Latest Argentina tender seven times oversubscribed

ARGENTINA: The country's energy and mines ministry received bids for 3.8GW of wind capacity in the latest tender to source 550MW.

Local renewables developer Genneia submitted bids for five projects totalling 348MW

The bids for 58 projects exceeded the 550MW initially allotted to wind in the round by almost seven times.

This is the latest procurement round in the country's ambitious drive to secure of 20% of its electricity from renewable sources by 2025.

Cement producer Petroquimica Comodoro (7 projects, 556MW) entered the largest number of bids, with power generator Central Puerto (5 projects, 443MW), renewables developer Genneia (5 projects, 348MW), and MSU Energy (3 projects, 191MW), also entering proposals.

Other participants include aluminium producer Aluar, oil firms Pan American Energy and YPF, as well as international companies such as Acciona, Enel Green Power, Envision Energy and General Electric.

Almost half of the proposed capacity (1,879MW) is located in the eastern province of Buenos Aires, with most of the rest distributed between Patagonia (1,060MW) and Comahue (578MW).

But, in a change from previous rounds, the proposed wind capacity was exceeded by more than 5GW of solar PV projects, mostly located in the sun-drenched north-west.

Across all technologies, a total of 228 projects were presented with installed capacity of more than 9.4GW.

The ministry said that the bids presented reflected "a renewed confidence in our country and ensure a proper level of competition which will result in a fall in average costs of the power grid."

The offers, which are subject to a ceiling price of $56.25/MW, are due to be opened on 23 November.