Argentina Accelerates Renewable Development

National Economy

The population of the Argentine Republic is approximately 46.11 million people[1]. In 2021, 100% of the people in this South American country had access to electricity[2].

In 2021, Argentina’s economy was ranked 21st in the world in gross domestic product (GDP)[3]. The country’s economy[4] is dependent on the export of soybean meal, corn, soybean oil, soybeans, trucks, bran, and nuts,

Environment Policies

In 2016, Argentina signed the Paris Climate Agreement[5], committing to an unconditional 15% reduction in greenhouse gas emissions by 2030, compared to business as usual projections.

In 2021, utilities[6] used natural gas (61.5%), renewable energy (24.3%), nuclear (7.1%), oil (5.2 %), and coal (1.9%) to generate electricity in Argentina. Hydropower and wind are the primary types of renewable energy used to generate electricity in Argentina.

Recent renewable energy developments in Argentina include:

  • 300 MW Solar Project – In February 2022, Argentinian energy company, Yacimientos Petrolíferos Fiscales (YPF) commenced work on the Parque Solar Zonda project in the nation’s capital, Buenos Aires. The project is scheduled to be commissioned in 2023.
  • 300 MW Solar Project – Argentinian state-owned energy company YPF has announced plans to build the El Zonda solar project at a site approximately 600 miles west-northwest of Buenos, Aires.
  • 200 MW Solar Project – Argentinian state-owned energy company YPF has announced plans to build the Tocota solar project at a site approximately620 miles northwest of Buenos, Aires
  • 100 MW Wind Project – Italian steel company, Tenaris has commenced work on the development of an onshore wind project in Buenos Aires. The project is scheduled to be commissioned in 2023.

Conclusions

Argentina is a net importer of fossil fuels (coal, oil, and natural gas) for power generation, heating, and transportation. In 2020, Argentina spent[7] U.S. $1.25 Billion on imported refined petroleum and U.S. $1.17 Billion on imported natural gas.

On 24 February 2022, Russia invaded Ukraine, resulting in the United States, Canada, and the European Union placing embargos on Russian exports. The international price for crude oil has increased by over 50% from May 2021 to May 2022.

Argentina has significant undeveloped renewable energy resources, including offshore wind, onshore wind, solar, biomass and hydropower. Russia’s invasion of Ukraine and the rise in global fossil fuel prices s is causing fossil fuel importing countries to accelerate the development of wind and solar projects around the world.

Rising fuel prices is causing Argentina to accelerate the development of low-cost, reliable renewable energy.

Jack Kerfoot

Website – “Our Energy Conundrum”

www.jack kerfoot.com

 

 

 

Jack Kerfoot is a scientist, energy expert, and author of the book FUELING AMERICA, An Insider’s Journey and articles for The Hill, one of the largest independent political news sites in the United States. He has been interviewed on over 100 radio and television stations from New York City to Los Angeles on a wide range of energy topics.

[1] Argentina Population (2022) –  September 20, 2022, www.worldometers.info

[2] The World Bank Group, Access to Electricity (% of Population – Argentina )

[3] Gross Domestic Product By Country 2021 – Worldometer

[4] The Observatory of Economic Complexity (OEC) – Argentina

[5] Carbon Brief – “2015: Tracking Country Climate Pledges”

[6] Our World In Data, Argentina:  Energy Country Profile by Hanna Ritchie and Max Roser

[7] The Observatory of Economic Complexity (OEC) – Argentina Imports

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