The World Bank has approved $480m in guarantees for 721MW of wind and 306MW of solar projects in Argentina that won power deals in the two initial tender rounds of its RenovAr renewable energy programme.
According to the body, bid winners of 12 wind projects and 27 solar projects are seeking World Bank guarantees for their developments.
“This [RenovAr] project promotes private investment in renewable energy sources to help satisfy the growing energy demand in the country with a clean energy source that strengthens sustainable development,” said Jesko Hentschel, World Bank director for Argentina, Paraguay and Uruguay.
