Bolivian Energy Minister: Lithium is a destination for foreign investments and ambitious plans for energy transformation

2025/02/12 3:31:19 PM

2 minutes read

Dubai, February 12 / WAM / His Excellency Alejandro, Daviso, Minister of Hydrocarbons and Energy in Bolivia, confirmed that his country adopts an ambitious policy in energy transformation, aiming to enhance renewable energy sources and benefit from its natural resources, foremost of which is Lithium.
He stressed – in his speech to the Emirates News Agency “WAM” during his participation in the World Summit on Governments in Dubai – the importance of this international meeting that focuses on development and technological innovation, while giving priority to the well -being of peoples.
Palvizo pointed out that Bolivia is currently dependent on an energy mix consisting of 67% of thermal energy and 33% of renewable energy, but it has developed an ambitious plan that extends until 2033, aiming to raise the proportion of renewable energy to 65%.
He explained that this plan focuses on expanding solar energy capabilities, wind energy, and hydroelectric energy, taking advantage of the natural resources of Bolivia, such as high solar radiation levels in the western regions and air density in the eastern regions.
The minister added that Bolivia is one of the countries that possess the largest reserves of lithium in the world, which gives it a strategic advantage in achieving a sustainable energy transmission, as the availability of lithium contributes to developing the necessary storage capabilities to enhance the stability of renewable energy sources.
With regard to investments, Balviso revealed that Bolivia adopts an active policy in attracting international investments, especially in the field of lithium.
He explained that there are international companies, including Russian and Chinese companies, which have reached advanced stages of negotiations to obtain final approvals.
He pointed out that one of the companies invested in the lithium sector has the support of an investment fund from the UAE, which opens the way for strategic partnerships between the two countries.
The Minister stressed that the Bolivian president’s vision focuses on promoting manufacturing as an alternative to import, noting that cooperation with international partners must be based on the principle of mutual benefit, so that Bolivia benefits from the experiences and investments of other countries, while ensuring that added value is achieved through local manufacturing, Instead of just exporting raw materials.
As for cooperation with the UAE, Balfizo confirmed that Bolivia conducted several meetings with Emirati companies interested in investing in renewable energy.
He pointed out that the geographical location of Bolivia, as the heart of Latin America, gives it great potential to export clean energy to neighboring countries, which enhances the opportunities for international cooperation in this sector.
Within the framework of strengthening this cooperation, the minister announced the organization of a specialized workshop in the near future, which will address three main axes: the oil and gas sector, where the focus will be on refining and distribution operations, the renewable energy sector, especially solar energy, wind energy and electrical energy, and finally the lithium sector, Where investment opportunities and cooperation with international companies and Emirati investment funds will be reviewed.