Wind came in at 15% below the $82/MWh cap while solar was 14.6% below the cap of $90/MWh.

This is the third stage in the tender that started in the second quarter of this year and aims to help the country meet its 20% renewable target by 2025, including a mid-term target of 8% by the end of 2017.

“We know the values of renewable power [in Argentina] and we can continue towards energy security with reasonable prices, and also continue in the fight against climate change and diversify our energy mix,” said energy minister Juan Aranguren.

Although