Argentine developer to break ground on 5MW solar plant

Work on Inesa Solar's 5MW Cañada Honda III solar project in Argentina's San Juan province is set to begin in March.

The Argentine developer plans to break ground on the third plant at the 20MW-planned Cañada Honda solar complex, which feeds into the national SADI grid via the Cañadita substation. The new phase will begin feeding power by year-end.

The company received a US$11mn loan from regional development bank CAF, according to state news agency Télam. The 15-year loan carries a 6.75% + Libor annual interest rate and an initial 12-month grace period.

This 5MW, 22,000 panel phase will produce enough energy to power 8,000 households, substituting 12Mm3 of natural gas power generation and preventing 32,900t of CO2 emissions annually.

The 2MW Cañada Honda I and 3MW Cañada Honda II plants, developed by Argentine power company Genneia, were opened in April 2012.

Cañada Honda I and II generated 60.8% of the 1,582MWh of solar energy produced by SADI in January, according to data from grid operator Cammesa. Solar made up 0.013% of the power grid last month in terms of net energy produced in Argentina.

The first three stages of Cañada Honda received 15-year PPA's through Argentina's 2010 Genren I renewable generation program, which awarded solar contracts at an average price of US$572/MWh, according to federal planning ministry documents.