The French renewable energy project developer Neoen has signed a letter of intent with the government of the Argentinean province of Tucumán for a $250 million solar project.
The regional government said in a press release the project is still at an early stage and that its capacity is around 200 MW. Neoen’s local representative Hugo Martínez said that the approval process is currently being implemented and that construction on the plant could begin within a year. The plant would be located on land owned by local indigenous community Amaicha del Valle.
This is Neoen’s first project in Argentina. The company is present in the Latin American solar market with an 100 MW PV project in El Salvador. The project was selected in the country’s latest renewable energy auction held in January.
Argentina’s Ministry of Energy and Mining selected 59 projects with a combined capacity of 2,423 MW through the two bidding rounds of the renewable energy program RenovAr (Round 1 and Round 1.5), which were held by the Argentinean government in 2016. Round 2 of the RenovAr program is expected to be launched by May of this year.
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200 MW @ $250 million is only $1.25/kWh ($1,250MWh). This is a very competitive price.