The World Energy Council has convened more than 170 delegates from 18 countries in Rio de Janeiro, Brazil, July 12 and 13, to discuss the future of the energy sector, including hydropower.
A key emphasis of this meeting is the impact of the falling oil price and the effect this is having on exports, especially in economies that are heavily reliant on them, WEC says. Focusing on the outlook for the region to 2035, there will be discussions on the impact of falling revenues and national gross domestic product growth on the development of new and renewable energy sources following the historic climate agreement in Paris.
The meeting is being headed by His Excellency Fernando Coelho Filho, the Minister of Mines and Energy for Brazil, and Ernesto Samper, Secretary General of UNASUR and ex-president of Colombia. They are joined by “energy leaders from three regional governments, 11 international organizations and chief executive officers and senior figures from the hydropower, electricity, renewable and finance sectors,” WEC says.
“This is a critical time for the energy sector globally and regionally,” said Christoph Frei, secretary general of WEC. “We have seen in Latin America that commodity price pressure and exchange rate volatility has created significant uncertainty for national governments, businesses and consumers alike. This uncertainty is impacting future investment plans and technology choices for the energy sector.”
The objective is to bring together ideas and solutions from across the region to be taken to the 23rd World Energy Congress, which will be held Oct. 10 to 13 in Istanbul, Turkey. The event is being organized by WEC and its Brazilian member committee in partnership with CAF, Petrobras and Eletrobras.
WEC is an “impartial network of energy leaders and practitioners promoting an affordable, stable and environmentally sensitive energy system for the greatest benefit of all.”