New rules may trigger $6bn in spending into RE in Argentina

Recharge news

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.

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