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Cámara Argentina de

Energías Renovables

Annual Report 2018

Cámara Argentina de Energías Renovables C.A.D.E.R. is a non-profit association aimed at promoting the sustainable development of the energy
market from renewable sources, including bioenergy, wind power, solar power, geothermal power,
small hydroelectric plants and tidal power.
Executive Committee Founded in 2008, C.A.D.E.R. is a reference in the industry of renewable energy in Argentina, and it
In the Argentine Chamber of Renewable Ener-
2018-2019 gies (CADER) our aim is to forge bonds between
acts as a coordination and interaction body among a wide spectrum of actors: country authorities,
business community, society, trade unions, academic institutions. It is a key player which enables the
Assembly of December 12, 2017 companies of the sector, allowing its members to
share information and experiences related to the dialog for the current and future development of power enterprises.
market. We work with other similar entities so
that the national and provincial legislation evolves
Marcelo Álvarez
according to the growth of renewable energies in
Mission - Vision Goals
The committee directors meet every month to an-
alyze projects and proposals in order to develop Mission: To support and make sure that renewable • To strengthen the diversification of the
Oscar Balestro
different technologies. We invite you to join our energies and its members grow in Argentina. primary and electric power matrix through
working teams. the use of renewable energy sources, aimed
Secretary Vision: We have the natural resources and the
Agustín Siboldi experience needed to make renewable energies a at reducing the carbon footprint and energy

true source of sustainable and secure energy. intensity.

Committees and its directors
Deputy Secretary • To decentralize the generation by bringing it
Horacio Pinasco
closer to consumption.
Bioenergy Our values
Treasurer Julio Menéndez • To promote the development of regional
Omar Díaz economies.
Photovoltaics • Transparency • Commitment
Marcelo Álvarez and Sonia de Sales-Lisboa • To promote the development of a competitive
Regular Board Members • Professionalism • National and international
Solar Thermal national industry.
Guillermina Vidal representation of the sector
Pablo Grecco • Know-how
Sonia de Sales-Lisboa •To contribute to a more efficient
Wind management and administration model.
Alternate Board Members Oscar Balestro
Nicolás Bin Cornerstones • To promote the adequate planning and
Darío Febré Small hydro development of the necessary infrastructure.
Jorge Ayestarán Carlos Calderaro
• To boost the development of the market through • To deepen the integration of the electrical
Electrical Grids the representation of the sector and the promotion system with the neighboring countries.
Auditor Luciano Masnú | Jorge Ayestarán of a normative frame in the long term.
Luciano Masnú • To cooperate with the dissemination and
Tax and Legal Matters • To facilitate the development of business, human awareness of the efficient use of renewable
José Carlos Cueva | Omar Díaz
Alternate Auditor capital and infrastructure in the sector through energy in local communities in order to obtain
José Carlos Cueva Foreign Trade public-private articulation, companies, trade unions, social license.
Agustín Scornovacche customs departments and other involved actors.
• To ensure equal and transparent access
Financing • To communicate its principles to the society to the transmission and distribution
Florencia Balestro and Martín Dapelo through publications, workshops and debates. infrastructure.

9 Renewable energies, a shift in the 87 Renewable energies: a state policy

paradigm of the energy matrix
93 Power generation panorama:
13 The RenovAr Program, a turning point contributions for a collective vision

23 Expectations on the advances 97 Bringing down myths

of the MiniRen Round

27 Term Market: the details

of a growing business

39 Wind Energy: status 101 The PPP project in relation

and next challenges to the Electricity Market

47 Photovoltaic Solar Energy: with falling

prices and the focus set on small-scale
104 Glossary
105 List of partners 
53 Global Solar Council: the role of
Argentina in a worldwide sectorial

57 Bioenergy: specific requirements and

positive externalities

65 Synergy between Nation, companies

and provinces: the challenges of
promoting the distributed generation

71 Sectorial meetings on renewable

energies: a great opportunity

73 Financing: sine qua non condition

for renewable energies

81 Transmission: a bottleneck that

requires decisions

83 Impact of the tax reform in renewable

energy projects
Renewable energies, a
shift in the paradigm of
the energy matrix
Marcelo Álvarez, President of CADER

A rgentina is changing its energy matrix by tak-

ing advantage of the potential of renewable
energies. If we take into consideration the tenders
New job positions will be created in all provinces, en-
ergy security will be ensured by diversifying the use
of renewable sources in each region and the capacity
of the RenovAr Program and the Renewable En- of the 13.2 kV and 33kV power grids will be used.
ergy  Term  Market (MATER), as well as the projects
We will provide support through the implementation
awarded through the Resolution 202, about 6,000
of this model, knowing that we will encounter the
MW should be generated in a relatively short period
typical issues that arise when a market is in the initial
of time. This challenge forces us to plan the devel-
stage of its learning curve. This model is supported
opment of the industry with a comprehensive and
by the power of the plants under construction. It is
long-term perspective.
worth mentioning that the low prices involved in the
A shift into a cleaner and more sustainable matrix RenovAr Program got the attention of the market
shouldn’t be just a simple technological change. A and caused the expansion of other niches. In fact,
broad and successful strategy must be designed to most decision-makers in the political sphere are cer-
bring energy generation and consumption closer. tain that the sector is highly competitive.

We want to insist on the enormous economic and This comprehensive perspective, involving big, me-
social benefits that this will bring to the country. dium and small power plants, has been CADER’s

Annual Report 2018 9

main focus since it started ten years ago in 2008. We
are proud to celebrate the first decade in the middle
of this dynamic debate about energy transition; a
debate that is still open and that has to be analyzed
more in depth.

As an institution, we take part in the exercises that

give a projection of the matrix towards 2040 and
2050 and we submit proposals in national climate
change meetings. In addition, we point out the crit-
ical aspects of the RenovAr Program that need im-
provement in the meetings of the sector, which are
attended by the members of the most important
Energy and Production organizations, the Argentine
President, government authorities of all the areas
involved, businesspeople and union members.

We also gather with and give ideas to key actors re-

lated to the industry: private and public banks, pro-
vincial governments, national government authori-
ties, national and international companies, academic
institutions, among others. Due to this exposure, we
doubled the number of our members in a short peri-
od of time, making our voice stronger to the author-
ities. We do this because we know that the success
behind renewable energies relies on the actions of
those who are part of the industry.

We definitely have to wait and see how things turn

out in order to carry out a deeper evaluation. How-
ever, we can say that the bottlenecks in the system This is another step towards the transformation that What is our contribution? Our role is to diversify When we hold meetings with government authori-
of electric transport cause a great concern due to will bring many benefits and help with the develop- the matrix through the use of renewable energies, ties we always express our concerns so that the proj-
the lack of related effective policies. If we don’t do ment of the value chain throughout the country. working to ensure it’s done in a fast, efficient and ects awarded by the RenovAr and MATER programs
anything about it, our sector will stop growing, re- economical way, trying to avoid mistakes already can be successfully built in due time and proper form.
What was exposed before is complementary with
sulting in the closing of companies and the loss of made by other markets and adopting models which Today we can learn from our own experiences and
the power distributed to houses, businesses and
job positions. proved to be successful in other countries. not just from our neighboring countries or countries
industries. This brings opportunities to develop
The condition of the infrastructure reflects the ex- which are more advanced in this matter.
the national industry of the sector in a sustainable Since we are a diverse group of companies, we en-
tent to which we need regulations that allow the way, especially small and medium-size companies courage the different internal commissions to de- It is time to take pride in the steps we are taking, to
construction of medium or low-power wind, solar, in the provinces that invest in creating job positions bate. This gives us a comprehensive perspective at study the way and take successful ideas from other
biomass and small-hydro power plants, in particular, and gaining knowledge. We need to help them by the time of making proposals, regulations and proj- economies, as stated by the technology roadmaps,
and medium or low-power power plants based on developing a clear industrial policy, giving them an ects. We consider it is very important to think and and to get ready to what’s to come. After all, renew-
renewable energy sources, in general. We have made appropriate incentive to avoid unsustainable situ- plan long term and, at the same time, to take into able energy is the present and future of the energy
suggestions on this matter and we appreciate that ations and by improving the financing provided by consideration the daily process experienced by the matrix.
authorities have listened and paid attention to them. local banks to all the value chain. market and our partners.

10 Cámara Argentina de Energías Renovables Annual Report 2018 11

The RenovAr Program,
a turning point
It’s been almost three years since the Act No. 27191 was passed, which
involves adding 10,000 MW, generated by renewable energy sources to
the electrical grids towards the year 2025. This calls for a review of all the
projects that have been launched so far.

n 2018, the use of renewable energies has ad- es must be added to the electrical power system of
vanced at a good pace in Argentina, after the the country.
momentum that made 2017 the “year of renew- The Act. No. 27191, passed in September of 2015
able energies”. This slogan was adopted by the by common consent, set the goals for the country
Argentine government to promote the use of re- to develop renewable energies and created a legal
newable energy sources, until the goal of repre- framework which allows to plan the market long
senting the 20% in the energy matrix in Argentina term and provides predictability of investment be-
is achieved. In order to accomplish this objective, havior. Regulations establish two contracting mech-
10,000 MW generated by renewable energy sourc- anisms: joint purchase through public bidding or free


12/31/2017-2018 12/31/2019 12/31/2021 12/31/2023 12/31/2025

8% 12 % 16 % 18 % 20 %

Annual Report 2018 13

PROGRAM 2016-2025
Regulation Framework
and direct contracting between producers and Great bidding winners through the FODER (Fund for the The strong appetite evidenced in Round 1 and the
Authorized Users (GAU), defined as those whose an- Development of Renewable Energies) and by having competitive prices encouraged the Government to
Act 27191 nual average power demand is 300 kW or above. the World Bank guarantees at the disposal of poten- immediately call for a second tender for those projects
Senate 2014 Chamber of tial bidders. The aim of this guarantee scheme was to that had not been awarded (Round 1.5). At first, the
(94% of Deputies provide transparency and to promote financing for installed capacity was set at 600 MW, so that small
positive 2015 (93% projects. The scheme had a double objective: to pro- projects could be distributed among the provinces.
votes) of positive
votes) The RenovAr Program tect the buyer’s (CAMMESA) payments and to miti-
This call also had a successful response from the
gate any systemic risk that might arise during the 20
In May 2016, the former Energy and Mining Ministry market.
years of duration of the contract, including termina-
Decrees 531 and 882 held the first round of the RenovAr Program, with
tion guarantees. Before the two tenders were held, 47 offers were presented, comprising a total in-
2016 the aim of attracting investments to develop renew- stalled capacity of 2,486 MW (1,561 MW from wind
the bidders had the chance to request for a risk mit-
able energy projects and achieve the set goals. projects and 925 MW from solar projects) and 30
igation. Furthermore, the required installed capacity
RenovAr is a plan designed to add renewable energy appeared in the tender Appendix No. 3.1 and 3.2, in projects were awarded, with an installed capacity of
RenovAr Legal
sources to the energy matrix. In this process, there order to reduce future restrictions on transmission, 1,281 MW, which doubles the required amount. The
Program Framework
Renewable is an open call for obtaining electrical energy in the capacity and availability of connection nodes.
Energy Term  MEM (Wholesale Electricity Market), produced by
(MATER) renewable sources, using the sun, the wind, water
In the first three rounds
and the biomass. So far there has been three calls:
Round 1, Round 1.5 and Round 2, in which a total of Round Results of the RenovAr Program,
Round 1 Res. 281/2017
Resolution (Res.)
71 and 136/2016
147 projects were awarded.
Round 1 of the RenovAr Program was a huge suc-
147 projects were
Round 1.5
Res. 252/2016
The RenovAr mechanism has tried to address and cess. There were 123 offers with five different types awarded to 21 provinces
Round 2
Res. 275/2017
solve problems that arose in the GENREN (Renew- of technologies (mainly wind and solar photovoltaic with the aim of adding
able Energy Generation Program) Program in 2009, energy). The installed capacity offered was six times
Round 3
End of 2018 in which a high percentage of awarded projects was higher than the one requested in the tender (10,000
4,466.5 MW produced
carried out. The main change we wanted to intro- MW) and prices were highly competitive, about 40% from renewable sources
duce was to ensure better financial conditions for the lower than the maximum set price. to the energy matrix.


