Windpower Monthly rating 3/5
Our rating is based on a combination of project pipeline, political and policy support, investor confidence and structural readiness of the country in terms of grid infrastructure, permitting process and local supply chain.
Forecast of installed and operating wind power capacity based on the latest statisitics and measured against the Windpower Intelligence database.
Argentina is emerging as one of the more promising new markets for wind power in the world, but continued political and economic uncertainty still hinders growth.
The law setting a target of renewables to provide 20% of the country’s electricity by 2025 was passed by congress in September 2015.
The first annual tender to supply grid operator Cammesa was held a year later, and attracted offers of more than five times the 1.2GW it sought. The average winning bid was around US$59/MWh.
A follow-up tender for another 1.2GW was held just two months later with wind power winning 765MW of new capacity at an average price of US$53.34/MWh.
The second round of tenders held in December 2017 resulted in wind gaining another 550MW of new capacity and the average price dropping close to US$40/MWh.
Confidence in the country’s nascent wind power sector is growing rapidly. Vestas, for example, is now building a nacelle and hub plant in Buenos Aires province.
GERMANY: The German turbine maker has developed a high-performance charging station for the latest generation of electric vehicles, and has ambitious plans for wind power development in India and Argentina.
ARGENTINA: The country may be a latecomer to the Latin American wind boom, but ambitious targets and radical economic reforms mean this is the perfect time to grab a slice of the pie.
The region came close to becoming a 10GW market at the end of last year, with Peru and Uruguay in particular achieving impressive rates of growth in their wind power capacity.
LATIN AMERICA: We detail the most up-to-date data for Latin America's installed and upcoming wind power capacity, country by country. Measured against our map of turbine production facilities shows a need for more factories or improvement in transport infrastructures.
LATIN AMERICA: Favourable wind resources and government policy have driven exponential expansion in the Latin American wind market. Predictions that by 2020 capacity will have grown fivefold are making the region a safe haven for beleaguered US and European manufacturers.
Norwegian energy company Equinor has entered the Argentine wind sector by acquiring a 50% stake in a 120MW wind project under construction in the south of the country.
Wind power projects secured the majority of the capacity on offer in the third auction round of Argentina's RenovAr programme.
Nordex has officially opened a nacelle and hub production plant in Argentina.
Argentina's Renovar programme has made the country a promising emerging market, but now recession and a lack of grid capacity are starting to take hold.
Argentina's renewables sector has vigorously dismissed a proposal by the head of one of the country's most promising regions for wind energy to impose a tax on the industry.