Argentina expects $1.8
billion investment from renewable energy auction
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[October 08, 2016]
BUENOS AIRES (Reuters) - Argentina
expects investment of $1.8 billion from 17 renewable energy projects
awarded in an auction to generate 1,109 megawatts of power, the
government said on Friday, as it tries to lessen dependence on imported
power.
Argentine and international companies are among the winners, with
Spanish companies Isolux Corsan SA and FieldFare earning a solar
contract and China's Envision Energy winning four wind contracts.
The projects are meant to increase the percentage of national power
production from renewable sources to 8 percent of the total next year
from 1.8 percent currently.
"We'll be at about 5 percent of the goal we have established,"
Undersecretary of Renewable Energy Sebastian Kind told a news
conference.
The average winning price was $59.40 per megawatt hour and $59.70 per
megawatt hour for solar.
Argentina received a total of 123 project bids in September, but said on
Friday it awarded 17. Of those, 12 are wind, four solar and one biogas.
The government received some bids for hydroelectric and biomass projects
but did not accept them.
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The government has said it aims to stop importing light crude oil this year as
it moves toward energy self-efficiency. The country has been running an energy
deficit since 2011 and investment in its Vaca Muerta shale fields has been slow
to arrive.
Several Latin American countries are turning their attention to renewable
energy. In August neighboring Chile awarded contracts to supply power for two
decades from the 2020s.
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(Reporting by Maximiliano Rizzi, Nicolas Misculin and Caroline Stauffer; Editing
by Matthew Lewis and Lisa Shumaker)
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