Wednesday, March 16, 2016

Huge success story of Uruguay's wind power



Uruguay went from having virtually no wind power generation in 2007 to installing 581 MW of wind capacity by mid-2015, providing an average 17 percent of total electricity generation over the year. Country also became a double world-record holder - by 2013, it was receiving the largest share of clean energy investment as a percentage of GDP, and, in 2014, it installed the most wind per capita of any country.
Uruguay's success illustrates how addressing regulatory barriers and creating a well-designed auction system for renewable energy development can have a catalytic effect on private sector investment. The Wind Energy Programme, supported the Government of Uruguay, included a competitive bidding mechanism for large-scale renewable energy development and a feed-in tariff for smaller-scale systems, which allowed non-utility power producers to sell renewable energy to the grid at standardized prices. Uruguay’s reforms provided the policy stability and technical expertise to kick-start wind investment, with the nation now receiving more than $1 billion a year in investment for clean energy. Read more at http://www.renewableenergyworld.com/