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Renewable Energy Transitions in Latin America and the Caribbean

Buenos Aires |
Speakers include:
Benedict Mander

Benedict Mander

Financial Times

Tonci Bakovic

Tonci Bakovic


Gabriel Goldschmidt

Gabriel Goldschmidt



Latin America and the Caribbean have seen a dramatic expansion of renewable energy investment in recent years, with a growing number of governments setting ambitious renewable energy targets and opening up their markets for private investors keen to develop new clean energy sources. Yet success has also come with challenges, with rapid deployment leading to over-supply in some areas, and transmission infrastructure under strain. Reforms and investment, including in energy storage solutions and transmission, will be needed to ensure renewable development is financially as well as environmentally sustainable.

In this invitation-only FT-IFC energy infrastructure event, senior executives and decision-makers from across the region will discuss and review the next big challenges for the region’s energy markets – including the impact of low-cost energy on business planning, ways to incorporate energy storage technology, and next steps for Argentina following its recent successful auction process.

fallback Add to my Calendar 09/07/2017 13:30:0009/07/2017 18:30:00falseRenewable Energy Transitions in Latin America and the CaribbeanLatin America and the Caribbean have seen a dramatic expansion of renewable energy investment in recent years, with a growing number of governments setting ambitious renewable energy targets and opening up their markets for private investors keen to develop new clean energy sources. Yet success has also come with challenges, with rapid deployment leading to over-supply in some areas, and transmission infrastructure under strain. Reforms and investment, including in energy storage solutions and transmission, will be needed to ensure renewable development is financially as well as environmentally sustainable.In this invitation-only FT-IFC energy infrastructure event, senior executives and decision-makers from across the region will discuss and review the next big challenges for the region’s energy markets – including the impact of low-cost energy on business planning, ways to incorporate energy storage technology, and next steps for Argentina following its recent successful auction process.Renewable-Energy-Transitions-in-Latin-America-and-the-Caribbean846c856ca12828ae873131e0ac918f71MM/DD/YYYY

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Benedict Mander

Benedict Mander

Southern Cone Correspondent
Financial Times

Benedict Mander is the Southern Cone Correspondent for the Financial Times. He was previously the FT’s Venezuela and Caribbean correspondent, based in Caracas. He joined the FT in 2005, covering the Southern Cone from Mexico. Prior to this Mr Mander wrote for Euromoney, the Daily Telegraph, Investors Chronicle and Rough. He holds a BA degree in Modern and Medieval Languages from Cambridge University.

Tonci Bakovic

Tonci Bakovic

Chief Energy Specialist, Infrastructure and Natural Resources Department

Tonci Bakovic Is the Chief Energy Specialist of IFC. He has 25 years of experience in debt and equity investments in the global power sector.  His main area of work is in deregulated power markets where he has worked in the financing, investment and acquisition of power businesses in the UK, Brazil, Turkey, Philippines, India, Chile, Colombia, Peru, Panama, Romania, Poland and now Mexico. He has also worked in the structuring of important projects in Africa such as the financing of the Bujagali Hydro in Uganda, the successful capitalization and later listing of the Umeme distribution company in Uganda and the financing of the Kenya Power and Light Company.  His present area of work is in gas-to-power projects in Philippines, Mexico, Nigeria and Myanmar, and on cross-border hydroelectric projects in Georgia, Bhutan and Nepal.  Before joining IFC, Mr Bakovic  was the Manager for Business Development for Dominion Energy (Virginia Power) where he spearheaded the development and acquisition of close to 2,000 MW of power plants in South America that were latter sold to Duke Energy.  Before joining Dominion Energy, he was the World Banks' coordinator for the energy reform and capitalization process in Bolivia where he was in charge of drafting the Electricity Law and spearheaded the successful private subscription of new shares on the country’s energy companies and cross-border pipeline projects.  Prior to joining the World Bank, Mr Bakovic was a Senior Consultant at the Ernst & Young Energy Group in Washington DC where he advised global clients on mergers and acquisitions, rate cases, independent private power (IPP) development, and merchant plant financing.  He has undergraduate degrees in Mechanical Engineering and Mathematics, and Master’s degrees in Industrial Engineering and Finance from the University of Maryland and University of Michigan respectively.


Gabriel Goldschmidt

Gabriel Goldschmidt

Regional Head for Infrastructure, Latin America & the Caribbean

Gabriel Goldschmidt is IFC’s Head for Infrastructure in Latin America and the Caribbean. He oversees IFC’s strategy and investments in the infrastructure sector in this region, including ports, logistics, power, water. Mr Goldschmidt coordinates a decentralized team based in nine countries across the region and in Washington, DC. IFC investments in infrastructure represent more than 40 percent of IFC’s total operations in the region.

