Argentina's Mendoza province seeks financing for solar projects

The government of Mendoza province in western Argentina and state-run provincial energy company Emesa are seeking US$100mn in financing to build five solar parks, one of which will be in the southern city of General Alvear and has environmental and geophysical studies already approved.

"A US$100mn financial package is needed to start the works as soon as possible. The idea is to start in July 2018 and have the parks running in July 2019, delivering energy," provincial energy undersecretary Emilio Guiñazú Fader was quoted as saying by state news agency Télam.

General Alvear has already presented the final plan for its PV solar park, awarded in round 1.5 of the RenovAr renewable auctions, and has signed contracts with electricity wholesale market administrator Cammesa to sell power to the grid.

The solar park in the town, which will have an installed capacity of 20MW, will be joined by projects under development in Lavalle, La Paz, Luján de Cuyo and San Martín, which together will total 92.5MW.

The preapproval of General Alvear's environmental impact study and geotechnical studies "gives security to the investor, these US$25mn (for the solar park) are some 500 million pesos that are going to be invested and the return on this investment is assured," said Emesa director Pablo Magistochi.