"Bitcoin is Paraguay's Greatest Ally in Energy Development," Says ANDE President

The head of ANDE also emphasized that the private sector will be key in creating new energy sources

The head of ANDE participated in the Accelerating Bitcoin event.

The president of the National Electricity Administration (ANDE), Félix Sosa, stated that Bitcoin (BTC) could become Paraguay's main ally in energy development. He made this statement during the event Accelerating Bitcoin, organized in Asunción by Penguin Group, the first event dedicated exclusively to this industry in the country.

Sosa explained that the institutional strategy seeks to take advantage of the energy available within the territory. "What we have always sought was to use our energy within the country," he said in relation 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 100% committed to the private sector for the generation of new energy sources. And we understand that the private sector will want to invest if it sees a return on its investment," he said.

In this context, he recalled that the institution has already incorporated into a 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 Chaco and use it in Hernandarias. We have already included this amendment in the bill, which I hope will be discussed soon in Congress," he said.

“We must use the surplus quickly.”

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 energy surplus, and we have to use it quickly," he said.

Vaccotti also suggested that Paraguay should modify its electricity usage model. "We have to stop being energy exporters so that the country can develop; we should be consumers and generators," he said. In his opinion, the internal 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 shared responsibility for generation; the energy problem is not a Paraguayan problem, but a global one," he said.

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 hopeful. We are partnering with competitors in the industry because we are convinced that sharing is the new way of competing in this quest to develop Paraguay," he said.

The discussion about Bitcoin's role in Paraguay's electricity system is taking place in a context of energy surpluses, mainly from the binational Itaipú dam. The authorities are seeking ways to retain added value in the country, while private companies are proposing investment projects that combine digital mining with new sources of generation.