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Argentina opens bids to produce 1,000 megawatts of renewable energy

Xinhua, May 19, 2016 Adjust font size:

Argentine President Mauricio Macri announced on Wednesday a call for tenders in order to produce 1,000 megawatts of renewable energy in the South American country.

"In a few more months we will receive many offers from all over the world," said the president during a ceremony held in the capital city of Argentina.

While speaking in the Environmental Information and Education Center (CIFA) in Buenos Aires, Macri assured potential investors they will realize that they are "doing the right thing and that Argentina is a country with a great future for Argentinians and for all those who wish to join us."

At the same time, Macri officially opened the first round of the RenovAR program which is also estimated to provide between 5,000 and 8,000 new jobs.

The president was accompanied by the head of Buenos Aires' local government, Horacio Rodriguez Laurreta, Energy Minister Juan Jose Aranguren and Environment and Sustainable Development Minister Sergio Bergman at the event.

"We have to be dedicated to reducing gas emissions, and for that, Argentina has much to offer and much to produce in terms of renewable energy," said Macri.

"Our country has an enormous potential. We are among the world's top countries for generating solar and wind energy," added the president.

He said the country has the potential to enhance the its share of renewable energy to 20 percent in 2025 from the current 2 percent.

The incorporation of the expected 1,000 megawatts will be divided in the following way: 600 from wind power generation, 300 from solar energy sources, 65 from biomass, 20 coming from small hydroelectric power plants and 15 from biogas.

According to the Energy Ministry's estimations, this will allow the country to save 300 million U.S. dollars per year on importing fuel to generate electricity. This calculation was made taking into account the current price of oil price at 50 U.S. dollars per barrel.

Focusing more on renewable energy will also avoid the release of almost two million tons of carbon dioxide (CO2) into the atmosphere annually, according to the ministry. This is equivalent to the pollution caused by around 900,000 cars.

Those new projects will bring new opportunities to international investors, including those from China.

China has been an active player in Argentina's renewable energy sector. Both sides have been cooperating in the development of wind power and hydropower in the South American country.

A joint Argentina-China project to build twin dams and boost hydropower generation in the South American country has gained new momentum recently through a series of bilateral meetings to update the venture.

The Nestor Kirchner and Jorge Cepernic Dams in the country's southern province of Santa Cruz have been designed to supply some four percent of Argentina's energy needs.

Argentina's federal authorities recently decided that the project should contribute to the national energy grid, not just the regional grid as originally planned. Endi