The Argentinian Ministry of Energy (Ministerio de Energía y Minería) has announced the results of the second round in the RenovAr power capacity tender, which initially targeted 1,200 MW of new generation capacity. It was largely oversubscribed and attracted 228 offers with a combined capacity of 9,402 MW.
Eventually, 66 new projects have been selected with a combined capacity of 1,410 MW, of which 666 MW for wind energy (8 projects with an average bid price of US$41.23/MWh), 557 MW for solar energy (12 projects with an average bid price of US$43.46/MWh) and 117 MW for biomass (14 projects with an average bid price of US$106.73/MWh).
The Ministry plans to launch a second phase in this current round: it will offer 50% of the original bid for each technology (i.e. 600 MW, of which 275 MW for wind, 225 MW for solar, 50 MW for biomass, etc.) and invite companies to bid at the average price of this tender.
Argentina launched its Plan RenovAr in May 2016 in order to boost the development of renewable energy sources and to reduce its CO2 emissions in the wake of the Paris Agreement. In a longer term, Argentina aims to cover 25% of its energy needs with renewables by 2025.
Source: Ministerio de Energía y Minería
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