Six PV projects located in the Argentine province of Mendoza will be able to obtain financing from the National Bank under the framework of a development program by the Ministry of Production, according to a report by the provincial government. The financing will be provided through the Fund for Argentine Economic Development (FONDEAR).
These are projects which were awarded under the RenovAr auction 1.5, held last November, and which will include 85% local content. Canadian investors S2E Tech and Potentcia Corporation are participating in these projects.
The financing which these projects will access is specifically for public-private initiatives and is linked to local content requirements. Mendocina de Energía won six PV projects with a combined total of 94 MW in the RenovAr 1.5 auction.
“We are working with (the National Bank) to develop a very good line of credit to incentivize the industry and local work, as it will finance 85% provided that it is local content, with the rest of the capital contributed by private parties,” stated Secretary of Energy and Mines Emilio Guiñazú.
Last year over 900 MW of PV projects were awarded under national renewable energy auctions RenovAr 1 and 1.5 in Argentina. A large part of the volume awarded is located in provinces in the northern and western parts of the nation with a high solar potential, including Mendoza.
Translated by/traducido por Christian Roselund. Para leer el original en Español, por favor vea el sitio del web pv magazine Latinoamérica.