Ex-ante RenovAr + actions until 2018


3 GW 10 GW Ex-ante RenovAr RenovAr actions to date

25% 0.8 GW RenovAr Round 1 1.1 GW 2.7%
% of the total electric demand

20% RenovAr Round 1.5 1.3 GW 3.0%

20% 18% Legacy Contracts (Res. 202) 0.5 GW 1.5%
15% RenovAr Round 2 2.0 GW 4.9%
TOTAL 4.9 GW 12.1%
10% 8%
5% MATER actions until 2018 0.8 GW

0% Note: Percentage of renewable energy out of the total demand, calculated with the
2018 2019 2020 2021 2022 2023 2024 2025 P75 of the estimated generation and the demand projected for 2018.

Source: Secretary of Energy

14 Cámara Argentina de Energías Renovables Annual Report 2018 15

Job creation Argentina
Renewable Energies RenovAr Rondas 1, 1.5 & 2 y Res. 202
August 2018

Technology Type Projects MW GWh/year USD/MWh ESTIMATED TOTAL: 17,446 JOB POSITIONS
157 44
projects projects
awarded through through
Wind 12 707.5 3, 002 59 RenovAr MaTer

Solar 4 400.0 959 60 Construction Operation and Maintenance (O&M)

15,391 2,055

Total 6,047 MW job positions job positions

Biogas 6 8.6 58 154
Construction O&M

Biomass 2 14.5 121 110 3,738 MW 7,086 745 3%

job positions job positions

Small-hydro 5 11.4 65 105 Construction O&M 17% 8%

1,996 MW 5,556 431
Total/Average 29 1,142.0 4,205 61.33 SOLAR
job positions job positions

Source: former Energy and Mining Ministry Construction O&M
281 MW 2,316
job positions
job positions

32 MW 433 81
job positions job positions
100% 90% 86%
BIOENERGIES: Biomass, biogas and landfill biogas. P.A.H: (Pequeños Aprovechamientos Hidroeléctricos) Small-hydro Power Plant.

59 RenovAr projects (50 projects under construction and 9 in operation)

17% 100% 100%
Technology Type Projects MW USD/MWh GWh/year
Construction Operation and Maintenance
Wind 10 765.4 53.00 3,037 PROJECTS IN OPERATION AUGUST, 2018
83% 69% 43%
Total 2,373 MW job positions job positions

Solar 20 516.2 54.00 1,274

Total/Average 30 1,281.5 54.98 4,311 CURRENT JOB POSITIONS: 5,094 52% 36% 11% 1%

Source: MEyM

average price was about 54 USD/MWh, so prices Even though foreign and national investors attend- This time, the offers had an installed capacity of comprising a total installed capacity of 4,666.5
were even better than the ones offered in the pre- ed these calls, the local ones made a greater num- 9,321 MW. In the first phase, 66 projects were MW with an average price of 54.2 USD/MWh.
vious round. ber of offers. Although the weighted price was lower awarded with a total of 1,400 MW. The prices of-
The National Agency of Investments estimates that than the one expected by the Government, it was fered were surprisingly low: the lowest price in
the private investment required for the develop- even higher than the numbers from the region. wind energy projects was 37 USD/MWh and 40
ment of the projects will be of 4,000 million dollars USD/MWh in solar projects. In the second phase, Price Development
Since 2016 evidenced really good results, the fol-
and that 20,000 job positions will be created. 22 projects were awarded, which added 634 MW Even when the required price for Round 1 was 90
lowing year another call for tenders of renewable
to the system: 4 wind projects with a price of USD/MWh, the prices offered by wind and solar
In both rounds held in 2016, a total of 59 projects energies was held in the country, known as Round
about 40 USD/MWh, 5 solar projects with an av- projects were of about 55 and 57 USD/MWh, re-
were awarded, which will add 2,500 MW to the sys- 2. The required installed capacity for these projects
erage price of 41.6 USD/MWh and 13 biomass and spectively. A year later, in Round 2, the set price
tem, completely generated from renewable sources. was 1,200 MW. In this tender, the participation of
biogas projects with an approximate price of 137 was 57 USD/MWh, while the prices offered were of
This represents an 8% increase of the installed ca- the regions was even higher and each one got as-
USD/MWh. about 40 and 42 USD/MWh.
pacity of the country. signed an amount of installed capacity and a type of
As can be seen, wind energy had a stronger participa- technology. As regards wind energy, Buenos Aires, In total, 88 projects were awarded in Round 2, with This comparison shows that the system saved
tion: in both rounds, 22 wind projects were awarded Comahue and Patagonia were appointed 200 MW, an installed capacity of 2.043 MW and an average approximately a 25% in solar photovoltaic ener-
with an installed capacity of 1,473 MW and an expect- with a limit of 450 MW in total, and the rest of the price of 51.48 USD/MWh. In this case, Argentina gy and a 27% in wind energy. The reasons: even if
ed electricity generation of 2,233 GWh. Solar photo- country received 100 MW. As regards solar energy, was closer to compete with the highly competitive financing rates might have remained unchanged,
voltaic energy comes in second place: 24 projects the Northwestern and Cuyo Regions were assigned prices of other tenders of the region. If we ana- companies gained more knowledge on the market
were awarded with an installed capacity of 916 MW 200 MW each, and 100 MW were given to the rest lyze it as a whole, the RenovAr Program awarded conditions and took risks using a price that was
and an expected electricity generation of 244 GWh. of the country. 147 projects of renewable energy, to 21 provinces, lower than the reference price. In terms of tech-

16 Cámara Argentina de Energías Renovables Annual Report 2018 17

RESOLUTION 202 AND ROUNDS 1, 1.5 AND 2 OF THE RENOVAR PROGRAM RENOVAR PROGRAM. Installed capacity set according to the region and technology type.

Estimated commercial operation date (cumulative) 2018 2019 2020 2021

660 MW 3,625 MW 4,890 MW 4,966 MW Capacity based on technology type (MW)
Region Landfill Capacity
Proyects Biogas Biomass Wind Solar
RenovAr Rounds 1 and 1.5 and Resolution 202 Biogas PAH (MW)
Proyects Energy Energy Energy

2.92 GW 2018 state of awarded projects Buenos Aires 24 10 10 14 1.011 – – 1045

9.6 TWh/year PROJECTION Central 32 24 – 13 48 2 161 248
69 awarded projects 2016 2018
of PPAs (Power Purchase Comahue 7 2 – – 322 7 – 331
Agreements) were signed Cuyo 29 – – – 50 24 715 788
Litoral 12 20 4 7 – – – 31

1 - FODER 576 Thousand USD (41 proyects) 7% in operation 17% in operation

2 - Soberana 4,500 Thousand USD Northeastern 10 – – 103 – – – 103
2,545 Thousand USD 52% under construction 68% under construction
3 - World Bank 480 Thousand USD investments in progress Northwestern 25 6 – 66 295 – 8 375
41% financial close 15% financial close
Patagonia 18 – – – 1.186 – – 1186
RenovAr Round 2 Total 157 62 14 203 2.912 33 884 4108

PRICE DROP IN ROUND 2 Source: self-made table based on the information obtained from the RenovAr Program and the Resolution No. 202/16.
2.04 GW 7.3 TWh/year -22% lower than the average price in Rounds 1 and 1.5
40.4 USD (Minimum price)
88 awarded projects
11 PPAs signed - 29% lower than the average price in Rounds 1 and 1.5 nology, costs of the main components were re-
37.3 USD (Minimum price)
duced, especially in the wind industry. There was
also more pressure at the time of contracting ser-
vices. Furthermore, companies which were award-
ed projects in rounds 1 and 1.5 knew how to take
advantage of their profits, in terms of the econo-
ROUNDS 1, 1.5 AND 2
mies of scale, at the moment of giving their quo-
147 Awarded Projects: 4.466 MW and 15.836 GWh/year
tation in Round 2.

The Status of Renewable

Projects in 2018
After 2016, 157 projects were awarded through the
RenovAr Program and the Resolution 202. How-
WIND ENERGY SOLAR ENERGY BIOGAS, SMALL-HYDRO ever, an agreement from Round 1.5 was terminat-
Proyects: 34 Proyects: 41 LANDFILL BIOGAS POWER PLANTS
MW: 2,466 MW: 1,732 AND BIOMASS Proyects: 14 ed because a company didn’t fulfill the contract
GWh/year: 9,778 GWh/year: 4,290 ENERGY MW: 32
Proyects: 58 GWh/year: 103 obligations. The projects represent a total capac-
MW: 236
GWh/year: 1,665 ity of 4,931.488 MW to be installed: 41 photovol-
taic solar projects, 41 wind projects, 14 small-hy-
dro projects, 3 landfill biogas projects, 19 biomass
projects and 37 biogas projects.

18 Cámara Argentina de Energías Renovables Annual Report 2018 19

Projects in operation
until July, 2018
Other 41 projects must be added to the ones already
mentioned, which were given priority by the MATER
BIOGAS PROJECT 2.00 MW C.T. (Thermal
(Renewable Energy Term Market) Program. This re-
RenovAr Program sults in 197 investment proposals and an installed
Power Station) Río Cuarto, Córdoba

BIOGAS PROJECT 9.00 MW C.T. Prodeman, Córdoba

capacity of 5,941.068 MW.
7,000 4.5 millon BIOGAS PROJECT 2.00 MW C.T.
Today, 81 plants are either in operation or under
millon USD households reached Pindó Eco-Energía, Misiones
construction. 62 were awarded through the Reno-
Direct Investment BIOGAS PROJECT 1.42 MW C.T.
vAr Program and the Resolution 202. Together, they San Pedro Verde, Santa Fe
reach an installed capacity of 2,393.995 MW and
BIOGAS PROJECT 1.20 MW C.T. Yanquetruz, San Luis

147 12 to 30 4,466 MW 15 TWh/year they represent an investment of over 3,600 million

BIOGAS PROJECT 7.00 MW P.A.H. (Thermal
awarded Months until New capacity Renewable Power Station) Río Escondido, Río Negro
projects the COD generation Out of the remaining 19, 17 correspond to the MA- WIND PROJECT 100.00 MW P.E.
(commercial TER Program and the other 2 are not related to any (Wind Park) Corti, Buenos Aires
operation date)
of these programs. Source: Energy and Mining Ministry

95% 8.4 millon The National Secretary of Energy, in charge of Javi-

t of CO2 avoided. er Iguacel, considers that fifteen clean energy plants
of the Argentine
The equivalent of 1.5 will come into operation by the end of the year 2018:
million of cars 11 solar parks, 2 wind parks and 2 bioenergy plants.
34 Wind projects They are expecting to start the year 2019 having at
least 22 renewable energy power plants in operation.
41 Solar projects
18 Biomass

36 Biogas

4 Landfill Biogas

14 PAH projects

20 Cámara Argentina de Energías Renovables Annual Report 2018 21

Expectations on
the advances of the
MiniRen Round
At the end of this text, the bid documents will remain unknown. However,
even though the Round 3 of the RenovAr Program surpasses the previous
ones in terms of requirements, it presents some weaknesses.

I n the conference Argentina Wind Power 2018, or-

ganized by the GWEC (Global Wind Energy Coun-
cil), held in the City of Buenos Aires on September
Another characteristic of this RenovAr round is
that there will be less requirements than in the
previous ones. Neither of the following will be re-
6 and 7 of 2018, the Undersecretary of Renewable quired: to have a strategic partner, to present a
Energy, Sebastián Kind, presented the main outlines statement of electricity to be generated, to pres-
of the new call for tender named MiniRen Round 3. ent a measurement report, to have lands free from
According to him, the tender will be for 400 MW di- encumbrances, or to have an environmental ap-
vided in the following way: 350 MW will be destined proval by the date of the offer. Furthermore, since
for photovoltaic solar and wind energy, 10 MW for this scheme is more flexible, it will be allowed to
small-hydro energy, 25 MW for biomass energy, 10 form temporary consortiums (UTEs) and create
MW and 5 MW for biogas and landfill biogas energy, trust funds.
respectively. Apart from the last technology type, Since the voltage to be connected belongs to the
the rest will be divided among the regions. distributors’ jurisdiction, an agreement has to be
It will be connected to 13.2 kV, 33 kV or 66 kV electri- reached with them in terms of connection, capac-
cal grids. The capacity limits will range from 500 kW ity and payments to CAMMESA (Wholesale Elec-
to 10 MW. tricity Market Management Company).

