Uruguay’s state utility UTE has commenced construction of the Melo Photovoltaic Park in Cerro Largo department, marking the country’s largest solar installation to date. The project signals Uruguay’s strategic push to diversify its renewable energy matrix beyond hydroelectric and wind sources, with two additional solar parks planned for announcement before year-end. The development positions Uruguay […]
Uruguay’s government announced it will review fuel prices again before the end of April for potential May adjustments, following a 7% increase implemented in April due to escalating oil prices from Middle East conflict. The emergency subsidy program, which prevents full pass-through of international price shocks, carries an estimated monthly fiscal cost of $30 million
Uruguayan economic growth projections have undergone successive downward revisions over a two-month period, falling from 1.97% in February to 1.3% in April according to the Central Bank’s latest survey of analysts, consultancies, banks and pension funds. The deterioration in expectations reflects both global headwinds from the Middle East conflict and domestic economic underperformance following 2025’s
The Ute Mountain Ute Tribe is seeking investment partners for a multi-phase solar development program totaling 500 MW across Colorado, New Mexico and Utah, leveraging proven experience from its initial 1 MW casino facility. The project pipeline includes a near-term build south of the Colorado-New Mexico border, with timelines dependent on securing financing for the
Ute Mountain Ute Tribe Targets 500 MW Solar Build-Out Across Three States Read Post »
Uruguay’s government is evaluating an alternative site within Paysandú department for HIF Global’s green hydrogen facility, aiming to defuse diplomatic friction with Argentina while preserving what would become the country’s largest-ever private investment. The relocation discussions occur as negotiations over electricity pricing—representing roughly 70% of operational costs—remain the primary obstacle to finalizing the project. Paysandú
Uruguay maintained one of the cleanest electrical grids in Latin America in 2025, generating 98% of its electricity from renewable sources despite an 8% drop in total generation. The country’s evolving energy trade with neighboring Argentina and Brazil signals shifting dynamics in regional electricity markets and growing internal demand, particularly in industry and transport sectors.
UTE successfully placed negotiable debt securities totaling US$179 million via the Bolsa Electrónica de Valores (Bevsa). The issuance, structured in Unidades Indexadas (UI) and Unidades Previsionales (UP) with maturities up to 25 years, garnered demand exceeding supply by almost twofold, reinforcing investor confidence ahead of a sizable investment push. UTE executed a debt issuance program
QatarEnergy and Chevron have entered Uruguay’s offshore hydrocarbon exploration through farm-in agreements with Shell, signaling increased international confidence in the region’s potential despite enduring geological uncertainties. Exploration activities slated for 2026, including seismic surveys and exploratory drilling, aim to de-risk prospects in Uruguay’s offshore basins as the country seeks to develop a domestic oil and
Uruguay initiated a new phase in offshore hydrocarbon exploration with a projected $270 million investment for 2027, focusing on seismic studies and exploratory drilling in seven designated Atlantic Ocean blocks. While the probability of discovering commercially viable oil is estimated at 25%, economic models suggest significant fiscal benefits if reserves are confirmed, though environmental concerns
