National Economy
The land-locked, South American country, Republic of Paraguay is bordered by Argentina, Brazil, and Bolivia. The population of Paraguay is approximately 7.37 million people[1].
In 2022, Paraguay’s economy was ranked 90th in the world in gross domestic product (GDP)[2]. The country’s economy is dependent on the export[3] of soybeans, electricity, soybean meal, beef, corn, and rice.
Environmental Policies
In 2016, Paraguay signed the Paris Climate Agreement[4], committing to a 10% cut in greenhouse gas emissions by 2030, compared to business as usual projections
Power Generation Capabilities
In 2020, 100% of the people in Paraguay had access to electricity[5]. In 2021, the state-owned utility, Administracion Nacional de Electricidad used renewable energy (99.8 %) and refined petroleum (0.2 %) to generate electricity in Paraguay[6]. Hydropower is the dominant type of renewable energy used to generate electricity in Paraguay.
Recent renewable energy projects in Paraguay include:
- 14,000 MW Hydropower Upgrade Project –American multinational, General Electric is continuing work to provide equipment and systems upgrades for the Itaipuhydropower plant, which straddles the border between Brazil and Paraguay.
- 1 MW Solar Project – In December 2022, Paraguay cooperative, Fernheim commissioned a community solar project in a town located approximately 250 miles northwest of the nation’s capital, Asunción.
Conclusions
Paraguay exports approximately 90% of the nation’s electricity to neighboring countries, Argentina and Brazil[7]. In 2020, renewable energy exports generated U.S. $1.73 Billion for Paraguay.
Paraguay has vast undeveloped renewable energy resources, including hydropower, solar, wind, and biomass. These resources can be easily developed, which will make green energy Paraguay’s leading export! Paraguay is now growing green energy exports in South America
Jack Kerfoot
Website – “Our Energy Conundrum”
www.jackkerfoot.com
Jack Kerfoot is a scientist, energy expert, and author of the book FUELING AMERICA, An Insider’s Journey and articles for The Hill, one of the largest independent political news sites in the United States. He has been interviewed on over 100 radio and television stations from New York City to Los Angeles on numerous energy related topics.
[1] Paraguay (2023) – March 27, 2023, www.worldometers.info
[2] Gross Domestic Product By Country 2022 – Worldometer
[3] The Observatory of Economic Complexity (OEC) – Paraguay
[4] Carbon Brief “Paris 2015: Tracking Country Climate Pledges”
[5] The World Bank Group, Access to Electricity (% of Population) – Paraguay
[6] Our World In Data, Paraguay: Country Profile by Hanna Ritchie and Max Roser
[7] U.S Energy Information Administration (EIA) – Paraguay