22 Cámara Argentina de Energías Renovables Annual Report 2018 23

The project will be awarded based on the price, not renewable energies are still being added, diversified
the COD. The chosen price will not have inflationary and regionalized. We are still promoting the devel-
adjustments or incentives. It will not receive dispatch opment of companies and SMEs, which provide
priority or guarantees from the World Bank. goods and services to smaller projects. As regards
weaknesses, benefits such as inflationary adjust-
According to the published timeline, offers will be
ments or incentives have been eliminated, which
presented in March, projects will be awarded in May
might lead to higher prices. Since measurements are
and contracts will be signed in July, 2019.
not required and there is no dispatch priority, proj-
CADER considers (before knowing the end of the bid ects might lose quality and soundness. This makes
documents) that the tender scopes have advantag- results to be uncertain.
es and some weaknesses. In terms of advantages,

24 Cámara Argentina de Energías Renovables Annual Report 2018 25

Term Market:
the details of a
growing business
MATER is the alternative for large users who want to purchase their quota
of renewable energy through private contracts. Here you can find detailed
information on this situation.

s it’s been said before, Act 27191, a regime to they have an average annual demand of 31.4 TWh
promote the national use of renewable energy (Table 1). Therefore, by 2025, they must consume
sources to generate electrical energy, (which modi- a minimum of 6.3 TWh of renewable energies to
fied Act 26190/2006) states that all the users must achieve the goal of Act 27191.
contribute to the goals and use more renewable
sources when consuming electrical energy until the
following objectives are achieved: 8% by the end of
2017, 12% by the end of 2019, 16% by the end of 2021, Three Options to Obtain Energy
18% by the end of 2023 and 20% by the end of 2025. The Large Users (GU) have three different ways to
comply with this obligation:
Furthermore, section 9 of the act states that
self-generators, the Large Users of the Wholesale 1. Generation, self-generation or cogeneration
Electricity Market (GUMA- Major Large Users- (having their own project that allows them to
and GUME- Minor Large Users), Large Distribu- meet the requirements)
tion  Company  Users (GUDI), with demands of 300 2. Entering into a contract with the owner of
kW or more, should achieve those goals individually. a renewable energy power plant (commonly
These are called Large Authorized Users (GUH) and referred to as a private PPA)

26 Cámara Argentina de Energías Renovables Annual Report 2018 27


Type of user Total Demand Average Installed Number JOINT PURCHASE It meets the demand of <300 kW
2017 (MWh) Capacity 2017 (MW) of Users (RenovAr Program and other initiatives and of large users who don’t exercise
from the Energy and Mining Ministry their opt-out right.
Major Large Users (GUMA) 19,347,444.6 5.7 390 All users (MINEM)) The price is fixed in the tender.
Self-generator 632,017.7 4.8 15 are bound
Large users >300 kW who exercise

Minor Large Users (GUME) 3,409,858.9 0.7 586

their opt-out right can negotiate freely.

Large Distribution Company Users (GUDI) 8,021,051.7 0.8 1,098 Annual goals subjected to penalty.
Total 31,410,372.8 1.7 2,089 SELF-GENERATION Price, terms and conditions agreed
between private participants.
Source: Self-made table based on information provided by CAMMESA. * With private generators, suppliers and/or distributors.

The average annual 3. A joint purchase through the RenovAr Rounds, able Energy Term Market (MATER, MEyM Resolu- chase mechanism. If the new option has been con-
for those GU who like this option or the ones who tion 281-E/2017) became known, stating the condi- firmed, they will have the chance to go back to the
demand of Authorized refrain from choosing one (a default solution). tions to regulate contracts between the renewable joint purchase mechanism after a period of 5 years.
Large Users is 31,4 self-generation and the large users of the MEM.
In order to make sure the goals of the Act are being
TWh. In 2025, they According to CAMMESA, this regime covers about complied with, once a year CAMMESA will fiscalize
must consume 6,3 2,000 GUH (19 with an installed capacity higher than the cumulative results of monthly operations of
PPAs in the MATER Program 20 MW; 92 with an installed capacity that range be- those GUHs who were excluded from the joint pur-
TWh of renewable chase mechanism.
Some important aspects came up after the negoti- tween 5 and 20 MW and 1,959 ranging between 0.3
energy to comply ations between the private participants. In fact, in and 5 MW). The list of GUH will be updated every As a benefit, those GUHs who decide to no longer
with Act 27191. the third quarter of 2017, the Regime of the Renew- year in February. use the joint purchase mechanism won’t have to pay
for the administration and commercialization fees,
which will become applicable as of January, 2019.
These fees apply to the monthly energy provided by
Exclusion from joint purchases
the joint purchase agreements, until the percentage
Every year in February, CAMMESA publishes the list set by the goal of the Act 27191 (Table 2) is reached.
of those GU who meet the requirements to become
excluded from the joint purchases: the GUHs. The
option of being excluded from this mechanism is
given twice a year, in May and November. When the TABLE 2. AMINISTRATION FEE
GUHs inform that they want to choose this option, OF JOINT PURCHASES
they must state the estimate percentage of de-
mand that they will self-generate or obtain through Administration Fee (USD/MWh)
the MATTER Program, which must be higher than
2017-18 2019-20 2021-22 2023-24 2025-30
the one set by the goals of the Act 27191.
0 0.05 0.05 0.05 0
Once this new mechanism has been adopted, the
Source: Resolution 281-E/2017
GUHs will have 6 months to go back to the joint pur-

28 Cámara Argentina de Energías Renovables

Furthermore, those GUHs who decide to stay out of
User Total Demand 2017 (MWh) Average capacity 2017
1. To promote investments for the the joint purchase mechanism will get a discount on
generation of electrical energy Aluar SA 2,521,557.4 287.8
the reserve capacity fee, related to the firm capacity: Banco Macro – Centro Tec. Macro 3,607.7 0.4
from renewable sources.
the average monthly capacity obtained through the Capea Bueras SAIYF 7,572.6 0.9
2. To regulate MEM’s contracts and
MATER Program will be multiplied by the inflation- Capea Lanús SAIYF 9,067.9 1.0
the self-generation of electrical
energy from renewable sources. ary adjustment of the corresponding biannual peri- Cican - Saavedra – Monte Grande 16,901.3 1.9
od (Table 4) and the resulting number will be sub- Coca Cola FEMSA – Pompeya 43,767.0 5.0
3. To establish the dispatch priorities
according to the capacity of the tracted from the total amount of the required firm FATE SA – San Fernando 91,838.2 10.5
electrical grid in order to avoid the capacity. In May 2018, the value of this fee without Loma Negra – Catamarca 137,841.8 15.7
congestion of renewable projects. reductions is about 7 USD/MWh. Loma Negra – Olavarría 162,758.7 18.6
Meranol 12,014.9 1.4
In June, 2018, it’s been a total of 42 GUHs who have
Minera Aguilar SA 3,243.5 0.4
decided to stay out from the joint purchase mecha- OroPlata SA 103,295.1 11.8
nism (Table 5). In terms of demand and average in- Profertil SA – Bahía Blanca 259,516.8 29.6
stalled capacity, these GUHs account for 18% of the Toyota – Zárate 74,499.8 8.5
total of GUHs of the MEM. YPF – Morse Avellaneda 6,866.6 0.8
YPF – Term. La Matanza 3,270.3 0.4
YPF – Yacimiento El Portón 2 4,376.5 0.7
Maximum Commercialization Fee (USD/MWh)
Dispatch Priorities YPF – El Tordillo 37,821.9 4.3
2017-18 2019-20 2021-22 2023-24 2025-30 YPF – Km 5 40,097.2 4.6
Those power plants which want to sell energy under YPF – Las Heras 280,401.6 32.0
0 6 10 14 18
the regime of the MATER Program can ask for a pri- YPF – Petroquímica La Plata SA 161,138.1 18.4
Source: Resolution 281-E/2017
ority of dispatch due to the restrictions on the trans- YPF – Refinería Luján de Cuyo 241,311.6 27.5
mission capacity. This is assigned every three months. YPF – Refinería La Plata 482,656.2 55.1
TABLE 4. INFLATIONARY ADJUSTMENT APPLIED In order to obtain this priority, the interested genera- YPF – Río Tunuyán 3,411.9 0.4
TO THE SUBTRACTION OF THE FIRM CAPACITY tor has to make a request to CAMMESA and submit a YPF SA 15,737.6 2.4
FEE, BASED ON THE ENERGYOBTAINED document certifying the start of the registration pro- YPF SA 155,943.5 17.8
THROUGH THE MATER PROGRAM cess in the RENPER (National Registry of Renewable YPF SA 4,637.2 0.5
Energy Projects), among other documents. CAMME- YPF SA – EB Cacharí – Azul 8,554.8 1,0
Inflationary Adjustment Applied to the SA will keep an updated list with the available capac- YPF SA – EB Chillar – Azul 10,989.2 1.3
Subtraction of the Firm Capacity Fee ity that can be dispatched to assign priorities in the YPF SA – EB Las Flores 12,148.8 1.4

2017-18 2019-20 2021-22 2023-24 2025-30 different interconnection points (PDI). YPF SA – Edif. Sede Central 8,351.3 1.0
YPF SA – Edif. Torre Blanca 7,388.2 0.8
100% 100% 75% 50% 25%
YPF SA – EB Espinillo 4,172.4 0.5
Source: Resolution 281-E/2017 YPF SA – EB I. Rico – Pringles 18,267.1 2.1
YPF SA – EB El Sosneado 12,322.5 1.4
Project Selection YPF SA – Yac. Vizcachera ex Astra 289,787.4 33.1
The commercialization fee will apply according to the If the number of requests exceeds the transmission YPF SA – Sede Puerto Madero 13,076.5 1.5
GUHs average monthly capacity and to the maxi- capacity of a determined PDI, CAMMESA will deter- YPF SA – Yac. Puesto Hernández 274,017.4 31.3
mum fee established by each biannual period. Those mine the priority of each project. The first aspect to YPF SA – Yac. Medanito 39,741.7 4.5
GUHs whose average monthly installed capacity is determine the level of priority will be the best COD, YPF SA – Yac. Mendoza 33 kV 74,892.5 8.5
YPF SA – Yac. Mendoza 66 kV 117,477.2 13.4
higher than 20 MW will have to pay the entire max- if the difference between projects is bigger than 60
YPF SA – Yac. Río Neuquén 10,236.3 1.2
imum fee, while those GUHs with a lower installed days. If the difference is smaller, the capacity factor
Total 5,786,576.0 661.3
capacity will have a fee reduction, linearly propor- (FC) will determine the result, as long as the differ-
% over the total of GUHs 18% 18%
tional to its monthly capacity, reaching a 20% for 0 ence is bigger than 10%. Otherwise the defining vari-

