Argentina begins renewables push with 1000 MW tender

• 7 years ago (2016-05-20)

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Argentine President Mauricio Macri said that the project represents the first stage of a plan that seeks to develop 10 000 MW (or 20 per cent) of new renewable power by 2025.

President Macri said: “Today we are opening a special chapter, a national plan for renewable energy… The first stage is for 1000 MW. We hope to get a lot of offers within a few months.”

Argentina has long been known to sit on one of the world’s biggest untapped shale oil formations, yet development has been slow at the Patagonian shale region known as Vaca Muerta. As a result, Argentina has continued to be a net energy importer.

Partly in response to this situation, Macri, who was inaugurated in December, has set a goal of increasing renewable energy to 8 per cent of national consumption by the end of next year – compared with 1.8 per cent currently.