Argentina expecting USD4-5 billion investment in solar industry
Source: PV Magazine
By: Sam Pothecary
Over the passed year, enthusiasm for renewable energy in Argentina has been building, first with the passing of a new renewable energy law, then with the election of a new pro-renewables government, and all culminating in October’s tender. Today, the government news agency Télam has announced that it expects outside investment of US$4 billion to US$5 billion in the country’s solar industry over the next five years.
Giving out a few additional details, it said that 60% of funds are likely to be invested in building PV generation facilities. This is good news for more than just the environment, as Télam reported that these facilities should also generate approximately 60,000 new jobs in the country.
“Companies will invest between US$4 and US$5 billion and will generate some 2 GW of additional power to incorporate to the national electric grid,” said Adrián Kolonski, head of Intermepro, a company specialized in renewable energy solutions. He went on to explain the benefits of adopting solar power; “it is clean, it has a low failure rate and it almost doesn’t require maintenance. The development of solar power will arrive in the country through photovoltaic plants and power generation distributed by companies and individuals.”
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