Interest in Argentina’s new tender for renewable energy has surpassed expectation, with a bids amounting to six times the capacity required.
Wind Power Monthly reports that the first round is expected to increase renewables to 4.5 per cent of supply from 2018.
Undersecretary of renewable energy Sebastian Kind said the government had received a total of 123 offers to build 6,636 MW of new installed capacity, though only 1,000MW is available.
The bids included 49 offers for wind energy, with a combined capacity of 3,468 MW, compared to the government target of just 600 MW, although the tender rules allows the government to accept more offers if thought convenient.
The technical offers will be assessed before the economic offers are opened on 7 October with the contracts awarded five days later.
The auction is the first of several that the ministry plans to hold, to increase the participation of renewable energy in Argentina’s electricity supplies from the current figure of 1.8 per cent to 20% by 2025.
The first round is expected to trigger investments of $1.5-2bn, and create 5,000-8,000 jobs.
[bc_video account_id=”1214147015″ player_id=”4697982639001″ video_id=”5114630928001″ min_width=”320px”]