Mr Goldschmidt joined IFC in 1993 initially focusing on global infrastructure.  Since 2007, he has been expanding IFC’s support to infrastructure projects in Latin America and the Caribbean, first based in Brazil, and since 2010 in Washington, DC. He is a member of the IFC global infrastructure and natural resources management team.

Prior to joining IFC, Mr Goldschmidt was Deputy Treasurer at Banque La Henin, a real estate specialized bank in Paris, France. Mr  Goldschmidt, a national from Argentina, holds a CPA from the University of Buenos Aires, a Master’s degree  in Economics from the University of Paris and an MBA from the Wharton School, at the University of Pennsylvania.

José Escobar

José Escobar

General Manager

José Ignacio Escobar is the General Manager of ACCIONA Energia for South America, a position he has held since 2014. Based in Chile, he leads business development for Argentina, Colombia and Peru. ACCIONA Energia is the biggest global energy company operating exclusively in the renewable energy sector, present in over 20 countries on five continents. Mr Escobar is also the President of the Chilean Association of Renewable Energy (Acera) where he has been collaborating actively since its foundation. Mr. Escobar has a degree in Industrial Engineer from Pontificia Universidad Católica de Chile and holds a Master's degree in Economic Regulation from Universidad Adolfo Ibáñez.

Sebastián Kind

Sebastián Kind

Undersecretary of State – Renewable Energy
Ministry of Energy and Mines, Argentina

Sebastián Kind is a Mechanical Engineer from the National Technological University of Argentina (UTN). He has a Master’s degree in Renewable Energies from EUREC Agency in Brussels (Belgium), from Zaragoza University in Spain and from Athens National Technological University in Greece. Mr Kind also has a degree in management development from IAE Business School (Argentina) and different courses on energy and environment at Harvard University, among others.

He has more than 15 years of experience in the renewable energy industry. He has developed and is Director of the Master of Science in Renewable Energies at the UTN and was advisor of the National Honorable Senate. He had a remarkable role in Senator Guinle’s team, helping through the process of passing the new Argentinian Renewable Energies law, which was approved in September 2015.

Mr Kind has been an advisor of wind power projects for many public and private institutions such us the Ministry of Energy and Mines of Uruguay, Ministry of Energy of Chile and for the German Agency of Cooperation GIZ in subjects related to Renewable Energies and tender processes. He has carried out executives positions in the private sector, in London as well as in Buenos Aires. Mr Kind has published more than 40 papers and dissertations on international congresses.

Carlos  Pascual

Carlos Pascual

Senior Vice President, Global Energy
IHS Markit

Carlos Pascual, former senior US diplomat and most recently the State Department’s top energy official, joined IHS in January 2015 as Senior Vice President to focus on global energy issues and international affairs. As the US Energy Envoy and Coordinator for International Energy Affairs, Mr Pascual established and directed the new Energy Resources Bureau at the State Department and was Senior Advisor to the Secretary of State on energy issues. He had previously been US Ambassador to both Mexico and Ukraine, and was Special Assistant to the President for Russia, Ukraine and Eurasia on the National Security Council.Mr Pascual created the position of Coordinator for Reconstruction and Stabilization, establishing the State Department’s first civilian response capacity to conflicts.  He also was the State Department’s coordinator for US assistance to Europe and Eurasia. From 1995 through 2000, Mr Pascual served as Special assistant to the President and successively as Director and then Senior Director for Russia, Ukraine and Eurasia at the National Security Council. Mr Pascual has also held leadership roles at the US Agency for International Development, including as Deputy Assistant Administrator for Europe and Eurasia, Chief of Policy and Strategy for Africa, and in field postings in Mozambique, South Africa and Sudan. During his time at the Brookings Institution, Mr Pascual served as both Vice President and Director of Foreign Policy Studies and launched the Brookings Energy Security Initiative. Mr Pascual received his Masters of Public Policy degree from the Kennedy School of Government at Harvard University and his Bachelor of Arts degree from Stanford University. His book, Power and Responsibility, won a 2009 award for the best political science book published by an independent publisher.

