Argentinian renewables developer Genneia has invested US$250 million to build two solar plants in Argentina with a combined capacity of 273MW.
Located in the western region of Mendoza, the investment will be executed between 2024 and 2025 and comprises the construction of a 93MW and a 180MW solar park, with a US$90 million and US$160 million investment, respectively.
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The smaller project will consist of the installation of over 160,000 solar panels, while the other one will have over 360,000 solar panels installed.
These two projects will add to the ever growing portfolio of the renewables developer which has 1GW of solar and wind capacity operational in Argentina. Most of the installed capacity comes from wind power, with 220MW of solar PV distributed between three projects.
Despite being the second largest country in Latin America, behind Brazil, Argentina still lags behind in the solar PV market. Last year, the government signed an agreement with ten northern provinces to deploy 2.5GW of renewable energy capacity in these provinces.
More recently, automotive manufacturer Stellantis acquired a minority stake in local renewable energy company 360Energy Solar through a US$100 million investment.
