The businessman also asserts that the Bolivian private sector is positioning itself as a strategic player in the transition to renewable sources…
ISSUE 142 | 2025
Raúl Serrano
In a context of energy crisis and growing fuel demand, the Bolivian private sector is emerging as a strategic actor in the transition towards renewable energy sources. This is demonstrated by the experience of Aguaí, which in just 12 years of operation has tripled its alcohol production, doubled its sugar output, and significantly expanded its electricity generation capacity from biomass.
During the recent Annual Energy Dinner (CAEE) 2025, Cristóbal Roda Vaca, president of the Aguaí Sugar and Alcohol Mill, highlighted that Bolivia has always had domestic fuels: natural gas, oil, derivatives, ethanol, and other energy forms. However, he warned that while gasoline demand has increased by 55% in the last decade, gas and oil production have dropped by 54% and 42%, respectively. In this context, he stated that renewable energies emerge as an urgent and viable solution.
GAS SAVINGS
He recalled that Aguaí began its foray into this sector based on its core activity: sugar and alcohol production. He explained that this diversification, driven by the need to optimize resources and respond to environmental constraints, has translated into sustained investments and incorporation of cutting-edge technologies. Today, the mill generates up to 70 megawatts per hour, enough to power a city of 200,000 inhabitants. Additionally, it has avoided emitting 80,000 tons of CO2 and saved large volumes of natural gas that can now be exported.
With a new investment underway, the installation of a second adjacent mill to the current Aguaí facility aims to double production and energy capacity. The incorporation of a 300-ton-per-hour boiler the largest in the country will allow generation of 130 megawatts. This will result in a saving of half a million cubic meters of gas per day and an additional reduction of 140,000 tons of emissions.
LACK OF INSTITUTIONALITY
The businessman also emphasized the difficulties the private sector faces in long-term planning due to a lack of institutional stability and clarity in state policies. He noted that for six years they unsuccessfully requested an official ethanol demand projection. “Only in the last year did YPFB request an increase in supply, but by then it was too late to make the necessary investments on time. Nevertheless, we are working to meet that demand,” he stressed.
Currently, the ethanol blend in gasoline reaches only 12.5%, but there is potential to double it to 24% without affecting vehicle performance. This would significantly reduce gasoline imports with a 100% national product.
The speaker, who leads the youngest company in the sugar industry, concluded by emphasizing that the private sector has assumed all risks and investments in ethanol development without state contributions. He also highlighted Bolivia’s great potential in wind and solar energy, representing a strategic opportunity for private investors committed to a cleaner, more sustainable energy model.
DIVERSIFIED MATRIX
He was categorical in stating that Aguaí’s experience demonstrates that with vision, investment, and commitment, it is possible to advance towards a more diversified and resilient energy matrix, even in times of uncertainty. He added that the company will continue to pursue new investments “with great enthusiasm,” clarifying that they will keep betting on national development, even knowing it involves taking risks in a country of extreme economic and political contrasts.
“We have always known how to move forward, weathering difficulties, as we say in Santa Cruz. Today, some say we are in crisis, but the truth is we are just beginning. We don’t know how long it will last, but the opportunities are enormous. Just last year, at least five major multinationals left the country: Alicorp, Kimberly, KPMG, Bupa, among others. And who stayed? Us. Bolivians, people from Santa Cruz, we stood firm. We will not step back. If others leave, let them leave. We will keep going because we understand the risks, the idiosyncrasy of our people, and we are committed to our country,” he concluded to a packed audience at CAEE 2025.
“…the private sector has assumed all risk and investment in ethanol development, without state contributions…”