30 Cámara Argentina de Energías Renovables Annual Report 2018 31

PE Energética I - Energética Línea 132 kV Bahía Blanca
19.15 2/10/2019
Fase II Argentina – TORNQUIST
Línea 132 kV Bahía Blanca
able will be the amount of fiscal benefits requested, Parques Eólicos del
Agreements signed in PE. De la Bahía 20.51 - Monte Hermoso 6/7/2019
Fin del Mundo SA
if the difference is higher than 30,000 USD/MW. Fi- the MATER Program - Cnel. Dorrego
nally, if there’s still a tie, the dispatch priority will be Línea 132 kV Carmen de
Up to July, 2018, 108 contracts were entered into PE Villalonga II Genneia SA 3.45 1/31/2019
determined by draw. Patagones - Luro
in the sphere of the MEyM Resolution 281-E/2017.
Table 6 shows in detail the projects which were as- Línea 132 kV Bahía Blanca
96 contracts were related to the Wind Park PE La Genoveva II CP Renovables SA 41.8 2/5/2019
– Cnel. Pringles
signed dispatch priority at the end of August. Parque Eólico Manantiales Behr, belonging to YPF
Parques Eólicos Línea 132 kV Las Armas -
Out of the 44 projects selected, wind and solar Energía Electrica SA, which will supply energy to PE Las Armas 50 6/10/2019
Argentinos SA Madariaga
energy received the same proportion of projects. different points of consumption in YPF itself. The
Línea 132 kV
However, the assigned wind capacity rises to 827 other 12 corresponded to the Wind Park Parque Parque Eólico del
PE Del Bicentenario II 21.6 Petroquímica - Puerto 3/30/2019
Eólico Rawson III, owned by Genneia, which will Bicentenario SA
MW (77% out of the total). As regards the amount Deseado
of energy, considering that the net FC for wind en- supply energy to different points of consumption
Arribo 3 - T3 132 kV
in Loma Negra and the OroPlata SA mining com- PE Aluar I Aluar Aluminio SAIC 50.4 2/1/12018
ergy is 45% and for solar energy is 25%, the as- Planta Aluar
signed capacity will allow an annual generation of pany (Table 7).
Línea 132 kV Nonogasta -
3.8 TWh. PSFV Nonogasta VI Sustentables SA – 13 12/9/2019
360 Energy
PSFV Parque Empresa Federal de
12 Chamical 2/23/2019
de los Llanos Energía SA (EFESA)
Installed Línea 33 kV Cafayate -
Business Name PSFV San Carlos Sybac Solar IV SA 7 20/2/2019
Capacity Cachi
Project Provided in the PDI Description Estimated COD
Request Línea 132 kV Villa
(MW) PE Achiras II CP Achiras II 49.4 9/15/2019
Mercedes - Maranzana II
Línea 132 kV Bahía Blanca
Parques Eólicos del PSFV Solar de Generadora Solar
PE De la Bahía 28 - Monte Hermoso - 05/10/2019 5 El Marcado 12/3/2018
Fin del Mundo SA los Andes Santa Rosa SA
Cnel. Dorrego
Latinoamericana Línea 33 kV Calingasta
PE La Castellana II Central Puerto SA 15.75 Chañares 1/4/2019 PSFV Tamberías 3 4/27/2020
de Energía SA Vieja - Tamberías
PE Pampa Energía Greenwind SA 50.4 Bahía Blanca 132 kV 105/0/2019
PSFV Tocota Solar I Isla Power SA 50 Bauchazeta 3/3/2019
YPF Energía Línea 132 kV Diadema -
PE Manantiales Behr 99 1/22/2020 Latinoamericana
Eléctrica SA Pampa de Castillo PSFV Los Diaguitas 2 Albardón 3/3/2019
de Energía SA
PE Rawson III Genneia SA 24 Rawson 1/22/2020
PS Parque de Empresa Federal de
8 Chamical 8/13/2020
Energías Línea 132 kV Nonogasta - los Llanos Energía SA (EFESA)
PSFV Nonogasta V 14.97 1/22/2020
Sustentables SA Malligasta
Green Valley Línea 132 kV Belén -
PS Green Valley Solar 34.38 8/13/2020
Energías Solar SA Andalgalá
PSFV Saujil III 8 Saujil 1/22/2020
Sustentables SA Ledesma Línea 33 kV Ampajango -
PS El Puesto 12 8/13/2020
PSFV Cafayate Solar Cafayate Solar SA 3 Cafayate 1/22/2020 Renovables Santa María
Línea 132 kV Villa Solares de San
PE Achiras II CP Achiras II SAU 30 1/22/2020 PS San Miguel 35 La Candelaria 8/13/2020
Mercedes - Maranzana II Miguel SA
Parques Eólicos Línea 132 kV Gral. Acha - PS Cura Brochero Línea 66 kV La Viña -
PE La Banderita II 10.8 7/22/2019 PS Cura Brochero 8 8/13/2020
Vientos del Sur SA Puelches SAU Cura Brochero
Línea 132 kV Choele Choel PS Villa de María PS Villa María Villa de María
PE Pomona II Genneia SA 11.7 3/27/2019 10 8/13/2020
- Beltrán de Río Seco del Río Seco SA del Río Seco
Luz del Cerro SA- Línea 132 kV Olavarría - PS Helios Río Helios Río
PE Los Teros - ALT 72.2 5/16/2019 1.5 CH 25 de Mayo 132 kV 8/13/2020
YPF Tandil Diamante PV VI Diamante PV VI SA

32 Cámara Argentina de Energías Renovables Annual Report 2018 33

Austral Gold
PS Casposo 7 Calingasta Nueva 8/4/2019
Argentina SA
PS Tocota Solar I - A Isla Power 6 Bauchazeta 1/6/2020
1. on the past year; benefits requested, even if the term set to construct
PS Tocota Solar I - B Isla Power 4 Bauchazeta 8/30/2019
and start commercial operations has not expired yet.
2. 10% tolerance which can be compensated
PS Anchipurac 3 La Bebida 8/13/2020 Big projects might be able to overcome this situation
Provincial SE on the following year;
and eventually make progress on account of fiscal
PS Ullum Solargen II Solargen Ullum SA 6.5 Solar Ullum 8/13/2020 3. subjected to penalty, based on the benefits. However, smaller projects whose financing
PE Vientos Vientos Línea 132 kV Chocón - percentage of renewable energy that was not certain at the time of requesting priority and
79.2 8/18/2019
Neuquinos I Neuquinos SA Piedra del Águila should have been used, charged as if they that will probably face delays in their financial close
Luz del Cerro SA - Línea 132 kV Olavarría - were generating electricity with diesel fuel stage and the beginning of the construction state
PE Los Teros 50.35 7/30/2019
YPF Luz Tandil (that is to say, the most expensive form of
Autotrol generation; equivalent cost of diesel fuel –
PE Wayra I 49.4 Bahía Blanca 132 kV 9/12/2019
Renovables SA CGOEQ- 2017: about 100 USD/Mwh);
Vientos Punta Línea 132 kV Vivoratá 4. before the fee is imposed, the GUs shall
PE Santa Teresita 12.6 12/5/2019
Alta SA (Mar del Plata) - Quequén
present their complaint.
Vientos Punta Línea 132 kV Vivoratá
PE Santa Teresita - A 37.4 2/13/2020 With the aim of regulating the problems regarding
Alta SA (Mar del Plata) - Quequén
the availability to access the transmission system,
Total Assigned 1,080.5
a priority of access regime was created in case two
renewable energy projects are competing for the
only access point (otherwise, renewable energy
projects already have priority according to section

Apart from the GUHs, the GUs who are part of the
Power Plant Number of GUH MEM will be able to enter into private PPAs even
if they didn’t choose to leave the joint purchase
PE Manantiales Behr 96 Different demands from YPF mechanism. The GUHs will only get the previously
PE Rawson III – Genneia 12 Different demands from Loma Negra and OroPlata SA detailed incentives if they decided to obtain ener-
Total 108 gy through the MATER Program, while staying out
of the joint purchase regime.

Benefits and incentives maximum requirement of capacity, based on the Implementation and regulations,
capacity of the renewable energy and the time aspects to examine
This regime is an encouragement to stop using the
when they made their choice (100% up to 2018, There are some situations related to the MATER
joint purchase mechanism so that, those who de-
25% in 2020; this discount will remain unchanged Program that create uncertainty and that should be
cide to do so, develop a project of renewable en-
based on to the time when they decided to leave solved by the authorities as soon as possible. An ex-
ergy (or to contract a renewable project through
the joint purchase mechanism and as long as they ample is that PPAs entered into through the MATER
the MATER Program) which will be exempted from
stay out of it). Program must deal with the variable transmission
paying commercialization and administration fees.
This energy produced from renewable sources will Those GUs who decide to leave the joint purchase costs and it is not clear how these costs are going
not have to pay for extra energy fees and will be mechanism will be fiscalized to verify if they are to change in the future. Furthermore, many of those
able to get a discount in the fees related to the complying with the minimum legal requirements: projects which obtained dispatch priority based on
the explained regime didn’t have access to the fiscal

34 Cámara Argentina de Energías Renovables Annual Report 2018 35

order to do so, GUHs have to make the decision of

Up until July, 2018, exiting the joint purchase mechanism. This option
gives them benefits, like the exemption of admin-
44 wind and solar istration and commercialization fees charged by
parks had dispatch CAMMESA and a discount, that will decrease in time,

priority, but only two on the fee applied to the reserve of firm capacity.

of them had entered The GUHs allowed to use the MATER Program are
the ones who demanded an annual amount of 31.4
into contracts. TWh in 2017. Therefore, in order to achieve the goals
of the Act 27191, in 2025 they will need a minimum of
6.3 TWh coming from renewable sources.

The 42 GUHs which informed their exit from the joint

might not be able to overcome this. If we take it to
purchase mechanism up to July 2018 only account
the extreme, if this issue is not taken care of, some
for the 18% of the total demand of electrical energy
projects may not be carried out due to the lack of
of all the GUHs. 31 GUHs informed CAMMESA that
finance in Argentina.
they have entered into contracts with generators.

As regards projects that can offer their energy to

the MATER Program and that already have priority
of dispatch, 44 wind and solar parks will generate
about 3.8 TWh a year. However, up until now only
The MATER Program is the alternative for the GUHs two projects reported CAMMESA to have signed the
who want to enter into private contracts for the sup- contracts. Therefore, until July 2018, there were at
ply of energy generated from renewable sources. In least 3.0 TWh who hadn´t signed yet.

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Its long-standing history has enabled it to develop excellence in human and technical resources, which complements
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Since 2003, the company has adopted an Integrated Multi-Site Management System, a requirement for ISO 9001,
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R. Panamericana (ramal Pilar) Km. 53.5, 700 Lavaca STE 1401
Ed. Polo 1 Of. 321/322 Pilar, Prov. De Buenos Aires Austin, TX 78701
Tel: +54 (2322) 37 4066/67 Tel: +1 (469) 844 3348
Annual Report 2018 37
Wind Energy:
status and next
Out of all the technologies used to generate renewable energy, wind energy
is the one which has prevailed in the joint purchases and the MATER
Program. In order to keep growing and to provide investors with more
certainty, some adjustments must be made.

ind energy is the technology type which tion of the market and the resources made avail-
showed more participation since the start of able by the regulatory bodies, to increase the use
the renewable energy market in Argentina. This can of renewable energies and achieve the goals of the
be confirmed when we look at the projects award- Act 27191.
ed by CAMMESA through the joint purchase mech- This Act, passed by common consent in 2015, set the
anism, the RenovAr Program and the Resolution percentage of renewable energy that users of elec-
202/2016, as well as the dispatch priorities estab- trical energy must consume up to 2025. The goals
lished in the Renewable Energy Term Market (MA- and the estimate amount of renewable energy that
TER) as of February, 2018. should be used to achieve such goals are shown in
We are expecting this technology to be, at least in table 8.
the short and medium term, the largest supplier of In 2017, only 2% of the energy consumed in the MEM
installed MW and generated MWh from renewable was from renewable sources, and out of this 2%,
sources, not only because of its competitive cost only 23% was wind-generated energy. However, the
but also because there is a great amount of this CC and the MATER Program have given dispatch pri-
resource in a big part of the country. However, its ority since 2016 to 195 projects, which represents a
development will go hand in hand with the evolu- total installed capacity of 6,046 MW.

