What is the current South America Thermal Power Market size?

The South America Thermal Power Market is projected to register a CAGR of greater than 1% during the forecast period (2024-2029) Read More

Who are the key players in South America Thermal Power Market?

Centrais Eletricas Brasileiras SA , AES Corporation , Pampa Energía SA , Enel S.p.A and Colbún S.A are the major companies operating in the South America Thermal Power Market. Read More

What years does this South America Thermal Power Market cover?

The report covers the South America Thermal Power Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the South America Thermal Power Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

South America Thermal Power Market Trends

Statistics for the 2023 & 2024 South America Thermal Power market trends, created by Mordor Intelligence™ Industry Reports. South America Thermal Power trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of South America Thermal Power Industry

This section covers the major market trends shaping the South America Thermal Power Market according to our research experts:

Natural Gas Power Plants to Dominate the Market

With the decreasing interest in coal and oil for energy production and the negligible presence of nuclear power, natural gas is expected to increase its share during the forecast period.
In August 2019, Siemens AG shipped 14 industrial gas turbines to Bolivia to expand the capacity of the Entre Rios combined-cycle plant. With this significant growth in thermal energy is expected.
In 2020, Wartsila Group won a project for a 200 MW power plant in the Northern Andes region. The plant will be powered by 11 Wärtsilä 50SG engines running on natural gas and is expected to be operational by the end of 2021. The South American region witnessed growth in electricity generation from natural gas. In 2019, the area generated 245 TWh of electricity from natural gas.
Although natural gas projects are facing competition from renewables but with increased production of natural gas as well as the development of regasification infrastructure, the segment is expected to dominate the market.

South America Thermal Power Market - Electricity Generation from Natural Gas

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Brazil to Dominate the Market

Brazil has two operating nuclear power plants. The nuclear power amounted to 3% of the total electricity generation in the country in 2019. As of June 2020, nuclear power operable capacity of Brazil is around 1.88 GWe.
In 2018, MHPS and Shell formed a consortium to build 565-MW Marlim Azul plant that will be powered by MHPS gas turbines and is expected to go into operation at the beginning of 2023.
GNA Port of Açu III is a 1.6GW LNG-fired thermopower plant which is still awaiting a decision on construction. The start of operations at the plant is scheduled for January 2023, and its operating permit is expected to be valid for 35 years.
With total electricity generation 625 TWh in 2019, Brazil holds the largest share in the regional market. With upcoming projects, the nation is expected to continue its dominance during the forecast period as well.