital and expertise needed to scale Latin America's renewable infrastructure. British firms like Shell and BP are already expanding renewable energy investments in the region. The UK government is also supporting Latin American states with initiatives like the UK-Colombia Partnership for Sustainable Growth.

In return, Latin America can support the UK’s energy transition by supplying critical minerals for renewable technologies and providing a reliable energy partner amidst global geopolitical challenges. This reciprocal relationship between Latin America and the UK will be a key topic at this Canning House conference exploring collaboration in the global energy economy.

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