Renewable energy is once again on the radar screen in Argentina after wind development came to a grinding halt in the wake of the national economic crisis and a freeze on energy prices. Last month, Argentina's President Néstor Kirchner announced the creation of the Argentine Carbon Fund (FAC), designed to promote investments in renewable energy projects. And in the private sector there are also positive signs towards investment in renewables. Argentinean energy company Industrias Metalúrgicas Pescarmona SA (IMPSA) earmarked $374.5 million to design and install wind farms in Patagonia, local newspapers reported. "We hope to have machines running by the end of 2005 in Patagonia," says Emilio Guiñazú, manager of IMPSA's wind power division. But he would not confirm the investment, size or number of turbines. "It is early days," Guiñazú says.