Argentina will have 100 MW of its solar power projects to be financed by US bank Inter-American Investment Corporation (IIC). The projects will be located in the province of Jujuy. The news was announced after the Governor of the province, Gerardo Ruben Morales met the head of IIC in Washington.
IIC is part of the Inter-American Development Bank (IDB) Group. Through loans, equity investments and guarantees, IIC supports the private sector and state-owned enterprises.
The Head of IIC, James Scriven reportedly said to be interested in providing capital for renewable energy projects. The two even discussed financing of $27 million for project management of the same and also for another project on municipal solid waste.
The 100 MW solar capacity will be tendered.
Argentina has almost no installed solar power capacity, according to an April 2016 Bloomberg report, which says the South-American country has made it mandatory for industrial consumers to get 8% of their power from renewable sources in 2017 and 20% by 2025.