Argentina launches new RenovAr round
Argentina has kicked off the previously announced round 3 or MiniRen of renewable energy program RenovAr that will offer 400MW, with 350MW set aside for wind and solar, 25MW for biomass, 15MW for biogas and 10MW for small hydro.
The scaled down process aims to attract capital from non-traditional players and utilize existing available capacity of medium-voltage grids to decentralize development and promote the local value chain.
MiniRen comes amid difficulties for some RenovAr winners, in particular those that picked up contracts in round 2 and have yet to close financing.
Read Argentina grants new RenovAr extension and At a Glance: Hurdles for renewables growth in Argentina
Round 3 projects will range from 0.5MW to 10MW and connect to 13.2kV, 33kV and 66kV grids.
Winners will sign PPAs with wholesale power market administrator Cammesa and adhere to renewable energy trust fund Foder which will guarantee energy payment for three months.
In a resolution published in the official gazette, the energy department has tasked Cammesa with carrying out MiniRen.
PERSPECTIVE
"The current development of NCRE in the country has as an additional benefit the multiplier effect of all investment, which can be of great help to reactivate the national economy and regional economies, at this juncture, particulary because they are private investments that do not affect the fiscal deficit or public debt."
That's according to a just released energy policy document from Instituto Argentino de la Energía "General Mosconi."
The thinktank, however, highlights the country's enduring economic and financing imbalances which stymie investments in general, and much more for NCRE that require financing over long periods.
The institute argues that many offers in RenovAr rounds 1, 1.5 and 2 had a speculative component, which is to say, that once awarded, a project would be sold to another developer.
The study also points to Argentina's transmission bottleneck and that certain stakeholders have branded the regulatory framework as complex.
To relaunch NCRE in the country, the thinktank proposes reducing obligations and renegotiating contracts, among other actions.
In addition, the speed of technological change and falling costs raise questions regarding the advantage of signing a 20-year PPA, according to the document, available here.
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