With 8.4 GW of new solar projects announced in Latin America and the Caribbean over the past12 months, market research provider GTM Research is predicting that 450 MW of new grid connected capacity will come online this year.

MW-scale R&D plants will come online in 2013.
In a report on the Latin American market – focusing on opportunities in Mexico, Chile, Brazil,
Ecuador,Argentina, the Dominican Republic, Peru and Jamaica – GTMpredicts Mexico and Chile
will dominate the market although MW-scale R&D projects in Brazil will also come online in
2013.

The majority of PV installations across the region are off-grid at the moment, but GTM says thatwith new installations set to double from 2012’s sub-100 MWfigure, Latin America will soon be a growth market.

GTM adds that with a scarcity of experienced solar players in the region, it expects established
players in parallel industries to make the most of the opportunities in a market where local
knowledge is more important than a solar track record.