Mapping state and private actors in energy generation in South America: an empirical analysis based on Global Energy Monitor

Abstract

This article maps the ownership and control structure of operating power generation plants in South America and analyzes, from an interpretive perspective, how the institutional heterogeneity it reveals relates to the challenges of regional energy integration. Using public data from the Global Energy Monitor (October 2025 database), 5,795 operating plants across the twelve South American countries were examined, covering six generation segments: hydropower, gas- and oil-fired thermal power, solar, wind, coal, and bioenergy and cogeneration. The methodology is based on the standardization of ownership information at the asset level and the classification of controllers into state-owned, private, and mixed categories, while also distinguishing the national or foreign origin of capital, according to predominant economic and decision-making control. Two metrics are used: plant count (presence) and installed capacity (systemic relevance). The results reveal three governance models — statist, hybrid, and liberalized — and a systematic gap between numerical presence and systemic weight: private capital dominates the number of projects, especially in variable renewables, while state and mixed control remains decisive in installed capacity, anchored in large hydropower plants. The mapping provides a comparable and replicable basis for debates on South American energy integration.