Here are the five largest construction projects initiated in South and Central America during Q4 2021, according to GlobalData’s construction projects database.
1. Payara Deepwater Oil Field Development – $9,000m
The project involves the development of Payara deepwater oil field on the Stabroek block, about 200km offshore from Guyana.
Construction work started in Q4 2021 and is expected to be completed in Q4 2024.
The Guyana Basin is a relatively unexplored area with very few drilling activities being carried out.
2. Horizonte Wind Park 778 MW – $850m
The project involves the construction of the Horizonte wind park on 8,000ha of land in Taltal, Antofagasta, Chile.
Construction work commenced in Q4 2021 and is expected to finish in Q4 2024.
The objective of the project is to increase renewable power generation capacity and meet the growing demand for power in the region.
3. Parque Eolico Beta 280 MW – $438m
The project involves the construction of a wind power plant of 280MW in La Guajira, Colombia.
Construction work started in Q4 2021 and is forecast to complete in Q4 2022.
The main objective of the project is to provide clean energy using renewable sources and meet the growing industrial and residential demands in the region.
4. Sierra Gorda Photovoltaic Plant 375 MW – $400m
The project involves the construction of a photovoltaic plant in the commune of Sierra Gorda, Antofagasta, Chile.
Construction work commenced in Q4 2021 and is expected to be completed in Q4 2023.
The objective of the project is to sustainably take advantage of the existing solar potential in the area and meet the growing demand for energy in the region.
5. Mexicali Oriente Multi-Fuel Power Plant 400 MW – $365m
The project involved the construction of a solar power plant in Puerto Penasco, Sonora, Mexico.
Construction work started in Q4 2021 and is expected to be completed in Q4 2023.
The plant will operate continuously during the summer months however the rest of the year it will be used to provide a balancing service for the grid.
This analysis is drawn from GlobalData’s global construction projects database, which tracks new construction projects over $25m from announcement to completion.
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