38 Cámara Argentina de Energías Renovables Annual Report 2018 39

Due to Rounds 1, 1.5 and 2 of the
RenovAr Program and the Resolution 60 of those are wind projects and account for an in- If we want to consume the amount of renewable n order to calculate the percentage corresponding to
202/2016 the highest level of stalled capacity of 3,738 MW. energy required by the Act 27191 by the year 2025, the use of national components in a wind turbine,
commitment in the development we need to award 2,600 MW more than what has a weighting was given to each part, piece, system
of renewable energy projects has If all the projects awarded by the CC and the MA-
already been awarded. Wind energy projects should and/or production process of wind turbines, as can
been obtained. Out of the awarded TER Program had been carried out, there would be
4,966 MW, 2,911 MW correspond contribute with an extra 1,600 MW. be seen in table 9.
an annual generation of about 22 TWh, enough to
to 41 wind energy projects. In
achieve the goals set by Act 27191 up to 2020. Wind Apart from the mentioned benefit, the percentage
September of 2018, about 30% of these
energy would provide 70% of that amount, about 15 of CND was also used to choose a winner if there
projects were under construction
and a 100 MW power plant, the TWh a year. Challenges for future projects was a tie in Round 1 of the RenovAr Program Ten-
Parque Eólico Corti Wind Park, is der. Since the difference in offered prices was really
If we look at the projects awarded through CC and
already in commercial operation.
the MATER Program, we will realize that wind ener- small, the CND ended up being an essential variable
gy prevails among the rest. However, if we want this to determine the winning project.
type of technology to have a stronger representa- Since the percentage of CND has caught investors’
THROUGH THE (Detailed according to the contracting mechanism)
tion in the energy matrix and to take advantage of attention, important manufacturers like Vestas,
how competitive it is, we need to solve certain issues Nordex-Acciona and Enercon, have started to offer
Out of the 19 wind projects that in the short term to provide investors with more cer-
4,500 equipment with the percentage of components re-
received priority of dispatch through
4,000 tainty. We are going to mention some of the aspects quired for it to be considered national.
the MATER Program, 9 correspond 3.7 GW contracted under 445
to the expansion of wind parks 3,500
the new legal framework
that need to be developed or improved to make the
3,000 827 However, the problem with the increase of the per-
which were previously awarded (Act 27191) development of new projects easier.
2,500 centage of national components is that technolo-
through the CC mechanisms. On the
other hand, there are two parks in 2,000 gists won’t be able to offer financing from the Export
an advanced state of development, 1,500 Increasing the Use of National Components Credit Agencies (ECA) belonging to their country of
which belong to two important origin. This means we would not have access to this
500 The Decree 814/2017 issued by the Argentine Execu-
consumers of the MEM: YPF (PE very important option. Secondly, due to the possi-
0 227 tive Power determined a 14% aliquot corresponding
Manatiales Behr) and Aluar (PE
to the import fee of the wind turbines with a capacity ble restrictions in the production capacity and the









Aluar). Lastly, there’s a park which
is already selling its energy through higher than 700 kW. However, the joint Resolution 01- time needed so that production complies with the
the MATER Program: Genneia’s GENREN and Res. 108 RenovAr
E/2017 passed by the MEyM and the Ministry of Pro- required standards, national equipment might take
Parque Eólico Rawson III Wind Park. Mater Other
duction states the minimum percentage of national longer to be delivered than imported equipment.
Source: EOS Energía, based on official data.
components that wind turbines must have in their Therefore, one of the challenges the sector will have
production chain in order to be considered “national”. to face in the following years would be to find tech-
If wind turbines reach this percentage, the investor or nologists who offer equipment made with more
TABLE 8. GOALS OF ACT 27191 AND ESTIMATED ENERGY REQUIRED TO COMPLY WITH IT* technologist can be exempted from paying fees when national components and competitive in terms of
it comes to the components showed in the Appendix I costs, volume and delivery periods. On the other
Year Estimated annual Goal Act 27191 Renewable energy required (TWh) of the Decree 814 and receive a fiscal certificate if 20% hand, the Argentine Government will have to pro-
demand (TWh) of the components of the electromechanical installa- mote financing sources to make national equipment
2018 135.0 8% 10.8 tions are national, including wind turbines. more competitive compared to the ones financed by
2019 137.7 12% 16.5 The percentage of the declared national component the ECAs of their country of origin.
2021 143.3 16% 22.9 (CND) increases as follows:
2023 149.1 18% 26.8 Access to the transmission capacity
2025 155.1 20% 31.0 35% up to June 20, 2020
Once dispatch priority for 6,046 MW was assigned
*Calculations based on the base demand of 2017 and an estimate annual rate of growth of 2%. 45% up to December 31, 2021 through CC and the MATER Program, the trans-
Source: Self-made table based on information provided by CAMMESA. 50% up to December 31, 2023 mission capacity indicated by CAMMESA has been

40 Cámara Argentina de Energías Renovables Annual Report 2018 41


LOGISTICAL MEETING Parts, pieces, systems, Weighting

subsystems and processes (%)
of a wind turbine
Blades 19.5
Towers and its inside 23.0

2S 2017 10% Connection components 2.5

of the tower
Pitch System 3.5
1S 2018 23% IDENTIFIED Hub machining process 2.5
Blade bearing 2.0
2S 2018 51% • Large-sized cranes
and extendable Hub assembly process 3.0
trucks are needed for Nacelle castings 3.0
1S 2019 16% the transportation
Case, columns, 2.0
of wind equipment.
nacelle frames
• High transportation Nacelle assembly 10.0
AMOUNT OF WINDTURBINES PER PORT (August 2018 onwards) costs.
Yaw System 2.5

Bahía 86 Power converter 3.0

Blanca 163 35% WORK IN PROCESS
Generator 5.5
• Meetings to
Puerto 53 increase the offer of Gearbox 11.0
Madryn 158 25% extendable trucks Drive Shaft 3.5
in the market.
Comodoro 56 Radiator 1.0
Rivadavia 40 58% Switchgear 1.0
9 Transformer 1.5
57 14% • Improvement of
Customs’ processes. Total Wind Turbine 100

Total 204 Source: Joint Resolution 01-E/2017 of the MEyM and the Ministry of
overall 418 33% • Resolution of points
in which trucks

interfere in roads.
Wind Turbines Entered Wind Turbines to be Entered

• Improvement reduced. The report presented in August of 20181,

in highway
shows big restrictions in the areas with more wind Out of the 41 wind
resources, like Patagonia, Province of Buenos Aires
and Comahue.
projects awarded, in
• Intervention of the September of 2018 a
However, the Ministry of Treasury has presented a
National Agency
Source: Investment Agency (INVEST) of Road Safety. plan to expand the transmission capacity under the third of them was under
1 CAMMESA, Informe Renovables, August 2018, Buenos Aires construction and one is
(available in
compartidos/Noticias/Mater/Informe%20Renovables%20AGO%20 in commercial operation.

42 Cámara Argentina de Energías Renovables Annual Report 2018 43

Monthly and cumulative values up to June of 2020, based on commitments made

450 3738 MW
3,738 MW 4,000

400 3,500

Cumulative installed capacity in MW

Start-up per month in MW


50 500

0 0





























Stipulated COD

Round 1 Round 1.5 Round 2 Resolution 202/2016 MATER

Source: EOS Energía, based on data provided by CAMMESA.

scheme PPP (Public-Private Partnership). The aim of time there is an increase of renewable energies
this plan is to build over 3,000 km of extra high volt- in the Argentine energy matrix, it is necessary to Source: Ministry of Treasury

age lines (500 kV) in about three years (see Appen- make a decision as regards including energy stor-
dix). The call to present offers will be carried out in age systems.
three stages, between the third quarter of 2018 and
These technologies will optimize the use of the
the first of 2019. Some of the construction works that
transmission capacity and will be essential to ensure
will be carried out and that will allow the expansion of
that quality parameters of voltage and frequency are
the dispatch capacity for new wind projects are: LAT
being met. It will be extremely necessary to comply
Río Diamante – Charlone; LAT Vivoratá – Plomer; LAT
with these parameters when flow energies, such as
Charlone – Plomer; LAT La Rioja Sur – San Juan; LAT
wind and photovoltaic solar energy, have a stronger
Choele Choel – Puerto Madryn; ET 132/500 Como-
representation in the Argentine energy matrix. The
doro Rivadavia Oeste, among others (Graph 1).
current options are pumping systems, generation
On the other hand, since restrictions on the trans- technologies, hydrogen use technologies and sys-
mission capacity will result in a bottleneck every tems with electrochemical batteries.

44 Cámara Argentina de Energías Renovables Annual Report 2018 45

Photovoltaic Solar Energy:
with falling prices and
the focus set on
small-scale projects
Between Rounds 1 and 2 of the RenovAr Program, this technology type
presented a big reduction in prices and added international participants.
Now, it is showing interest in the next MiniRen Tender.

T oday, there is no doubt that renewable ener- ers of photovoltaic solar energy projects worldwide,
gies are highly competitive. Over the years, who are constantly looking for new markets to de-
prices related to this technology type have dropped velop their projects. The prices offered in the last
to the point of what we know as “grid parity”. Con- tenders, which set 2020 as the delivery period for
sequently, renewable energy is becoming an even connection, show that this tendency towards low
more competitive way to meet the global energy prices will remain in the following years. According
demand. to IRENA (International Renewable Energy Agency),
the low prices offered in tenders in Mexico, Dubai,
This phenomenon, which has occurred in all the
Peru, Chile, Abu Dhabi and Saudi Arabia in 2016 and
technologies using renewable sources, has been ex-
2017 confirm that the LCOF of the photovoltaic solar
traordinary in the case of photovoltaic solar energy.
energy will keep decreasing and might drop up to
Since 2010, the LCOE (Levelised Cost of Energy) of
0.03 USD/kWh.
the photovoltaic solar energy has dropped a 73%
and resulted in 0.10 USD/kWh for projects which Since Argentina must take advantage of its so-
started its commercial operation in 2017. This cost lar potential and of this opportunity that pres-
reduction is due to the huge technological advances ents itself globally. As can be seen in the following
and the know-how increase of important develop- maps, the area with most potential is located in the

46 Cámara Argentina de Energías Renovables Annual Report 2018 47


Province Projects Capacity Capacity

Salta 9 829 34%
San Juan 14 558 29%
Jujuy 4 400 25%
La Rioja 7 318 29%
Catamarca 9 315 30%
San Luis 4 197 27%
Mendoza 8 124 27%
Córdoba 1 30 24%
Chaco 1 10 25%

Source: MEyM

of the 1,142 MW, were assigned to photovoltaic solar In October of 2017, Round 2 of the RenovAr Program
energy projects: 300 MW were awarded to JEMSE was held. The tender was for 1,200 MW, out of which
(Jujuy Energía y Minería Sociedad del Estado) and 450 MW were assigned to photovoltaic solar energy
100 MW to FieldFare Renewables, projects located projects. This time, a strong interest was shown in
© 2017 World Bank. Solar data: Solargis. © 2017 World Bank. Solar data: Solargis. in the provinces of Jujuy and Salta, respectively. this type of technology. Offers reached 5,279 MW,
that is, ten times more than the amount required by
In November 2016, a new tender, Round 1.5 of the
the tender. The tender was regionalized again. Both,
RenovAr Program, was held in order to include those
Northwest of the country, known as the NOA Re- mented. Up until then, it represented a small per- the NOA and the Cuyo regions received a quota of
projects which participated but didn’t make through
gion, which includes the following provinces: Jujuy, centage in the energy matrix, only 8 MW installed 200 MW each (the maximum that could be award-
Salta, La Rioja and Catamarca. The Global Horizon- Round 1. Even though only 200 MW were destined
in the country. ed to the two regions in total was 350 MW) and 100
tal Irradiance (GHI) can rise up to 2,400-2,700 KW/ for photovoltaic solar technology projects, the Gov-
MW was allocated to the rest of the country.
m2. At the same time, the Province of San Juan, ernment received an offer for 28 solar projects, a total
which belongs to the Cuyo Region, has high values of 925 MW. In this tender, quotas based on regions In Round 2, 707 MW were awarded to photovolta-
of irradiance, similar to the NOA Region, mainly in Participation in the were assigned to distribute projects among areas ic solar projects and they were divided into seven
the foothills. RenovAr Program with less resources but still viable: 100 MW to the provinces: Catamarca, La Rioja, Salta, San Juan, Men-
NOA Region and 100 MW to the rest of the country, doza, Córdoba and Santiago del Estero. This time,
Apart from those extraordinary values, the Central Tenders carried out through the RenovAr Program
which included the other regions (Central, Cuyo, NEA, projects were awarded to international players, like
and the Northeast areas of the country have a GHI of were a considerable incentive to develop photo-
GBA, etc.) In the end, 20 photovoltaic solar projects NEOEN, Martifer Solar and Neuss Fund and to na-
about 1,900 kWh/m2, which is quite good if we com- voltaic solar energy projects in the country. In each
round, quotas were assigned to each technology were awarded in Round 1.5, a total of 516.2 MW. tional players as well, such as 360 Energy and EPEC
pare it to the European countries with the highest
type participating in the tender. (Empresa Provincial de Energía de Córdoba).
installed photovoltaic solar capacity, such as Spain To sum up, if we consider both tenders, 24 photovol-
and Germany. The tender in Round 1 was for 900 MW and 300 MW taic solar projects were awarded comprising a total In 2018, a new tender is going to be held (MiniRen)
Even though Argentina has great potential, there were destined to photovoltaic solar energy projects. of 916 MW, distributed among several provinces: Ju- and it will cover projects of a lower-scale (up to 10
were no signs of photovoltaic solar development However, the Government received 58 offers, com- juy, Salta, San Juan, Mendoza, San Luis, La Rioja and MW). Bid documents will be presented in October,
until 2016 when the RenovAr Program was imple- prising a total of 2,811 MW. In Round 1, 400 MW out Catamarca. The regionalization goal was achieved. after this report is issued. This is going to be the first

