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Energía para el Futuro

Five Takeaways from Advancing Inclusive Energy Transition in Latin America and the Caribbean in 2024

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As we close 2024, the Energy Division Inter-American Development Bank celebrates a year of impactful progress towards a just and inclusive energy transition in Latin America and the Caribbean. Our efforts have successfully impacted and improved lives in countries across the region, from areas such as energy access to the adoption of new technologies to keep innovating.

In addition, we have produced key knowledge products on the region’s energy sector and actively participated in major regional and global energy dialogues. Here are five takeaways from our work this year:

1. Strategic Investments Yield Tangible Results

Our active portfolio, valued at US$4.41 billion, has made significant strides in several key areas:

This portfolio tackles the main areas needing improvement within the Energy Sector.

2. Institutionally aligned Projects drive Remarkable Effectiveness Results

Internally, our portfolio’s operations have been recognized for their significant contribution to advancing the Bank’s regional objectives. For example:

Throughout the year, these results were fully aligned with the Bank’s core objectives, such as addressing climate change, bolstering sustainable growth and reducing poverty and inequality:

Source: Energy Division internal operations

All this has been done by maintaining operations that are 100% aligned with IDB’s focus areas:

3. With seven new IDB Board-approved projects, we delivered tailored solutions to the region’s energy transition challenges

We worked tirelessly to provide financing, knowledge products, and best practices to advance renewable energy, energy efficiency, electrification, and energy access solutions. We prepared and received approval for seven projects for a total of US$1,774 million in IDB financing.

Source: IDB operations You can find out more about these projects here, as well as some of our featured work on our YouTube channel here:

4. Advocacy and Dialogue Shape Global Energy Policies

Throughout the year, the IDB co-organized and participated in diverse fora alongside public, private, and international stakeholders to discuss the challenges and opportunities of LAC’s energy transition, in several high-level events, including:

Our participation in OLADE’S Energy Week, the Berlin Energy Transition Dialogue, G20, and others, was key to continue driving our message that achieving a just and resilient energy transition is already underway for Latin America and the Caribbean, as well as showcasing the Bank’s commitment to helping lending countries achieve it.

5. Knowledge Sharing Drives Innovation and Progress

Cutting-edge knowledge development is a fundamental part of our work. This year, we produced seventeen new publications aimed at informing, guiding, and offering recommendations to policymakers and energy sector stakeholders. These publications are available here, such as:

Reflecting on a year of impactful achievements, the IDB’s Energy Division reaffirms its commitment to fostering a just and inclusive energy transition in Latin America and the Caribbean. The strides made in 2024, through innovative projects, collaborative partnerships, and a robust knowledge agenda, pave the way for a cleaner, more resilient energy future in Latin America and the Caribbean.

As we close this year, we are proud of our accomplishments and remain committed to supporting the regional energy transition. Rest assured; we are determined to continue improving lives through sustainable energy.


Marcelino Madrigal Martínez

Dr. Marcelino Madrigal is currently the Chief of the Energy Division of the Inter-American Development Bank (IDB). In his more than twenty years of experience in the energy sector worldwide, he has served as a former commissioner of the Regulatory Commission in Mexico, as senior energy specialist at the World Bank, as a research professor at the Technological Institute of Morelia and as a member of the national system of researchers in Mexico. Additionally, he was the Chairman of the International Committee of the World Forum of Regulators in 2018 and vice president of the Ibero-American Association of Regulators (ARIAE). Dr. Madrigal has a bachelor's, master's, and a doctorate degree in electrical engineering from the Morelia Institute of Technology, the Autonomous University of Nuevo León, and the University of Waterloo in Canada. He specializes in the operation, planning, market design, regulation, and projects related to the transition and decarbonization of the electric energy sector. He has published more than 10 peer-reviewed technical articles and was the recipient of the Outstanding Young Engineer Award from the Institute of Electrical and Electronics Engineers (IEEE).

Vicente Loyola

Consultant in Energy Economics for the Inter-American Development Bank. He has more than 8 years of professional experience focused on the analysis, management, and development of improvement proposals in the energy sector, with special emphasis on renewable energy, clean technologies, and sustainable mining. He previously worked for the World Bank analyzing and proposing improvements to energy policies in Europe and Central Asia, as well as for the International Institute for Sustainable Development, analyzing the lithium supply chain and electric vehicles. Additionally, he has experience in strategic consulting and project management. He holds a master’s in public administration from Columbia University in New York, as well as master's degree and a bachelor’s degree in economics from the Pontificia Universidad Católica de Chile.

