The Argentine Republic currently has a population estimated to be 44.88 million people. Argentina’s power plants use fossil fuels (60%), renewable energy (37%) and nuclear energy (3%) to generate electricity in the country. The fossil fuel power plants primarily use natural gas. Hydropower is the primary renewable energy source in Argentina.
The government of Argentina is committed to developing the country’s vast renewable energy potential. In 2017, Argentina’s Ministry of Energy launched a renewable energy program entitled, “RenovAr.” The program is designed to increase the country’s power from wind and solar from 2% to 16% in 2021 and 20% by 2025.
Canadian Solar Inc. announced the company has secured U.S. $50 million in non-recourse financing for the development of the 100 MW capacity solar photovoltaic (PV) park in Cafayate, Argentina. Canadian Solar designs and manufactures solar module products and is headquartered in the city of Guelph in Ontario, Canada. The financing was arranged by Corporacion Andina de Fomento (CAF) – Development Bank of Latin America.
The solar park is located approximately 875 miles northwest of Argentina’s capital, Buenos Aires. The project will use Canadian Solar’s MaxPower CS6U-P 345 W solar modules. Construction has now begun on the solar park which is scheduled to be completed in the second quarter of 2019.