James Lee Stancampiano

James Lee Stancampiano

Head of Business Development South America
Enel - Global Renewable Energies

James Lee Stancampiano is Enel’s Head of Business Development for South America, covering Brazil, Chile, Argentina, Peru, Colombia, and Uruguay. He has held this position since 2016. Mr Stancampiano’s career at Enel began in 2009 when he joined the company as Head of Business Development in Romania. By the end of 2012, he had moved to Chile as Head of Business Development South Cone, entrusted with Enel Green Power’s (EGP) Renewables portfolio in Chile, Perú, and Colombia, and, as of 2014, Uruguay when he led Enel’s introduction into the country. During his time at Enel, Mr Stancampiano has managed the acquisition and development of more than 50 projects covering 4 different technologies –Wind, PV, Hydro, and Geothermal, achieving over 2,500 MW of installed capacity, currently operating in the Group’s portfolio. His 12 years of experience with energy projects started initially in 2005 when he worked on the European Commission’s project for Research, Development, and Dissemination of Renewable Energy Technologies. Between 2005 and 2009 he held positions in different international companies, where he was entrusted with activities aimed at promoting renewable plants and implementing power efficiency in Europe, North Africa and the Middle East. Mr Stancampiano holds a Master of Science degree in Environmental Economy from the University of Siena

Luiz Barroso

Luiz Barroso

Chief Executive Officer
Empresa de Pesquisa Energética-EPE

Luiz Barroso is the CEO of the Energy Research Office, the government-agency that runs all energy planning studies in Brazil. He has held this position since July 2016.  Prior to this, he was the Technical Director of Power Systems Research (PSR), a private and global consulting company and research center that provides technological solutions and consulting services in the energy sector worldwide. Mr Barroso has work experience in more than 30 countries in the field of market consultancy, system optimization, finance, regulatory assessment. He also has lecturing experience in more than 10 universities worldwide including the University of Comillas, Spain – where he is an Associate Researcher – MIT, and the Florence School of Regulation. He has published extensively in peer-reviewed journals worldwide and chairs the Power System Operations, Planning and Economics Committee of the IEEE PES. Mr Barroso has a BSc in Mathematics and MSc and DSc degrees in Operations Research. 

Juan Carlos Olmedo

Juan Carlos Olmedo

Former President and Board Member
Brian Perusse

Brian Perusse

Executive Vice President
AES Energy Storage
Bernardo Vargas

Bernardo Vargas

ISA - Interconexion Electrica S.A. ESP

Bernardo Vargas is the CEO of ISA, a leading Latin American company focusing on four different businesses: Electric Power Transmission; Information and Communication Technology; Road Concessions; and Real-Time System Management where it acts as an independent system operator for the Colombian electric power system. Founded in 1967, ISA operates through 33 affiliated companies in 9 countries in Latin America and more than U $12.8 billion in assets as of year end 2016. Previously, Mr Vargas was Founding Partner of Nogal Asesorias Financieras, an investment banking advisory boutique in Colombia specializing in local and cross-border M&A. During his more that fourteen years at Nogal, Mr Vargas led multiple transactions in sectors such as agroindustry, pharma, autoparts, paper and packaging, mining, oil and energy among others.He has also served as Director of several Boards in both for profit and not-for-profit corporations and Foundations, such as: ISA S.A. E.S.P, Amarilo S.A,The Pantaleon Group Inc, Best Buddies, Colombia and  Lumni Colombia, among others. Before founding Nogal in 2001, Mr Vargas was Managing Director at ING Barings where he headed the corporate and investment banking operations in Colombia. Mr Vargas joined Baring Securities in 1994 as Head of Colombia and was subsequently appointed as President and CEO for the merged operations of Barings and ING Colombia on January 1997.Prior to  Barings, Mr Vargas was Founder and CEO of Proexport Colombia, the nation’s export promotion agency and Founder and  CEO of Fiducoldex a local trust bank affiliated to Bancoldex. He also acted as Advisor to then Minister of Foreign Trade, Mr Juan Manuel Santos, now President of Colombia.Mr Vargas has also previously served as Head of the External Financing and Foreign Reserves Department at the Colombian Central Bank (Banco de la República). In this position, Mr Vargas was responsible for managing the portfolio of Colombia’s foreign reserves. Mr Vargas obtained an MBA from Columbia University and an Economics BA and MS from Universidad de Los Andes, in Bogotá, Colombia

Montserrat Ramiro Ximénez

Montserrat Ramiro Ximénez

Energy Regulatory Commission, Mexico

Montserrat Ramiro Ximénez is a Commissioner at the Energy Regulatory Commission, Mexico. She was appointed Commissioner by the Mexican Senate in September 2014, for a five-year period.

Ms Ramiro has nearly 20 years of experience in the energy industry and environmental sector. She started her career in the public sector at the Ministry of Environment and Natural Resources. Subsequently, she worked as consultant on topics related to energy and environment, both in Mexico and in the United States. Between 2005 and 2013, she served in several areas of Petróleos Mexicanos (PEMEX), including the Planning and Performance for Economic Development unit, the Corporate Office of Finance and the subsidiary PMI Group. From 2013 to 2014, she worked as Director of Energy at the Mexican Institute for Competitiveness. Ms Ramiro holds a degree in Economics from the Instituto Tecnológico Autónomo de México. She also has a Master’s degree in Economics from the University College London, where she specialized in Environmental Economics and Natural Resources. Additionally, she has a graduate diploma in Finance and Corporate Social Responsibility from Harvard University.

