Neoen wins 100 MW solar project in Argentina

French independent producer of renewable energy, Neoen, announces that on November 29,  2017 it won the second call for tenders of Argentina’s RenovAr Program with its 100 MW solar project in the province of Salta, Argentina.  

Argentina’s Ministry of Energy and Mining (MEM) ran the RenovAr 2 tender process and has highlighted the unprecedented level of competition. For solar alone, 99 projects were submitted, totalling more than 5,290 MW. Only 14 projects were awarded, totalling 557 MW, with an average price of electricity of 43.46 USD/MWh. Among the winners, Neoen’s solar project is the largest renewable energy plant awarded, and offers the second-best price of 40.80 USD/MWh.

This success consolidates Neoen’s presence in Argentina. Neoen had already been awarded 100 MW in the RenovAr 1 tender, and will now have 200 MW of solar capacity in Argentina, becoming one of the largest solar players in the country.

The company’s success in RenovAr 2 comes only weeks after Neoen was declared a winner in a Mexican renewable tender, with a 377 MW solar project adding momentum to its expansion across the Americas. In this region, Neoen already has one solar power plant in operation in El Salvador, two solar power plants currently being financed in El Salvador and Jamaica, and a large portfolio under development.

Emmanuel Pujol, Neoen Director for South America, commented that:

“The success of last year’s RenovAr 1 program, together with the continuing decrease in the price of solar energy and the growing appetite of investors for Argentina made this RenovAr 2 tender extremely competitive, as shown with the record prices submitted for Argentina. In this context, Neoen is proud to have been awarded this 100 MW solar project. This accomplishment demonstrates Neoen’s ability to capitalise on its local presence and develop synergies in order to propose one of the cheapest solar offers of
the Argentine market.”

Xavier Barbaro, Neoen’s CEO, added:

“After our success in Mexico, this award in Argentina strengthens even further our presence in Latin America. With circa 850 MW now built or secured in the region, it is our third largest development area after EMEA and Australia. It also confirms that Neoen’s strategy to be a long term, locally rooted owner of its projects is the right one: it enables us to achieve record competitiveness in the countries in which we operate. This is line with our mission of designing and implementing, in all of our markets, the means to produce the most competitive renewable energy, sustainably and on a large scale.”

Source: Press Release by Neoen. Image Credit: empty007/Flickr (CC BY-SA 2.0). Logo: Neoen.