EIB lends €300 million to Banco Santander for solar in Brazil; Argentina installed 154.4 MW solar in Q2/2023; Hy2gen to carry out feasibility studies for Mexico green ammonia project; Guatemala's new energy tender oversubscribed.
€300 million for solar in Brazil: The European Investment Bank (EIB) has announced a €300 million loan for Banco Santander of Brazil for around 600 MW solar capacity. Self-consumption projects backed by this financing will be installed on homes and local small and medium business premises, as part of the European Union's (EU) Global Gateway investment strategy. The bank said this project will help Brazil increase the share of renewable energy sources in its annual electricity generation and to achieve its 10-year national energy expansion plan. Self-consumption systems will also reduce electrical losses and foster energy efficiency, it added.
Argentina expands RE capacity: The National Electricity Regulatory Entity (ENRE) in Argentina says the country added 291 MW new renewable energy capacity in Q2/2023. This comprised 80% of the country's overall 363.02 MW new power capacity installed during the period. It includes 154.4 MW PV capacity in the form of 3 projects in Saint Louis, San Juan and The Rioja provinces. According to the International Renewable Energy Agency (IRENA), Argentina's total installed solar PV capacity at the end of 2022 was around 1.1 GW.
Green ammonia factory planned in Mexico: Germany's Hy2gen has proposed to build a 200 MW offgrid green ammonia plant in Mexico, powered by 415 MW onshore wind and 208 MW solar PV capacity. It has signed a cooperation agreement with the local government of Campeche to carry out feasibility studies for the Marengo project. The German company targets to produce 180,000 tons of renewable ammonia through the €1.1 billion project. Final product will be used to help decarbonize the shipping industry that currently depends on heavy fuel oil, stated local media reports.
Guatemala tender oversubscribed: The National Electric Power Commission (CNEE) of Guatemala has received 51 technical offers for its Open Tender PEG-4-2022 round from 48 companies to ensure future power supply. Offers came in for a total of 1.5 GW as against the 235 MW offered, including for solar energy, to be contracted for a period of 15 years—from May 1, 2026 to April 30, 2041. Bidders clearing this round will need to submit economic offers, post which winners will be announced, according to local media reports. PEG stands for the country's Generation Expansion Plan.