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Argentina's YPF to invest US$200mn in wind farm

Bnamericas Published: Wednesday, May 11, 2016
Argentina's YPF to invest US$200mn in wind farm

Argentine national oil company YPF will invest over US$200mn in a 100MW wind farm in Chubut province, according to governor Mario Das Neves.

The Inter-American Development Bank (IDB) will provide an unspecified amount of financing for the project, which will be built in two phases near the town of Comodoro Rivadavia, a provincial government statement quoted Das Neves as saying.

YPF has approved an investment of US$107mn for the project's first 50MW phase, the governor said, citing a conversation he had with the state oil company's chairman, Miguel Gutiérrez.

Das Neves said that Vestas is expected to sign a contract to supply turbines for the project on May 20, adding that the Danish company also supplied turbines for the nearby Rawson wind farm (pictured).

The announcement follows the signing of a memorandum of understanding between Dow Chemical and neighboring Río Negro province for the development of a US$123mn, 65MW wind farm.

Argentina is expected to launch a renewable energy supply tender this month to help the country reach its goal of a 25% renewable-powered national grid by 2025 as mandated by a recently enacted law.

Meanwhile, energy trading firm Saesa said that more than 60 large-scale power consumers have expressed interest in an open season call to help those consumers obtain competitive power purchase agreements (PPAs) with renewable producers.

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