Argentina opens 1,000MW green power auction

Argentina has announced its first auction for renewable energy. It has been launched by President Mauricio Macri, offering 1,000MW of green power. The peak capacity offered for wind and solar […]

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By Jacqueline Echevarria

Argentina has announced its first auction for renewable energy.

It has been launched by President Mauricio Macri, offering 1,000MW of green power.

The peak capacity offered for wind and solar are 600MW and 300MW respectively.

The country’s Ministry of Energy is also offering 65MW for biomass, 20MW for hydro and 15MW for biogas projects.

The amount of money the government expects to invest in total is $2 billion (£1.3bn).

It also estimates the projects will help the country save around $300 million (£204m) per year from importing fossil fuels and reduce nearly two million tonnes of CO2 annually.

Mr Macri said: “By installing wind turbines, solar panels, biomass plants and other different energy alternatives we will create between 5,000 and 8,000 jobs per year.”