With the wind power markets flatlining in the USA and Europe, Uruguay is set to become the next boom region for clean energy companies looking for new markets.  Uruguay could have as much as 850 megawatts of wind farms by 2015.

According to a Montevideo news source:

Companies including Spain’s Enerfin Sociedad de Energia SA offered to provide power for as low as 62.35 dollars a megawatt-hour, prompting the government to consider buying more wind power. Aeolic energy (wind power) is beating conventional power sources on price in head-to-head contests elsewhere in South America. Wind was the cheapest source of energy in a similar auction in Brazil last month.

About half of Uruguay’s energy needs are met by hydroelectricity; 40 percent by fossil fuels, and 10 percent by biomass.  If Uruguay can manage its energy portfolio well, look for the country to become even more attractive to investors--and become what some observers call the Switzerland of South America.

About The Author

Leon Kaye

Leon Kaye is the founder and editor of GreenGoPost.com. Based in California, he is a business writer and consultant. His work is has also appeared on Triple Pundit , The Guardian's Sustainable Business site and has appeared on Inhabitat and Earth911. His focus is making the business case for sustainability and corporate social responsibility. He's pictured here in Qatar, one of the Middle East countries in which he takes a keen interest because of its transformation into a post-oil economy. Other areas of interest include sustainable development in The Balkans, Brazil and Korea. He was a new media journalism fellow at the International Reporting Project, for which he covered child survival in India during February 2013. Contact him at leon@greengopost.com. You can also reach out via Twitter (@LeonKaye) and Instagram (GreenGoPost). As of October 2013, he now lives and works in Abu Dhabi, United Arab Emirates.