Significant Developments Are Indicative of Increasing Global
Financial Interest in Latin American and Caribbean
Renewable Energy Markets
Washington, D..C, April 15, 2014–The American Council On Renewable Energy (ACORE) has decided to postpone its Renewable Energy Latin American and the Caribbean Conference and Exposition (RELACCx) until November 20-21, 2014 to attract increased global financial interest in the Latin and American and Caribbean (LAC) region.
“Our decision was arrived at with concurrence of the RELACCx 2014 co-chairs and our contracted sponsors, and was compelled by a confluence of several essential factors occurring in just the last week,” said ACORE CEO and President, Michael Brower. “…including a joint task force – Global Leaders for Climate and Sustainable Development Financing Action – of the Club de Madrid and the P80 Group Foundation, which has most strongly advocated that RELACCx 2014 would most ably serve as an effective venue for their joint task force leadership’s participation, given an enabling conference date change. This was an opportunity we couldn’t pass up in light of ACORE’s deep, abiding commitment to renewable energy in Latin American and the Caribbean.”
The synergies ACORE will take advantage of include the task force’s objective to mobilize political will to increase the role of public and private sector finance, more specifically pension and sovereign wealth funds, in driving low carbon, climate resilient, sustainable growth and increasing investment in the deployment of proven technologies to address climate change challenges and growing resource shortages in the areas of energy, water, clean air and food. Building such Latin American and Caribbean financial opportunities has always been a core RELACCx 2014 objective.
“Latin America's demand for electricity will double by 2030 and triple by 2050, which will require at least US $350 billion of investment in new power generation assets in the region by 2030 to meet demand,” said Camila Ramos, Managing Director, Clean Energy Latin America (CELA), and a RELACCx co-chair. “High end-user power tariffs and exceptional natural resources mean that renewable energy will play an increasingly important role in supplying the growing energy needs in Latin America. RELACCx will provide an important venue for policy-makers, financiers and project developers to meet and discuss ways to enable the transition towards greater adoption of renewable energy in the region.”
Additional factors that influenced the decision to move the event until November were that several of ACORE’s multi-lateral partners, noting the significance and strategic value of RELACCx 2014 to the region, requested more time to build in more sophisticated, larger side events to bring in more of their regional Latin American and Caribbean stakeholders. Building such Latin American and Caribbean organizational connectivity has also always been a RELACCx 2014 objective.
“Given the challenges of energy independence throughout the region, ensuring the participation of the broadest base of organizations in promoting renewable energy development is critical,” said Dino Barajas, Partner, Akin Gump Strauss Hauer & Feld LLP. “The postponement of the event in order to permit the participation of these organizations will help bring additional voices to the dialogue.”
Matthew Perks, Executive Director of the Caribbean Renewable Energy Forum (CREF), added, “We’re excited to see ACORE and LAC-CORE engaging so closely in the Latin American and Caribbean markets, highlighting opportunities and partnerships for members and key stakeholders. We look forward to many opportunities to collaborate."
The rescheduled and expanded RELACCx 2014 event will take place November 20-21, at the El Conquistador in Fajardo, Puerto Rico. ACORE will continue to work closely with the Club de Madrid and the P80 Group Foundation, LAC-CORE, CREF and other organizations, the RELACCx co-chairs, and the terrific sponsors and speakers who have already agreed and are fully-committed to the program to expand the reach and impact of speaking opportunities, the Investor Workshop, the STEM-focused ACORE Renewable Energy Youth Ambassador Breakfast and other RELACCx side events.
“ACORE remains 100% dedicated to RELACCx 2014, the ACORE Renewable Energy Youth Ambassador Program and to renewable energy in Latin America and the Caribbean,” said Michael Brower. “We are absolutely convinced that by shifting the date, we will bring significantly greater focus on, and recognition of the booming Latin American and Caribbean renewable energy markets.”
ACORE, a 501(c)(3) non-profit membership organization, is dedicated to building a secure and prosperous America with clean, renewable energy. ACORE seeks to advance renewable energy through finance, policy, technology, and market development and is concentrating its member focus in 2014 on National Defense & Security, Power Generation & Infrastructure, and Transportation. Additional information is available at www.acore.org.
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