The Argentinian province of Jujuy has announced local government-run company Jemse SE – Jujuy Energy and Mining State Society – has signed a framework agreement with Power China and Shanghai Electric for the expansion of the Cauchari solar plant by another 200 MW.
The deal was signed at the G20 summit held in Buenos Aires at the weekend. The provincial government said the project expansion will include the deployment of storage capacity.
The 300 MW Cauchari project was selected by the Argentinian government in the first round of the RenovAr program. Construction of the plant, which will use modules from Chinese manufacturer Talesun, began in October 2017.
The project is being financed with funds from the Chinese state-owned Export-Import Bank of China, and a $210 million bond the province of Jujuy issued in mid-September. Jemse owns an 80% stake in the project, with the remaining 20% split between Power China, Shanghai Electric and Talesun.
The plant will sell power to wholesale electric market management company Compañía Administradora del Mercado Mayorista Eléctrico, for $60 per MWh under a 20-year PPA.
Two solar projects totaling 400 MW in capacity were awarded in the first bidding round of the RenovAr program, held in 2016. The other project is the 100 MW La Puna plant planned for the province of Salta, and proposed by Spanish companies Field Fare and Isolux Corsán.