South America is a diverse continent with diverse people, culture and energy resources. Though the region may be made up of several countries, this part of the world unites in helping out each other to make it through some crisis. Some countries in Latin America have excellent deposit of renewable power energy as well as hydropower capacity. On the other hand, there are some nations that are suffering from shortage of these, their neighbors readily ship what resources their neighbor do not have. Supply of power energy or electricity in particular is scarce for some countries like Brazil. The electrical consumption continues to increase as well as the demand for electricians in the country. However, sources of electricity are running scarce.
Power production is an area of abundance and expertise for one particular Latin American country: Bolivia. The country has several hectares of high wind areas, gas deposits, petrol fields, a geothermal and hydropower potential and capacity and relatively huge capacity for solar radiation. These conditions are ideal for power production. Bolivia has been wise in gaining investment from both local and foreign investors in order to further its development in its energy sector. This move by the government has precise, clear and positive results.
It was reported last year by the World Energy Council (WEC) that Bolivia was among the best places in the entire world where there is security in energy. The minister of Bolivia for energy and hydrocarbons announced that the country was seventh in the entire world in energy security matters.
What does energy security mean? This pertains to a country having enough power for both household as well as industrial consumption. It is very self sufficient and generates energy more than it really needs. Those ahead of Bolivia are Canada, Qatar, Colombia, Denmark and Russia.
The current demand of energy in Bolivia is approximately 1200 MW while the energy produced by the country is amounting to 1600 MW. The most practical way of maximizing the energy surplus is by exporting to its neighboring countries in South America.
Bolivia has already made agreements with the government of Argentina to export electricity to the country this year.