Argentina to award $4bn in grants to renewable energy developers

The Argentinean energy minister, Juan Jose Aranguren says the government intends to award contracts to produce 1,281 MW of clean energy through 30 different wind and solar power projects.
Argentinean energy minister, Juan Jose Aranguren
“Investors have shown they believe in Argentina,” Mr. Aranguren said.

The projects, which economists say offer the best evidence yet that investors are betting on President Mauricio Macri’s economic policies, will help the country meet its goal of raising clean energy output to 20 per cent of the total power supply by 2025.

The Macri government, which took office a year ago, has been pouring resources into the country’s neglected power infrastructure and now plans more focus on renewables under its commitment to the Paris climate agreement.

In October, the government said it would grant contracts to build 1,109 MW of power. Argentina may hold another round of bidding in March, said Friday.

Companies committed to building the clean power generators will have up to 900 days to get the projects operational, officials said. Argentina currently gets less than 2 per cent of its power from clean energy.



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...