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%).

Can geothermal power be used in Guatemala?

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 . Crude oil production in Guatemala has high potential, with estimations suggesting the possibility of reaching 50000 barrels/day .

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.