Energy company Genneia says it will invest $200 mln in renewable energy parks – EQ Mag Pro

BUENOS AIRES :  Argentine thermal and renewable energy producer Genneia SA said on Monday it will invest $200 million in Argentine renewable energy parks over the next two years, at a time when the country is going through a severe energy deficit that affects its fiscal balance.

“Tocota III” solar park, located in the province of San Juan, will have 60 megawatts of installed capacity, while the “La Elbita” wind farm to be located in the province of Buenos Aires, is expected to have 103.5 megawatts of installed capacity.

“We are very proud to continue leading the renewable market in Argentina and that solar and wind energy increase their role in the energy matrix,” Bernardo Andrews, Genneia’s executive director, said in a statement.

The company, which has already invested $1.2 billion in renewable projects over the last five years, aims to exceed 1 gigawatt of installed capacity after the investment. Of those, 222 MW will be of solar energy and 887.5 MW of wind energy, distributed in 11 parks located throughout the country.

Genneia has 24% of the country’s installed wind energy capacity and 8% of solar energy, which makes it the leader in the sector and one of the ten most important generators in South America.

Source: reuters