Solar and energy storage Uruguay
As the country transitions to the second stage of decarbonization of its energy matrix and looks to increase energy exports, there will be new opportunities for companies that can provide solutions
In 2005, Uruguay initiated a dramatic shift in its energy strategy, moving from petroleum-based electricity generation to renewable sources. In 2024, Uruguay generated 99 percent of its electricity from renewable sources using hydropower (42 percent), wind (28 percent), and biomass (26 percent).
Uruguay receives an average 1,700 KW per square meter of sunlight a year, on par with Mediterranean countries although solar represents only a fraction of the country's total electricity production. Uruguay's Investment Promotion Law offers incentives for investing in solar manufacturing, systems implementation, and solar energy utilization.
According to preliminary 2024 data from Uruguay's Ministry of Industry, Energy and Mining (MIEM), national energy production reached 17,202 GWh, marking a rebound from the downward trend observed in 2023. Of the total production, 15,175.8 GWh was used to meet domestic demand, while 2,026.2 GWh was exported.
Uruguay's efforts create substantial opportunities for investment and development in the EV charging network, including the installation of new charging stations, upgrades to existing infrastructure, and the integration of smart charging solutions. Uruguay is actively pursuing offshore oil exploration.
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