48 Cámara Argentina de Energías Renovables Annual Report 2018 49


SOLAR 12% 33% 43% 12%

WIND 13% 27% 45% 15%

PAH 19% 46% 28% 7%

BRS 7% 40% 10% 43%

BIOMASS 12% 59% 20% 9%

BIOGAS 12% 58% 9% 21%

Administration Operation Maintenance Other

Source: self-made graph based on the data from Round 2, RenovAr Program.

country made people believe that there would to be The PERMER Program
better financing options.
Since 2000, Argentina has had a specific program
Even though this is hard to know, it is expected that that makes it easier for populations isolated from the
in the next MiniRen, prices will not decrease and they power distribution grid to access electrical energy.
might even experience a slight increase. This is be- Through the PERMER (Program of Renewable Ener-
cause of the way in which the tender was designed: gy in Rural Markets), isolated populations can have
time that the photovoltaic solar energy and the wind Prices in Terms of
the size of the projects (a smaller scale implies a access to clean energy, thus preventing social exclu-
energy compete against each other without the ex- Technology in Argentina
higher price, resulting from not making use of its sion. The Program offers subsidies to purchase and
istence of quotas based on technology type. This
If we pay attention to the tenders, it is easy to see full potential) and the costs of getting finance in the install individual wind and photovoltaic energy sys-
tender is extremely appealing for the photovoltaic
that the prices offered by the photovoltaic solar country, which got more expensive. However, recent tems (to supply electrical energy), solar systems (for
solar sector since this technology works better in
technology dropped significantly. If in Round 1 changes in the sector worldwide and the significant thermal purposes) and other photovoltaic systems
smaller projects. On the other hand, each province
the tender was for about 60 USD/MWh (bid doc- drop in the prices of photovoltaic solar panels, EPC with a higher capacity (for production purposes).
has a quota of 20 MW, which can be generated from uments set a maximum of 90 USD/MWh) and the and EPCM (Engineering, Procurement, Construction The PERMER Program has the support of the World
any type of technology. The photovoltaic solar en- offers received were for about 80-90 USD/ MWh, Management) might revert the situation. Bank. It’s being financed with a loan from the IBRD
ergy might be more suitable in some provinces lo- in Round 1.5 there was a considerable price re-
cated in the northwest, center and northeast of the Currently, out of all the projects awarded, the only (International Bank for Reconstruction and Devel-
duction, since prices ranged from 48 to 56.7 USD/
country. ones which managed to start commercial opera- opment) and contributions from the Argentine Gov-
MWh. Besides, if we consider both rounds, there
tion until September 2018 were the following solar ernment and the provinces involved. Several prov-
was a decrease of about 30% in the prices of the
parks: Caldenes del Oeste, (installed capacity: 24.75 inces have become part of the program and have
participating projects.
MW), La Cumbre (installed capacity: 22 MW), both installed systems to supply energy to those with
In Round 2, prices dropped dramatically again in located in the Province of San Luis, and Las Lomi- no access to the distribution grid. They achieve this
Installed terms of technology. Prices of projects awarded tas (installed capacity: 1.7 MW) located in Albardón, mainly through the use of photovoltaic solar and
Capacity ranged from 40.4 to 52.3 USD/MWh and the ones Province of San Juan. thermal systems, which are more suitable in this cir-
Region Projects Offered (MW) with prices of about 52 USD/MWh were located in cumstances due to its characteristics. Since the Pro-
NOA 45 2,782 the region called “Rest of the Country”, which has gram has been launched, mostly photovoltaic solar
NEA 2 47 lower values of irradiance. We might think that this systems have been installed in rural schools, public
price reduction was due to the fact that developers services and households in all the provinces of the
Centro-Cuyo 50 2,450
had a better knowledge on the costs related to tech- country, especially in Salta, Chaco, Jujuy, Tucumán,
Total 97 5,279
nology and that the macroeconomic situation of the Corrientes and Neuquén.

50 Cámara Argentina de Energías Renovables Annual Report 2018 51

Global Solar Council: the
role of Argentina in a
worldwide sectorial debate
Since CADER is a founding member of the GSC (Global Solar Council), it can
decide on the schedule and the priorities of the organization, whose aim
is to assure that the commercial battles between regions do not affect the
positioning of the photovoltaic energy.

T he GSC was officially founded in the Paris Sum- a shift in the paradigm, which goes beyond techno-
mit, held in December of 2015, after many years logical aspects.
of conversations between associations of leading Through the years, the GSC has formed alliances with
and emerging countries. They thought it was essen- the International Renewable Energy Agency (IRENA),
tial for the sector of the photovoltaic energy to have the Renewable Energy Policy Network for the 21st
a unified voice before the multilateral institutions Century (REN21), the International Solar Alliance, the
who have control over the strategic decisions re- International Energy Agency (IEA) and the Clean En-
garding sustainable development and its financing. ergy Ministerial (CEM). Together, they have strength-
Based on the successful experience of the Glob- ened their international positioning and managed to
al Wind Energy Council (GWEC) in the wind sector, cause a greater impact on policies, a lot more than
GSC’s aim was, and still is, to assure that the com- what they would have achieved individually.
mercial battles between regions (Asia, Europe and CADER, which is highly committed to the achieve-
the Americas) do not affect the global positioning of ment of these goals, has participated on the GSC
the photovoltaic solar energy, which is the founda- since it started and is a founding member of the
tion for the diversification of the global electrical and board of directors. Marcelo Álvarez has been reelect-
energy matrix. The proposal’s objective was to cause ed by common consent as a board member for two

52 Cámara Argentina de Energías Renovables Annual Report 2018 53

more years. This allows him to decide on the sched- national USA. The seminar covered the regulatory
ule and to determine the priorities of the institution. frameworks for utility-scale plants and the distrib-
uted generation. The analysis was focused on mod-
In order to influence the global policies of the sector
and to improve the financing of the initiatives, the els that explain how to stimulate the industry, the

GSC’s strategy is to write papers with market defi- remuneration of the injection, how to optimize the
nitions, in relation to the coming convention, the use of available surfaces in urban areas and the role
United Nations Framework Convention on Climate of distributors. The idea was to write the experiences
Change (UNFCCC) in order to analyze them in the in the virtual forum of the Ibero-American network
Conference of the Parties (COP 26). It is expected that, of associations, in their web page, to increase local
in this Conference, specific goals against the emission knowledge in the region and save time and money.
of greenhouse gasses are established. Furthermore, In 2019, the three meetings of the GSC’s board of
it is going to be determined how to finance those ac- directors will be held in Brussels, Shanghai and Salt
tors who are involved in protecting the environment.
Lake City (in the Solar Power International). In these
An internal seminar was carried out with national meetings, the aim is to agree on global political ac-
associations in the GSC’s annual assembly, which tions and develop advocacy strategies against the
was held simultaneously to the Solar Power Inter- multilateral alliances and national governments.

54 Cámara Argentina de Energías Renovables Annual Report 2018 55

specific requirements and
positive externalities
These sources, which add value to their places of origin and turn waste into
resources, have a lot to offer to Argentina, a country in which agroindustry
plays a very important role. A summary with the situation of biogas,
biomass, ethanol and biodiesel is presented below.

T he bioenergy sector in Argentina keeps show- in Round 1 while in Round 2, 32 and 16 were awarded
ing positive results. More and more projects respectively (without counting that 3 landfill biogas
are being developed or carried out and the sector projects were awarded).
is maturing. The synergies provided knowledge and
Out of all the projects awarded, 6 are already in com-
experience and the technological structures of in-
mercial operation. 4 of them are biogas projects: Río
ternational quality have been strengthened. This is
Cuarto I (2.00 MW) and Río Cuarto II (1.20 MW), both
due to the fact that our engineering resources and
located in the Province of Córdoba; Yanquetruz (1.20
equipment meet the standards of the best and most
demanding markets in the world. MW), Province of San Luis and San Pedro Verde (1.42
MW), Province of Santa Fe. The other two are bio-
The number of projects of biogas and dry biomass
mass projects: Pindó Eco-Energía (2.00 MW), Prov-
(it naturally contains a moisture content lower than
ince of Misiones and Prodeman (9 MW), Province of
60%, like wood, agricultural  crops wastes, among
others) increased significantly between Round 1 and
2 of the RenovAr Program. This means that the sec- CADER considers that the interest of companies
tor is interested in investing in this type of technol- related to biogas and dry biomass is growing since
ogy: 6 biogas and 2 biomass projects were awarded they are coming up with ideas and proposals that

56 Cámara Argentina de Energías Renovables Annual Report 2018 57

LOCATION OF BIOENERGY PROJECTS AWARDED IN ROUNDS 1, 1.5 In Argentina, the experience and knowledge acquired Since projects were awarded, businesspeople and
AND 2 OF THE RENOVAR PROGRAM after the execution of new projects allow different developers have felt uncertain about some aspects.
SMEs, working in the areas of metal mechanics, con- This means that PPAs might not be entered into due
Biogas Projects Biomass Projects Landfill Biogas Projects struction and processes, to identify development to a lack of financing.
37 projects – 64.9 MW 18 projects – 157.7 MW 3 projects – 13.1 MW
opportunities and become specialized suppliers. If Among other initiatives, CADER is formulating pro-
some equipment and components are produced in posals to get more quotas for the biogas technology
the country, the national industry might be able to in the energy sector, to take advantage of its thermal
complement itself with or compete against the in- capacity, to use it as a main fuel and to design finan-
ternational industry. cial strategies for the last two cases mentioned.
The project development as well as its technical and Currently, banks do not accept PPAs as a guarantee
financial execution will evince the successful aspects for project finance. They also need requirements like
of the program but they will also show the aspects personal and financial guarantees, or other instru-
that might need to be improved in future programs. ments. Even though some agricultural or agro-in-


Source: MEyM

will contribute to the development of the sector in Renewable Energy1, biogas and biomass projects

Argentina. The sector turns wastes into energy re- awarded by the RenovAr Program have created 497

sources to generate primary firm and distributed new job positions in the construction stage and 45 in

energy; to create investment opportunities in the the operation and maintenance stage up to August

regions; to add value to the place of origin of the of 2018. These numbers will turn into 2,305 and 738

sources; to promote circular economies and to cre- respectively, once all the projects are in process. t io PURIFICATION

ate new businesses in the productive sector.

l fo r t ra n s p
It is hard to count the co-benefits and the external-
ities produced by bioenergy projects, but the public

Biogas Technology

sector and CADER are working on it in order to show

The biogas sector has proven to generate added

the multiple benefits obtained though the develop-

value in communities and regions where projects LIQUEFACTION
ment of the sector. For example, biomass projects, CNG/bio-NVG
are carried out, not only locally but also worldwide. Compressed Natural Gas
and especially biogas projects, are the ones which
It also contributes significantly to the environment LNG/bio-LNG

create more job positions based on installed capac- Liquefied Natural Gas

through the reduction of CO2 emissions and the sup-

ity. There are two stages: the construction stage Nitrogen
ply of biofertilizers which result from the biodiges-


(which lasts three years and whose areas with more Hydrogen

tion process. T
job positions in demand are mounting, electro- D

mechanics and civil work) and the operation stage P

(which lasts for about two decades and requires 1. Generación de Empleo. Energías Renovables. RenovAr and MATER
Programs. August of 2018. Undersecretariat of Renewable Energy BIOMETHA

workers for the operation and maintenance areas). (available in

According to a report from the Undersecretariat of pleorenovable.pdf).

