EnergyWatch

Saudis setting eyes on Latin America for renewable-energy push

A Saudi Arabian industrial group has its sights set on the renewables market in Latin America.

Photo: Siemens

Abdul Latif Jameel Co., a Saudi Arabian industrial group involved in everything from auto imports to real estate, is turning its attention to Latin America’s clean-energy market.

The company is focusing on government-organized auctions, where developers vie for long-term contracts to sell power, according to Roberto de Diego Arozamena, chief executive officer at Abdul Latif Jameel's energy unit. Mexico, Chile and Peru offer strong potential for growth in renewable energy, and governments in the region are courting international investors to help diversify the electricity mix.

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