Argentine company Genneia SA has announced plans to invest in new renewable energy generation capacity. Within two years, photovoltaic and wind parks with a capacity exceeding one gigawatt are to be built.
“We are very proud to continue to set the direction in Argentina’s renewable energy market and to see photovoltaic and wind power increase their importance in Argentina’s energy mix,” Bernardo Andrews, CEO of Genneia SA, said in a statement.
Investment in renewable resources
The Argentine energy firm has already invested more than $1.2 billion in renewable energy over the past five years. Now it plans to add another $200 million to a photovoltaic and wind project that is expected to add more than a gigawatt of installed capacity.
Renewables market
Of this, 222 megawatts will be for photovoltaic power plants, and the remaining 887.5 megawatts for wind power plants. The project will consist of a total of 11 parks to be built in different locations in Argentina. This will strengthen Genneia’s position as a leader in the renewable energy market. Argentina currently has 24 percent of its installed capacity in wind and eight percent of its capacity in photovoltaics.