58 Cámara Argentina de Energías Renovables Annual Report 2018 59

dustrial producers who are interested have a large press its needs to decision-makers so that incen- ects not only related to the energy generation, but price round, since it offered a higher price than the
number of personal assets that can be used as a tive mechanisms are implemented to promote the also to the thermal power and fuel generation. maximum set. The other 16 projects were awarded,
guarantee, for some investors these requirements development of new biogas projects. The diversity 14 in Phase 1 (117.22 MW) and the other two (26 MW)
are hard to meet. of situations and sectors makes it hard to define in Phase 2. The total installed capacity awarded be-
those mechanisms, which are highly important to tween the two phases was 143.22 MW.
The bank sector acquired more knowledge on finan-
cial engineering. They have learnt to analyze biogas
strengthen the sector. Dry Biomass By September of 2018, the contracts of 10 projects
and biomass projects, which have unique and spe- Another important challenge is to achieve synergy There was an increase in the number of dry biomass had been entered into and 2 of them are in commer-
cial features. This knowledge gain will allow them between different organisms and the public-private projects in the Round 2 of the RenovAr Programa, cial operation or about to deliver energy. As regards
to differentiate projects which are well structured dynamic in order to decide on actions that improve since positive modifications were made to the con- the other 6 projects, some have problems to define
to those which are not. This will probably mean that the development of the sector, appreciating the ditions stated on the bid documents of Round 1. This financing, but they are on the right path to solve
better proposals will get better access to financing. positive impacts of biogas in the environment. is evidenced by the number of offers made: 5 offers them.
As regards the SPE (Special Purpose Corporation), it As the sector evolves, we are faced with more so- for 44.5 MW were presented in Round 1 and 20 were
However, as it was previously indicated, these proj-
would be necessary to adapt its concept in order to phisticated demands which require new abilities. Our presented for 187 MW in Round 2.
ects are more complex than the ones related to other
improve the use of waste resources or the resources contribution to developers has changed from pro- The current situation of dry biomass projects is var- technologies, since different variables are involved,
produced by those companies making up the SPE. moting the sector to focusing on more operational ied. Only 3 of the 20 projects presented did not meet obtaining biomass being the main one. This is why
The challenge is to make these changes without aspects, like quality services and safety regulations the technical requirements for different reasons. Re- the project finance for this sector has not been com-
turning this adaptation into a fiscal or economic ob- to have a risk-free sector. garding the rest, only 1 did not make it through the pletely developed yet. However, if more projects are
stacle to develop and finance the project.
At the time we were finishing writing this text, au-
The requirements imposed to the SPEs which re- thorities announced the date for Round 3 of the
ceive fiscal incentives, apart from the main activities RenovAr Program, known as MiniRen. We are wait-
of the SMEs, caused that less offers were presented
in the past tenders. Agro-industrial businesspeo-
ing on the bid documents of this tender, which will
be held in October of 2018. For this new call, the fol-
Double membrane gasholder | Emission protection foils
Foil gas accumulators | Single membrane covers
ple constantly request that the biomass and biogas lowing is being considered: to eliminate the concept
sector receive a special treatment. Participants of of SPE; to allow more simplicity in the presentation
these sectors have a background in agricultural and
Leakage detection systems
of offers and to eliminate determining aspects which
agro-industrial SMEs and are not experienced in the were not necessary for this specific sector. On the
commercial sector of large-scale energy projects. other hand, it was announced that the inflationary
Therefore, they have a different view on the energy adjustments and incentives expected in Round 2
business and its correlation with their main produc- have been eliminated, which means that it might be
tive activity. possible to obtain a lower price for each MWh. This
Another pending issue, which is important to the translates in lower profitability, which might result in
sector, is the special treatment given to the import- affecting the development of new biogas projects in
ed components necessary to build biogas power the country.
plants. Since energy is generated from wastes and To sum up, certain aspects show the advances of the Baur Folien GmbH  +49 83 34 99 99 1-0
effluents, biogas not only makes an important con- biomass and biogas sector in Argentina. However, Gewerbestraße 6  +49 83 34 99 99 1-99
tribution to the balance of trade during the project other aspects evince the need for special consider- D-87787 Wolfertschwenden 
cycle, but also helps to mitigate CO2 emissions, mak- ations and to receive more incentives, not only from Germany d
ing it easier to achieve the goals set by the country the State but also from the provinces and distrib-
on climate change. utors. In this way, we can guarantee the successful
On the other hand, there is a challenge when it execution of a large number of projects awarded in
comes to communication. The sector has to ex- the RenovAr Program rounds and other new proj-

60 Cámara Argentina de Energías Renovables Annual Report 2018 61

developed this will definitely be the right type of fi- veloping local and regional economies (especial- Argentina exports almost 70% of the corn it pro-
nance method for them. ly when it comes to using biomass as a fuel). Even duces, in the form of unprocessed corn. Having the

Most biomass projects are developed based on the

more interest has been shown in making other local Biofuels add value to chance to produce bioethanol at a commercial scale
investments, for example, to produce more biomass increases the offer of liquid fuels in the country and
waste obtained from the owner’s productive pro-
through forestations or other ways. Besides, bio- the agro-industrial improves the development of regional economies,
cesses, that is to say that investors are also the own-
ers of the raw material, since they own the process
mass projects require more local components that chain. with its resulting investments and new job positions.
can rise up to a 70%. That is to say, all the civil work It also contributes to the sustainability of the pro-
which originated it.
plus the 70% of the electromechanical components ductive system, since it takes corn to regions which
This situation makes a lot of sense, since investors can be purchased in the country, bringing benefits are far from the ports.
take advantage and add value to wastes that oth- to the local industry.
erwise would be a sub product for which there is no Bioethanol
In order to achieve all of this, the dry biomass sec-
market. The global generation of bioethanol set a new record
tor (and the rest of the renewable sources) must be
Based on the results of Round 2, investors who did- considered essential in the future. We have to keep in 2017 with a production of 102.4 million cubic me- Biodiesel
n´t have much knowledge on the market of biomass developing the market and stick to the conditions ters. Most of it was produced from corn in the United
The production capacity of the biodiesel industry
projects are interested in participating and invest- established in Round 2. Furthermore, we have to im- States and from sugar cane in Brazil. Both countries
reached, according to official data, 4.5 million tons
ing in these businesses that bring local and financial prove the production, logistics and supply markets make up for the 85% of the global production. The
a year, due to the large investments made after the
benefits, such as: producing firm capacity, creating and the financing methods, which are extremely im- European Union takes third place. Argentina is the
Act 26093 was passed and came into force. The Act
job positions through the project life cycle and de- portant to the successful execution of projects. seventh largest producer, accounting for 1.1% of the
has regulated the promotion and use of biofuels for
total. 83% of this production is used as fuel.
the past ten years.
In Argentina, the Act 26093/2006 (Regime to reg-
Legally speaking, according to section 7 of that act
ulate and promote the sustainable use of biofuels)
and its complementary regulations, gas oil has to be
and the Decree 109/2007 state that liquid fuels have
diluted with a 10% of biodiesel in the internal mar-
COMPONENTS to be diluted with biofuels for the next 15 years, and
provided the legal framework for the development
ket. However, oil companies do not always comply
with the act completely.


of the sector.
About 30 companies, mostly SMEs, supply the bio-
In 2016, the Decree 543 increased the mandatory
diesel demand to the hydrocarbon refining compa-
AGITATORS, PUMP SOLUTIONS, SEPARATORS amount of bioethanol that should be present in pet-
rol to a 12% (E12) and promoted an equivalent of-
nies in order to comply with the mandatory dilution.
The rest is supplied by big plants which are not part
fer of ethanol produced from sugar cane and corn.
of the value chain, that is to say, they don’t produce
This increase in the amount of bioethanol resulted in
soybean oil, the main input used in Argentina.
large investments to produce bioethanol from corn.
Today, that demand is met by twelve companies that Since there is a large amount of production and ca-
produce it from sugar cane and provide about 525 pacity which is not being used in the industry, it
million cubic meters (48%) and 5 companies that would be convenient and technically possible to mix
produce it from corn, which provide 550 million cubic gas oil with a 20% of biodiesel in people and load
meters (52%). The installed capacity in the country transportation, the agro-industry and the electricity
is 1.26 million cubic meters. Producers are working generation. This is why it is essential that the Argen-
to its maximum capacity and so far, there are no re- tine Government includes this topic as a priority in the
mains to export. In September of 2018, investments productive agenda of the different areas involved.
were used to expand the installed capacity, and
some of them will start commercial operation in the
following months.

PAULMICHL GmbH Kisslegger Straße 13 · 88299 Leutkirch-Germany ·

62 Cámara Argentina de Energías Renovables Annual Report 2018 63
Synergy between Nation,
companies and provinces:
the challenges of promoting
the distributed generation
The diversification of the energy matrix is not just a technological shift. It’s
as change in the paradigm, in which regionalization, the small scale and
the participation of citizens should be the foundation.

A rgentina is about to implement the regulation

framework that authorizes citizens to inject
throughout the country the extra generated energy
27191, knowing that later on there would be a specific
framework for this initiative: Act 27424. During those
days, we had internal debates in CADER and in the
obtained from renewable energy equipment such as Alliance for Renewable Energy in Argentina (AERA)1.
solar panels, biomass and biogas technologies and We participated in the redaction of the first drafts of
low capacity water or wind turbines. How can the the act and summoned different political forces with
development of this market be propelled? representation in the Congress. Therefore, we could
On December 27 of 2017, Act 27424 was published in make a regulation that we all agreed on and that had
the Government gazette. This act created the regime a big chance of being passed by common consent in
to promote the distributed generation of renewable the Congress.
energy put into the public electric power distribution
grid. CADER has eagerly contributed to this initiative
since its start ten years ago, to the extent that it be-
came one of its management priorities.

When this debate started, we realized it was not nec-

essary to include this regulation as part of the Act 1.

