The president of the National Electricity Administration (ANDE), Félix Sosa, stated that Bitcoin (BTC) can become the main ally of Paraguay’s energy development. He made these remarks during the Accelerating Bitcoin event, organized in Asunción by Penguin Group, the first event in the country dedicated exclusively to this industry.
Sosa explained that the institutional strategy seeks to take advantage of the energy available within the territory. “What we always sought was to use our energy within the country,” he said, referring to the arrival of Bitcoin mining companies. He added that this activity represents an opportunity to use surplus generation and attract private investment in electrical infrastructure.
The head of ANDE also emphasized that the private sector will be key in creating new energy sources. “We are betting 100% on the private sector for the generation of new energy sources. And we understand that the private sector will want to invest if there is a return on their investment,” he said.
In this context, he recalled that the institution had already included in a draft bill the possibility of generating energy in one area and consuming it in another, with the aim of expanding business opportunities. “Companies, for example, could generate energy in the Chaco and use it in Hernandarias. We have already included this modification in the bill, which I hope will soon be debated in Congress,” he stated.
From the business sector, Bruno Vaccotti, director of public affairs at Penguin Group, argued that the country must act quickly. “We have to use that surplus energy and we have to use it fast,” he stressed.
Vaccotti also suggested that Paraguay must change its model of electricity use. “We need to stop being energy exporters. For the country to develop, we must be consumers and generators,” he said. In his view, the domestic use of hydroelectric capacity can drive new industries and investment projects.
On the international stage, the executive warned that the energy debate is not exclusive to Paraguay. “There is a shared responsibility in generation. The energy problem is not a Paraguayan problem, but a global one,” he stated.
Regarding the company’s vision, he pointed out that cooperation within the industry is essential to consolidate an expanding ecosystem. “For me, the future is very promising. We ally ourselves with competitors in the industry because we are convinced that sharing is the new competing in this quest to develop Paraguay,” he declared.
The discussion about Bitcoin’s role in Paraguay’s electrical system takes place in a context of energy surpluses, mainly from the binational Itaipú dam. Authorities are seeking ways to retain added value in the country, while private companies propose investment projects that combine digital mining with new sources of generation.
