Argentina awards RenovAr 3 contracts

Argentina awards RenovAr 3 contracts

Project & Infrastructure Finance Energy Renewable Solar Wind Argentina

Argentina has awarded contracts for 38 renewable energy projects that are expected to generate more than $368m in investments.

The projects amount to 259 MW in capacity and will provide electricity to 250,000 homes, the energy ministry said in a statement.

For third round of auctions in the RenovAr renewable energy program, the government awarded 10 wind power projects with 129 MW in capacity and 13 solar power projects with 96.8 MW in capacity. It also included two biomass projects, seven biogas projects and six small hydroelectric projects with 39.6 MW in combined capacity.

The wind power contracts averaged $58.04 per MWh, while the solar projects averaged $57.58 per MWh, the ministry said.

A total of 52 companies had submitted technical offers, and 50 qualified to submit financial proposals. The ministry has invited the sponsors of the 12 projects that did not receive contracts to sign contracts with the government at the minimum awarded price.