CINCOTTA INTERNATIONAL ADVISORY FIRM participated of the Renewable Energy – Opportunities for UK Businesses in Argentina’s Energy Market – Conference
Energy Networks with the British Argentine Chamber of Commerce and in collaboration with the Embassy for the Argentine Republic in the UK have arranged this event to encourage UK and European clean energy businesses to consider Argentina as one of the best emerging markets to invest in today. Argentina currently has 102 new projects, 19 are already in commercial operation and 83 are in full construction. In numbers: 3.7GW of New Power, 5.200 million dollars of direct investment and 7,300 new jobs.
Hive Energy, Elmya and FieldFare Renewables are all working in Argentina – FieldFare being awarded 180MW projects in the first public tender in Argentina under the Argentina RenewableEnergy
Argentina aims for 20 percent of its energy to originate from clean energy sources by 2025, which currently stands at 2 percent, and the World Bank has supported this with a US$ 480 million guarantee to promote private investment in the sector. The development of renewable energy sources in Argentina is crucial for diversifying the power grid and contributing to climate change mitigation. The World Bank guarantee will support the Fund for the Development of Renewable Energy (FODER), which facilitates financing of projects under the RenovAr Programme via the country’s Ministry of Energy and Mining, represented at this event by Maximiliano Morrone, National Director of Renewable Energies, Ministry of Energy & Mines, Government of Argentina.