Renewable Energy Market Trends in Latin America

Despite the current Latin America’s economic and political challenges, multinationals continue pouring into the region, particularly due to its unique opportunities to meet climate commitments and targets and reduce their global carbon footprint.   

For law firms, this meant that the M&A and projects market has been particularly active in the energy sector, predominantly driven by investments in renewables. In Chile, in particular, key players in this market continue to invest in the development of solar and wind plants as well as decarbonisation projects.  

In a nutshell, the surge in energy and renewables projects in Latin America has created a dynamic legal landscape that demands specialised legal expertise. Law firms are crucial in facilitating investments, navigating regulatory challenges, ensuring compliance, and providing solutions to the complex legal issues arising from these projects. As the region continues to embrace renewable energy solutions, law firms will play a central role in shaping the legal frameworks that support this transformation.  

Finally, I want to briefly mention how vital compliance and risk management have become for multinationals and local businesses in Latin America, due to its diverse and ever-changing regulatory environment and increased emphasis on ethical practices.  

A particular flashpoint for white-collar crime practitioners in Chile is the new economic crimes bill. The Bill seeks to expand the criminal liability of companies and introduces new crimes against the environment.

Naturally, in response to this law and what it means for businesses, the need for robust compliance programmes is again in the spotlight, and we have already started to see several law firms who are paving the way by strengthening their compliance practices either through alliances, internal promotions or lateral hires.  

To watch the full Chambers Latin America 2024 Guide launch, click here.