José Irigoyen

José Irigoyen works as a Lead Operations Specialist in the Energy Division of the Inter-American Development Bank. His focus is on the digital transformation and decarbonization and resilience of the energy sector in Latin America and the Caribbean. Previously, he was the Operational Advisor in the Infrastructure and Energy Sector. At the IDB, he also served as Country Coordinator for Haiti in the program for the reconstruction effort after the 2010 earthquake, and I as Coordinator of the Mesoamerica Regional Integration Project. Irigoyen joined the IDB in 2004 as a consultant on citizen security and sustainable tourism. An Argentine citizen, Irigoyen holds a bachelor's degree in economics from the University of San Andrés (Argentina) and a master's degree in economics and finance from the University of Navarra (Spain).

Gabriela Montes de Oca Fehr

Gabriela Montes de Oca Fehr is a Communications Consultant for the Energy Division of the IDB. She has approximately 10 years working in various areas of communication, specializing in topics related to cybersecurity, gender and energy. Before joining the IDB, Gabriela worked for more than five years leading communications for various clients within the technology, education, consumer and cybersecurity sectors in Latin America and the United States. She has a degree in Social Communication from the Andrés Bello Catholic University (Caracas, Venezuela) and a master's degree in Public Relations from Georgetown University.

Lenin H. Balza

Lenin H. Balza es Especialista Senior y líder del equipo de investigación de la División de Energía del Banco Interamericano de Desarrollo. Lenin tiene varios años de experiencia asesorando a gobiernos en América Latina y Caribe en temas relacionados con la energía, infraestructura y desarrollo de recursos naturales. Anteriormente, Balza fue economista de la Oficina del Gerente del Sector de Infraestructura y Energía en el BID, así como en Santander Investment (Grupo Santander), y en la CAF-Banco de Desarrollo de América Latina y el Caribe. Las áreas de interés e investigación de Lenin incluyen economía de la energía, estrategias de desarrollo, y desarrollo económico en países ricos en recursos naturales. El trabajo de Balza ha sido publicado en medios líderes del área, incluyendo el Journal of Development Economics, Ecological Economics y Resources Policy.

Arturo D. Alarcón

Arturo D. Alarcón is a Senior Specialist in the Energy Division of the Inter-American Development Bank (IDB) in Washington, D.C. Since joining the Bank in 2010, he has been involved in the development and oversight of projects related to generation, transmission, distribution, rural electrification, and alternative energies throughout the region. Currently, he supports the technical coordination of the Division, focusing on the expansion of transmission, a just and sustainable energy transition, and decarbonization. He also serves as the focal point for hydropower within the IDB. Arturo holds a Ph.D. in Electrical Engineering, specializing in electric system planning, and a master's degree in Power Systems and Business, both from the University of Strathclyde in Glasgow, UK. Additionally, he is a graduate in Electromechanical Engineering from the Universidad Privada Boliviana. Before joining the IDB, he worked as a researcher at the Energy and Environment Institute at the University of Strathclyde, developing new planning methods for renewable and distributed generation, smart grids, energy storage, and power systems.

Rodrigo Valenzuela

Rodrigo Valenzuela has over 19 years of experience in the preparation, supervision, and execution of energy infrastructure projects in Latin America. He has worked in the private sector overseeing transmission and generation projects in Central America and the Caribbean. Before joining the Bank, he worked in the public sector in Bolivia, where he supervised the construction of hydroelectric projects and led the implementation of the first project management office at Empresa Nacional de Electricidad. At the IDB, he leads the monitoring of the active portfolio of the Energy Division, the effectiveness strategy, and results-based management. He holds a Bachelor's degree in Economics, a Master's degree in Business Administration, a Master's degree in Project Management, and is certified as a Project Management Professional (PMP).

German Guerra

German is a citizen of Ecuador. He holds a degree in Business and International Relations from the Catholic University in Quito and completed his Master's in Business Administration at the American University in Washington, DC. He worked in the private sector, mainly as a project manager in a private equity firm, and later joined the IDB as a full-time operations consultant for the Infrastructure and Energy department. He currently works in the Energy Division as an operations coordinator.

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