Argentina’s new market rules enabling private power purchase agreements (PPAs) could lead to as much as USD 6 billion (EUR 5 bn) in investment in the country’s renewable power sector over the next three years and the addition of 4 GW of capacity.
These are estimates by Argentina’s energy ministry according to a press release by the Global Wind Energy Council (GWEC), which has organised a seminar on Friday at the Buenos Aires Stock Exchange to discuss the regulations.
The new rules will allow large power consumers to directly sign supply contracts to meet their renewable power obligations. Ramon Fiestas, president of GWEC’s Latin America Committee said this will open up a new scenario for development and financing of renewables projects. “We have seen how the development of private PPA markets has become an important driver for the wind sector in a growing number of countries around the world,” he added.