Solar Manufacturing in Paraguay: The Itaipu Energy Advantage
This analysis explores the unique financial case for establishing a solar module factory in Paraguay, where the industrial backbone is powered by immense, cost-effective
The capital of Paraguay, Asuncion. The country has not announced any grid-scale energy storage projects to-date. Image: CC / Mariano Mantel. Investment firms PASH Global and ERIH Holdings have formed a joint venture (JV) to develop utility-scale solar and battery storage projects in Paraguay.
Solar energy, in particular, is seen as a vital addition, taking advantage of Paraguay's abundant sunlight to reduce pressure on its hydropower resources. The government also plans to harness bioenergy through biomass and biogases, tapping into organic waste and agricultural byproducts as fuel sources.
A critical component of Paraguay's energy vision is hydrogen fuel production. The country's rivers, especially the Paraná and Paraguay, are vital trade routes and key to the country's energy strategy. Approximately 80% of Paraguay's foreign trade passes through these rivers, providing a direct link to the Atlantic Ocean.
The policy is expected to enhance Paraguay's energy resilience, foster innovation, and contribute to global sustainability goals. Paraguay has long been known for its reliance on renewable energy. Nearly 100% of its electricity is generated from hydropower, mainly through the Itaipu and Yacyretá dams.
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