Bernard Sheahan

Bernard Sheahan

Global Director of Infrastructure and Natural Resources

Bernard Sheahan is Global Director of Infrastructure and Natural Resources at IFC, the largest global development institution focused exclusively on the private sector. He is responsible for IFC’s investments in power, transport, utilities, and extractive industries. Mr Sheahan joined IFC in 1986, and has previously served as Director of IFC’s Infrastructure Advisory Department and IFC’s Director of Strategy. He holds a Bachelor’s degree from Dartmouth College and an MBA from Harvard University.


Agenda - 7th Sep

  • 1:30pm
    Opening remarks from the FT Chair


    Benedict Mander, Southern Cone Correspondent, Financial Times

  • 1:40pm
    Welcome from IFC

    Bernard Sheahan, Director, Infrastructure & Natural Resources , IFC

  • 1:50pm
    Scene Setter: Energy market trends and their implications

    Global energy markets are in a state of flux, with consequences for governments worldwide who are working to improve access to clean, reliable, and affordable power and energy services. Our speaker will review the forces at play in oil & gas, renewable energy, and storage technology and assess the implications for Latin America and the Caribbean.

    Carlos Pascual, Senior Vice President, Global Energy, IHS Markit

  • 2:20pm
    Discussion: Navigating a low-cost energy environment

    Historically low energy prices, for both fossil fuels and renewable power, have important consequences for industry leaders and policy-makers across Latin America and the Caribbean. For discussion:

    • Is cheap energy here to stay or should we brace for cyclicality?
    • What are the implications of today’s price points for long-term planning in the power sector?
    • How do you manage for lower margins of error in a low-price environment?

    Luiz Barroso, CEO, Empresa de Pesquisa Energética-EPE

    Juan Carlos Olmedo, Former President and Board Member, CDEC- SIC

    Esteban Piedrahita, Chief Financial Officer, Celsia

    James Lee Stancampiano, Head of Business Development South America, Enel-Global Renewable Energies

    Moderator: Gabriel Goldschmidt , Regional Head for Infrastructure, Latin America & the Caribbean, IFC

  • 3:20pm
    Networking coffee break
  • 3:50pm
    Discussion: Energy storage – the answer to over-supply or a long shot?

    Stationary energy storage has enormous potential to grow in Latin America and the Caribbean, given the region’s commitments to renewable energy and potential for scale-up. Yet barriers remain from high prices, underdeveloped grid infrastructure, and inappropriate regulatory frameworks. For discussion:

    • Where are the greatest opportunities for energy storage in the region?
    • What are the emerging business models and returns on investment for energy storage?
    • How can regulations and market rules be refined to boost participation in energy storage?

    José Ignacio Escobar, General Manager, Acciona Energía Chile

    Brian Perusse, Vice President, AES Energy Storage 

    Otto van Troschke, Chief Investment Officer & Co-Founder, SUSI Partners

    Bernardo Vargas,  CEO , ISA 

    Montserrat Ramiro Ximénez, Commissioner, Comisión Reguladora de Energía (CRE) 

    Moderator: Tonci Bakovic, Chief Energy Specialist, Infrastructure and Natural Resources Department, IFC

  • 4:50pm
    Interview: Next steps for Argentina

    What are the next steps for Argentina following its successful renewable energy auctions? To what degree will further growth be constrained and what lessons should the country draw from its neighbors’ recent experiences with renewable energy scale-up?

    Sebastián Kind, Undersecretary for Renewable Energy, Argentina

  • 5:30pm
    Close of forum & reception


Alvear Palace Hotel
Avda. Alvear 1891
Buenos Aires




For accommodation options located near the venue, please click here


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The Financial Times is one of the world’s leading business news organisations, recognised internationally for its authority, integrity and accuracy. Providing essential news, comment, data and analysis for the global business community, the FT has a combined paid print and digital circulation of 840,000. Mobile is an increasingly important channel for the FT, driving more than half of total traffic.

IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector in emerging markets. Working with 2,000 businesses worldwide, we use our six decades of experience to create opportunity where it’s needed most. In FY16, our long-term investments in developing countries rose to nearly $19 billion, leveraging our capital, expertise and influence to help the private sector end extreme poverty and boost shared prosperity.We utilize and leverage our products and services—as well as products and services of other institutions in the World Bank Group—to provide development solutions customized to meet clients’ needs. We apply our financial resources, technical expertise, global experience, and innovative thinking to help our partners overcome financial, operational, and political challenges.IFC is also a leading mobilizer of third-party resources for its projects. Our willingness to engage in difficult environments and our leadership in crowding-in private finance enable us to extend our footprint and have a development impact well beyond our direct resources.

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