Argentina Signs $250 Mln Guarantee Deal For RenovAr Projects

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(Renewables Now, 15.Jan.2019) — The Argentine Minister of Finance, Nicolas Dujovne, signed on Monday an agreement with the World Bank for a $250-million (EUR 217.7m) guarantee to support winning projects from the RenovAr round 2 tender.

The new loan comes on top of the $480 million granted to RenovAr rounds 1 and 1.5, the ministry’s Undersecretariat for Renewable Energy said.

This guarantee will improve the financing conditions for the awarded projects but it will not be given automatically. It is in fact optional for the winners. The World Bank will also ensure the guarantee payments.

Argentina has developed 118 renewable energy projects since 2016, with a capacity of 4,460 MW and investments of $6.5 billion, between rounds 1, 1.5 and 2 of RenovAr. The Development Bank of Investment and Foreign Trade (BICE) is currently analysing 20 projects for a $100-million credit, the government noted.

(USD 1 = EUR 0.87)

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