In a surprising twist to RenovAR 1.5, Argentina has awarded 1281.5 MW of renewable energy capacity, more than double the original ask of 600 MW.
“Investors have shown they believe in Argentina,” said Juan José Aranguren, Argentina’s energy minister. A total of 30 projects were selected under this additional tender, including 10 wind projects, representing 765.4 MW of capacity and 20 solar schemes, totalling 516.2 MW. The average price achieved was USD 54 (EUR 51) per MWh, while the lowest price was USD 46 per MWh for the Pampa wind project.
Argentina has a goal of 20% clean energy by 2025, and projects awarded from RenovAR 1 and 1.5 – totaling more than 2400 MW – will make a significant push towards the effort, as well as help Argentina meet its commitments under the Paris Agreement. Projects have 900 days to come online under the program’s rules. A new RFP may be forthcoming in March 2017.
