New market rules to allow large power users in Argentina to directly meet their renewable power obligations through private supply contracts could trigger up to $6bn in investments over the next three years, and lead to the installation of around 4GW in new generation capacity, the country’s energy ministry says.
"Renewable power development today occupies a central place in Argentina's energy, political, social and economic agenda," says Sebastian Kind, undersecretary of renewable energy at Argentina's of energy and mining ministry.
"We have settled long-term policies and we are witnessing the outcomes of such policies", he added.
The new rules will be discussed today with local and international investors and equipment suppliers at a seminar organised by the Global Wind Energy Council (GWEC), with the participation of the energy and mining ministry and the Argentinian-German chamber of commerce (AHK) at the Buenos Aires Stock Exchange.
Ramón Fiestas, president of GWEC's Latin America Committee, thinks as a result of the scheme, a new scenario for development and financing of renewables projects will open up.