More investment and regulatory support is urgently needed to encourage the modernisation of hydropower projects in South America, a blog published by the International Hydropower Association suggests.
Written by Arturo Alarcón, Senior Energy Specialist at the Inter-American Development Bank (IDB) and Maria Ubierna, Hydropower Specialist at IHA, the blog says that a recent IDB-IHA study on hydropower modernisation potential and investment needs in the region was recently presented to 500 stakeholders, who were surveyed on opportunities and challenges for modernisation projects.
It points out that more than just over 50% of installed capacity is over 30 years old in the region. The survey indicated that the main barrier for modernisation in the region was access to financing, followed by the regulatory framework.
IDB and IHA have confirmed they will keep collaborating to advance sustainable hydropower in the region, specifically: increasing awareness about modernisation needs and challenges, supporting knowledge sharing on modernisation and creating a platform for dialogue with policy makers and regulators.
