In order to reach the goal of generating 20% of its power from renewable sources by 2025, the Argentinean Government estimates that 10 GW of additional renewable capacity is needed.
Under the RenovAR tender program, power purchase agreements have already been awarded to more than 4 GW. Scatec Solar entered the market in 2017 and is currently constructing a 117 MW solar power plant in partnership with Equinor that will be owned 50% by Scatec Solar and 50% by Equinor..
At the foot of the Andes, the Guanizuil IIA Project is located in the municipality of Iglesias in the north-western state of San Juan. Guanizuil IIA is Scatec’s first project in Argentina and the company is project lead in a jointly owned construction company while Equinor is providing a construction bridge loan covering 60% of the capex required for the project. Commercial operation is expected in second half of 2020. The project holds a 20-year PPA with CAMMESA, the Argentinian Wholesale Power Market Administrator. Equity partner and lender for the project is Equinor