@Grandkhan-
I don't think population is directly proportionate to power. Infrastucture and cultural homogenity are also important. There is a reason countries like France, England, and Germany are often better than their Asian couterparts, even with less population.
I would submit that, of the current nations unclaimed, only Brazil is really unconcievebly minor. Its population, size, and vast amounts of natural resources mean it is really set up to succeed big I think. East Africa can be split, Nigeria too if need be. Italy is not much better than Spain or Sweden to begin with. Iran is not really a large nation, in any way at this time. Not a need for a major power. Indonesia is too rural and disjointed to function as a powerful nation, similar to India but much much worse. I could easily see a handful of weaker, smaller islands nations splintering off. And Argentina is not really any more powerful than other nations in the area, just physically larger, unless I am wrong.
I don't know, it just seems only Brazil could not be a minor power, in my opinion. And leaving Gran Colombia the only South America major power would be bad.
EDIT: In an unrelated note, how exactly do projects work? Do we tell you what project we plan on, then you give us a EP estimate to completion, or does something else happen?