A Cornwall Insight and Turner & Townsend report commissioned by the UK Embassy for Bolivia was presented by COP 26 President Alok Sharma MP to the Bolivian President, Luis Arce. The report –The development of a national energy transition strategy for Bolivia (2021-2051) – provided an assessment of the country’s current energy status and key recommendations for decarbonisation.
The commissioned report used scenario analysis for the operation of power in conjunction with extensive research into policy, regulatory, market design and asset development. The research shows that it is possible to achieve an operational capacity of 2GW of renewable energy in Bolivia.
- Bolivia is ideally placed to undertake a successful transition.
- It has the potential to achieve 2GW of renewable energy by 2030.
- A transition would represent a sustainable and economic opportunity for the country.
- Bolivia has high levels of natural resources, which can be developed to fund the energy transition or used to create energy storage.
- It has the potential to export additional gas supplies if renewable capacity replaces gas-based power plants.
Mark Wainwright, Lead Director at Turner & Townsend, commented:
“Our strong relationship with the British Foreign Commonwealth & Development Office, together with our presence and understanding of the local and regional market, allowed our organisation and Cornwall Insight to develop what we consider to be an important step in the Bolivian energy transition. The conclusions of the report showed great promise with significant renewable power potential within the decade. The roadmap forward contained in the report succinctly showed areas for focus to realise these goals, and we look forward to more interaction in supporting Bolivia in the progression of this strategy and showcasing the British government’s role in support of developing economies, as COP26 nears.”
Peter Connolly, Group Commercial Partner and Managing Director for Ireland and Scotland at Cornwall Insight, said:
“This was an exciting piece of work, and we were delighted to work alongside Turner & Townsend.
“Bolivia is in a prime place to achieve an energy transition with our report showing an operational capacity of 2GW of renewable energy by 2030 is achievable. A transition of this kind will not only benefit the country’s environment but unlock the potential for a flow of capital investment, which is key to developing the Bolivian economy.”
About the Cornwall Insight Group
Cornwall Insight is the pre-eminent provider of research, analysis, consulting and training to businesses and stakeholders engaged in the Australian, Great British and Irish energy markets. To support our customers, we leverage a powerful combination of analytical capability, a detailed appreciation of regulation codes and policy frameworks, and a practical understanding of how markets function.
About Turner & Townsend
Turner & Townsend is an independent professional services company specialising in strategic advisory services, programme management, project management, cost and commercial management across the real estate, infrastructure and natural resources sectors.
With 112 offices in 46 countries, we draw on our extensive global and industry experience to manage risk while maximising value and performance during the construction and operation of our clients’ assets. www.turnerandtownsend.com