North, Central and South America installed nearly 12GW of wind in 2018, according to the Global Wind Energy Council (GWEC), an increase of 12% on 2017.
In North America (Canada and USA) new capacity additions grew by 10.8% compared to 2017, driven by the final extension to the production tax credit.
In Latin America new capacity additions grew by 18.7% compared to 2017.
GWEC director of market intelligence Karin Ohlenforst said: “North, Central and South America will make up about 25% of the total new global capacity in 2018.
“The capacity growth in South America in particular proves how wind is competitive in auction markets.”
Out of the 11.9GW figure of new capacity installed across the Americas in 2018, Brazil installed 2GW and auctioned further capacity at prices as low as $22 per megawatt hour.
Mexico installed almost 1GW of new capacity, the highest capacity additions ever, reaching a total installed capacity of 5GW, putting the country on track to hit its target of generating 35% of power capacity through renewables before 2024.
Latin America is expected to continue its growth with a further expansion of the supply chain during 2019.
GWEC chief executive Ben Backwell said: “The North American wind market is one of the most mature and competitive in the wind industry. Many learnings and experiences from the success here can be used in other markets.”
He said the rise of corporate procurement during 2018 demonstrates how corporate sourcing can drive demand and volume in other wind markets.
Backwell added: “The development of the wind market in Latin America is very positive too. Large scale auctions have again taken place in Brazil, and we expect the first auction in Colombia to be executed this month.
“Further investments in the supply chain by the leading OEMs Vestas and Nordex in Argentina prove the long-term potential of the market.”
In North America, the wind industry supports over 160,000 jobs, according to data from the US and Canadian wind associations.
The North American offshore wind market continues to develop with supply chain planning taking place, tenders for offshore leasing zones being conducted, in Massachusetts, joint venture formations, such as EDF and Shell for the New Jersey leasing zones, and industry players establishing offices.
GWEC expects offshore wind projects to commence construction between 2020 and 2025.