Canadian Solar-owned 97.6MW PV plant powered up in Argentina

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
The 97.5MW installation in Argentina's northwest reaped auction support in 2016 and was acquired by Canadian Solar almost two years later (Credit: Argentinian Energy Secretariat)

An Argentinian utility-scale PV project snapped up by Canadian Solar last year has started supplying power to the grid. 

Over the weekend, Argentina’s Energy Secretariat hailed on social media the recent operational launch of Parque Solar Cafayate, built near the namesake town in the Salta Province.

The 97.6MW solar installation, the first to go live in the northwestern territory, was built by Beijing-headquartered group Powerchina.

The EPC was selected by owner Canadian Solar around April 2019, paving the way for construction works that required a workforce of around 200 people.

Canadian Solar acquired the project from an undisclosed buyer in March 2018, with plans at the time to connect it to the grid during Q2 2019.

In December 2018, Cafayate bagged US$50 million in non-recourse project financing from development banks CAF, BICE and the Bank of Buenos Aires City.

The goal, Canadian Solar said at the time, was for the project to secure an additional US$25 million in senior funding, with a view to hitting financial close in early 2019.

Cafayate reaped state support at one of Argentina’s first clean energy tenders, held in late 2016.

The RenovAr’s programme round 1.5 tender – which granted solar 516MW of 1.3GW of contracts – awarded Cafayate a 20-year PPA with state offtaker CAMMESA, priced at US$56.28/MWh.

In Argentina, the powering-up of a new project comes as the country’s 790MW-plus solar industry braces for the results of a smaller-scale tender – RenovAr round 3 – on Monday this week.

Restricted to 0.5MW-10MW projects, the ‘MiniRen’ auction has triggered 128MW worth of solar bids, with 18 PV projects offering the lowest average prices (US$57.9/MWh) of all renewables.  

Cafayate’s builder Powerchina is also the EPC behind Argentina’s largest PV project Cauchari, which after several expansions could reach a 600MW size in the Jujuy province. 

Read Next

March 31, 2021
Renewables investor Cubico Sustainable Investments has completed its acquisition of a European 272MW solar power platform called Grupo T-Solar from I Squared Capital.
March 30, 2021
Local authorities in New South Wales, Australia, have given French independent power producer Neoen the green light to develop a large scale solar-plus-storage production facility in the region despite receiving 50 complaints from members of the public.
PV Tech Premium
March 19, 2021
Analysing the manufacturer's recent results disclosure, Mark Osborne details how Canadian Solar is falling behind its key rivals regarding its manufacturing expansions and shipments plans
March 18, 2021
‘Solar Module Super League’ (SMSL) member Canadian Solar is guiding a significant increase in PV module and energy storage shipments, resulting in full year 2021 revenue of between US$5.6 billion to US$6.0 billion, over 70% higher than revenue reported for 2020.
March 15, 2021
US utility Florida Power & Light (FPL) has filed a four-year rate plan that could see 894MW of solar PV systems added to the grid.
March 15, 2021
Powertis has started construction work on two PV plants in Brazil that each have a capacity of 112.5MWp and are the Spanish developer’s first solar plants in the South American country.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 13, 2021
Solar Media Events
April 20, 2021
Upcoming Webinars
April 28, 2021
4:00 - 4:30 PM CET