The United Nation’s Green Climate Fund (GCF) has allocated $133m in financing to Argentina’s fledgling renewable energy market.
The South American country will represent 42% of the $315m of new financing approved by the GCF’s board for 2017. Argentina recently held two tenders in which it contracted for more than 1.4GW of wind and 800MW of solar power.
The GCF will partner with the InterAmerican Development Bank (IDB) in the funding and aims to “catalyse private investment in sustainable energy” in Argentina.
