IRENA Launches PARLAC to Accelerate Renewable Energy Transition in Latin America and the Caribbean
The International Renewable Energy Agency (IRENA) has launched a new regional cooperation platform called the Partnership for Accelerating Renewables in Latin America and the Caribbean (PARLAC). This initiative aims to bridge the gap between ambitious long-term energy transition strategies and their practical implementation in the region. PARLAC will support countries in translating these strategies into actionable pathways and investment programs designed to foster socioeconomic benefits. The platform was unveiled during a Global High-Level Forum on Energy Transition in Santo Domingo, co-chaired by Joel Santos, Minister of Energy and Mines of the Dominican Republic, and IRENA's Director-General Francesco La Camera. IRENA estimates significant investment is needed, with Central America requiring around USD 3.5 billion annually through 2050 for power system decarbonization, South America needing approximately USD 500 billion annually for Paris Agreement goals, and the Caribbean requiring about USD 9 billion...