Chilean solar developer Verano Energy has sold a 150MWp solar PV project in Argentina to an unnamed company.
Located in the western region of Mendoza, which borders Chile, the project is slated to start construction this year.
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Verano Energy expects to increase its presence in Argentina with more projects and add to its portfolio of more than 100 facilities, in different stages of development, across Colombia, Chile and Peru. These projects have a combined capacity of nearly 3GW.
Commenting on the operation, Ramiro Marquesini, Argentina country manager at Verano Energy, said it “means a reactivation of the Argentine market, which has been sluggish in recent years despite being a large country with high demand and abundant resources”.
Argentina has seen an increased interest in solar PV over the last year, including an oversubscribed auction in July 2023, which saw over 500MW of solar PV awarded. The government has also signed an agreement with ten northern provinces – Catamarca, Chaco, Corrientes, Formosa , Jujuy, La Rioja, Misiones, Salta, Santiago del Estero and Tucumán – to deploy 2.5GW of renewables, including solar PV.
Despite being one of the biggest countries in Latin America, after Brazil, deployment of solar PV in Argentina is still far behind neighbouring countries, with around 1.1GW of solar PV installed by the end of 2022, according to data from energy think tank Ember.