World Bank supports Argentinean renewables with $480m guarantee

World Bank logo
World Bank logo

The World Bank has announced that it will provide a $480m guarantee to support the construction of large-scale renewable energy and solar projects across Argentina.

Renewables presently comprise only a small portion of the power mix pie in Argentina, at just 1.8 per cent of the overall. The country has set an objective of having renewables make up 20 per cent of its energy mix by 2025.
World Bank
The 20-year guarantee will be used mostly for the development of wind and solar power projects being implemented under Argentina’s renewable energy program RenovAr and selected through two bidding rounds (Round 1 and Round 1.5), which were held by the Argentinean government in 2016.

The country’s Ministry of Energy and Mining selected 59 projects with a combined capacity of 2,423 MW through these two tenders. The World Bank specified that, of these projects, 27 have requested its guarantee, including 10 PV projects totalling 306 MW. Overall, 916 MW of solar projects were awarded through the two bidding rounds.

Round 2 of the RenovAr program is expected to be launched by May of this year.


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