64 Cámara Argentina de Energías Renovables Annual Report 2018 65

It is worth highlighting the
advantages of this energy model The aim of the original draft was to promote the use Relationship between the National of all the provinces, was useful to bring to light that
based on renewable energies: of renewable energy distributed through a model State and the Provinces different commercial and industrial sectors have
• It avoids spending foreign currency based on a temporary special rate. This was going great interest in using renewable energy systems.
Based on what has already been explained, we con-
used to import fossil fuels. to be used until energy prices went back to normal, Many government authorities became aware of the
sider it is essential to find the appropriate synergy
• It decreases the need to invest that is to say, until they were as competitive as fossil economic benefits caused by these systems, and
between distributors, provincial governments, us-
in the electrical transmission. fuels which were subsidized. We consider that, once especially of the consequences in the reduction of
ers, the National Government and the ones who are
• It regulates voltage in this goal is achieved, it would be necessary to imple- subsidies towards the electrical energy rate. Indus-
part of the chain. The thing is that, if there are less
low capacity grids. ment a method to measure net energy. trial parks, businesses from big cities and the rural
obstacles when equipment is being installed, the
• It guarantees energy security
sector of a big part of the country are amongst those
Many people intervened in the making of this draft market will progress faster. In that sense, the goal of
by diversifying the use of showing interest. Why? Clean energy solves two
which, in the end, adopted a model of “net billing”. reaching 1,000 MW in the next twelve years, which
different types of technologies. problems: the increase of the energy rate and the
Its main advantage is that it doesn’t affect the cash was set by the National Secretary of Energy, can be
• It promotes the development of supply of electrical energy in an independent way.
flow of distributors or electric utilities (it multiplies easily achieved in a shorter period of time if we have
companies in regional economies.
the number of suppliers but it almost does not affect appropriate comprehensive policies.
• It requires a large workforce. the cash flow, unless there is a significant injection of
• It decreases the emission
For the past ten years, CADER has worked intense-
extra generated energy, which is unlikely due to the
of greenhouse gasses. ly to achieve efficiency in the supply chain and has Actions taken by the provinces
discouraging rates). However, it also has issues, like
• It rationalizes the demand
contributed with the process of training human Before the Act 27424 was created, many provinces
in the case of solar roofs, which don’t take advantage
and brings awareness about resources. We have proved through professional passed their own local regulations regarding distrib-
of the total available surface. Only the fraction nec-
energy efficiency. research how convenient it is in economic terms to uted generation.
essary for self-consumption is used.
We can and must take advantage replace thermal distributed energy, which ends up
Even when the resulting document can be im- The regulations that stood out were the ones from
of these benefits, which are not being expensive, polluting and inefficient. Another
proved, it is useful to ensure a good implementation the provinces of Mendoza, (Act 7459), Salta (Act 7824
the only ones, especially today key aspect is to obtain a financing strategy to con-
that the country is going through that promotes the activity. We maintain that the di- of Net Balance), Santa Fe (Prosumer Program), San
tribute with the initial investment. That is why we
an energy emergency, that results versification of the matrix should not be just a tech- Luis (Act 921), Neuquén (Act 3006), Misiones (Act 97
in spending millions of dollars
have expressed this concern to the authorities and
of Net Balance) and Jujuy (Act 6023). In some cases,
nological change but a shift in the paradigm and we public and private banks.
in the purchase of foreign fuel. they are already being applied. The concepts in the
express it every time we have the chance to do so in
2018, year in which the Act 27242 of Distributed regimes of the provinces may differ from the ones in
debates. The change in the paradigm implies the re-
Generation was analyzed by the energy portfolio the Act of Distributed Generation.
gionalization and the change in the scale of projects,
involving the participation of citizens. We consider
that these have to be the foundations for the pro-
cess, not benefits. This is why the process of adapt- REGULATORY FRAMEWORK FOR RENEWABLE ENERGIES
ing and implementing the new model is essential to
the success of the distributed generation. In other
words, it means it should be done in a faster, more
Federal Scope Regulation Framework
efficient and cheaper way. All users of the distribution system. Net-billing.
NEW FRAMEWORK Technical regulations.
With the regulation decree and the consecutive offi-
cial resolutions that the National Secretary of Energy
will publish, according to its announcements, in the
Incentives for Promotion GENERATION FODIS (Fund for the Distributed
following months conditions will be set so that res-
Interest Rate Subsidy Act 27424 Generation of Renewable Energy)
idential, commercial and industrial users can evalu- + bonus based on capacity. Trust fund for promotion.
ate the opportunity of improving their economy and Fiscal certificate. (500 million Argentinean pesos)
energy security, taking advantage of the benefits
provided by renewable sources.

66 Cámara Argentina de Energías Renovables Annual Report 2018 67

Quality Control Systems:
CADER’s Proposal
Another important aspect to be considered is the
process of quality control in the facilities. Due to the
scale, it is impossible to certify each connection indi-
vidually. Therefore, we consider it is necessary to es-
tablish a system of authorized installers who can be
controlled by sampling techniques. In this way, we
could get the grades based on the result obtained
by installers. This was a successful system in Ontar-
io, Canada, and it had a low transaction cost. If the
State and the institutions involved are not able to
implement this method – or they decide they don’t
want to – CADER offers to do it or to participate with
other institutions in a transparent system, without
artificial commercial barriers, with the aim of main-
taining the required quality and safety levels.

Change in the Making

Based on the factors mentioned, we have a great op-
portunity before us to transform the energy matrix.
We even have the advantage of counting with the
knowledge acquired by other countries. These coun-
tries’ resources have less capacity than the resources
in Argentina. We are getting closer to achieving the
challenge of turning users into “prosumers”. We just
need to find a consensus to work towards the same
direction, including the public and private sectors in
the debate meetings.

68 Cámara Argentina de Energías Renovables

Sectorial meetings on
renewable energies: a
great opportunity
Since 2018, this spaces for debate, encouraged by the national Government
and with the participation of the public and private sector, give us the chance
to analyze the problems of the sector together, with the aim of facilitating its

A t the beginning of 2018, the Government pro-

moted the Multi-Sector Meeting of Renewable
Energy, so that the actors of the private and public
sphere are able to analyze together the different sit-
uations and problems that the development of the
market is facing in Argentina.

In CADER we really appreciate and value the creation

of this space, since we can discuss critical aspects
that need specific solutions from the State and the
private sector. We hope that in the future, the pro-
posals that were presented by the different commit-
tees are implemented by the authorities, so that we
can promote and facilitate the development of clean
energy in Argentina.

70 Cámara Argentina de Energías Renovables Annual Report 2018 71


In order to increase the level

of efficiency in the working
CADER’S Proposal
Financing: sine qua non
agenda, four sub-committees
were created throughout 2018:: Considering that the distributed generation from re-
newable sources has grown significantly, we think it

condition for renewable

Simplification Sub-committee would be useful and necessary to create a sectorial
Its aim is to gain full access to committee to meet the needs of SMEs, who are ded-
the benefits of the Act 27191: icated to this niche in the different provinces.
• Fiscal benefit.
• Custom benefits.
There are new and important challenges coming,
that will require that the State and the private sector energies
• Registry of suppliers. to work together. Some of these challenges are: na-
• Self-generation projects. tional and provincial regulations, quality standards
for equipment to be installed, connection protocols,
injection measurements, development of human At national level, big efforts have been done for the development of the sector,
Labor Sub-committee and material resources, lines of credit for specific but the rest of the path is intricate with no financial conditions backup, with
• Adherence to the ART (Labor promotions, aspects related to the development of
Risk Insurance Company) Act. feasible terms and interest rates for this kind of projects.
the chain of suppliers, among others.
• An update of the Collective
Working Agreements (in order to
enhance the development of the
industry and the employees).
• Training plan: identify the needs
and tools required to improve the
employees’ technical skills.

Transport Competitiveness
• Availability and costs of

equipment and services. he balance of the evolution of renewable energies Multiplying almost 13 times the installed power of
may be considered positive. Nearly three years renewable energy does not result in a simple task.
• Certifications and requirements
for the transport of oversized after the enactment of Act 27191, two calls for bids Infrastructure issues, logistics, transport, customs,
loads in national, provincial have been held. They resulted in the awarding of 147 bureaucracy, equipment availability and labor are
and municipal routes. projects, which added 4,67 MW of installed capacity some of the questions to be answered to continue
(50% more than expected.) This power corresponds, moving forward in the diversification of the power
largely, to solar and wind technology, with 1,733 MW matrix through the renewable sources. Financing is
Finance Sub-committee
and 2,466 MW respectively, followed by biomass (158 another topic and, as well as the others, must be ad-
• RenovAr Projects.
MW), biogas (65 MW), the small hydroelectric projects dressed jointly between the private and public sec-
• Development of the Renewable tors to achieve successful results.
(PAH, 32 MW) and biogas from solid waste
Energy Term Market and
self-generation projects. Likewise, as regards the MATER, the first semester In this context, an important step was the creation,
of 2018 shows an accumulated result of 1,080 MW, in June 2018, of the Multisectorial Committee for
• Strengthen the chain of suppliers
of renewable energies. with priority of dispatch to deliver power to SADI, Renewable Energy, which seeks to address these

based on power contracts among private parties, issues.

which totalizes power of 5,547 to be installed in the As an appendix of this committee the subcommit-
next four years. tee of Financing emerged. Public banks and CADER

72 Cámara Argentina de Energías Renovables Annual Report 2018 73

participate, the latter as one of the representatives RenovAr and MATER Financial context and complexity in the provision of the resource for
of the private sector, in order to move over the lim- power generation, so they are less attractive than
As a review, in Agosto 2018 there are 225mW oper- The “financial storm” started in Argentina by the end
itations experienced by the sector when satisfying other technologies. Besides, sponsors for such proj-
ative from projects awarded in call for bids. 200 mW of April 2018 is undoubtedly an ingredient for this
the needs of capital, especially for low scale projects, ects, usually consortiums with the same farmers, are
out of those 225mW are provided by wind parks. An context, which complicates the funding of projects,
such as self-generation, biomass technologies and characterized by having a limited capacity of finan-
amount of 55% of projects awarded in rounds 1 and especially in Round 2. However, although it could
biogas, and the domestic providers of renewable en- cial support. Simultaneously, given the lower power
1.5 are under construction. be considered as the straw that broke the camel’s
ergy. Even though progress is still slowly emerging, of these projects, associated figures are disadvan-
back, reality shows that more structural issues are
it represents an important space to find common As regards funding, according to official sources, taged when encouraging evaluation and structuring
dragged, keeping relation with the sector emerging
ground, improve understanding and mitigate the 70% of the 29 projects awarded in round 1 of the of credit compared to other options of larger energy
in the country, with no expertise as regards local
risks in the sector, which is starting development in RenovAr program, for 1,142 MW, has been funded, generation capacity. On the other hand, cost struc-
banks and companies involved in its development,
the country. situation repeated in the 47% of the 30 solar and tures linked to complex financial engineering, like
and with a need for joint learning. Its terms do not
wind projects (for 1,281.5 MW) from round 1 and half syndicated loans, are prohibitive; therefore, these
comply with the contracts or regulatory frameworks.
of the 10 contracts renegotiated through Resolution projects are limited to the domestic banks, in which
202, totaling 500mw. Some of those obstacles are related to the risk per- rates and/or repayment terms do not comply with
Distributed generation ception associated to renewable energy generation the expected TIR. Even when the project was strong
For Round 2 (88 projects for 2,043 MW), perspec-
by domestic credit entities, as they still have no track enough, the requirement of surety bonds for the to-
As regards the distributed generation segment, un- tives of financial closure have become harsh, which
record locally, as international experience fails to be tal amount of the loan during the construction and
derstood as installations of small and medium scale is specially reflected in the increase of the interest
an indicator. Another aspect to be added consists of the joint and several bonds of shareholdrts generate
near consumption points, the dynamics is less vig- rate; it is a result of the macro economic instability
the lack of expertise of some players, not only at the overruns and obstacles hard to be overcome.
orous. The regulatory framework for users requiring affecting Argentina since April 2018.
time of technically structuring the projects, but also
below 300 kW is Act 27424, Regime of Promotion of In consolidated terms, even though the progress in the process of the funding process; this situation
the Renewable energy distributed generation inte- showed in financial closure of projects is not worth- worsens if international banking is needed, with cost
grated in the public power network. Despite being less, by August 2018 there are still companies which overrun and logical delays for the first experiences. Project funding, first stages
enacted in December 2017, today it has not been did not achieve this goal. Explanation is found in
regulated, which represents a significant obstacle to As regards specifically small-scale projects, specifi- On the other hand, there is a gap between customs
several reasons, detailed below to gauge the com-
the development of this sector. It is a market niche of cally for biomass and biogas technologies, the dif- and practices for international renewable energy
plexity faced by the sector, although it is not an ex-
emerging development, featuring great opportunity ficulties to reach financial closure are linked with projects funding and those available domestically.
haustive analysis.
as regards jobs generation and an incentive to the the perception by financial institutions of some risk The modality of Project Finance with no resources
development of local parts and services suppliers re-
lated to minor power installations.

While there are transversal problems in all scales of

renewable energy facilities, when dealing with chal-
lenges and opportunities faced by companies as re-
gards financing, it is suitable to separate the analysis
between large power projects, such as MATER call
In consolidated terms, even
for bids, and minor scale projects, like those named though financial closure
“distributed generation.”
of projects progressed,
by August 2018 there are
still companies which are
not achieving the goal, for
different reasons.

74 Cámara Argentina de Energías Renovables Annual Report 2018 75

from the shareholder has a very low penetration rate pany balance sheets) for the loan, additional to the ment of investment (the flow in self-generation is by foreign companies supported by ECAs or turnkey
locally, despite being clearly suitable for these dis- repayment of the credit with the project funds once the cost of power avoided,) the lack of working capi- contractors and their financing plans with subsi-
tinctive projects for their stability and income previ- operative. For large companies, this scheme may tal financing for the purchase of inputs, or the credit dized rates. In some cases, incorporation of nation-
sion once facilities are operating; this occurs not only be the most convenient, as it is less expensive that conditions incompatible with the repayment of this al components means the sponsor cannot obtain
because such modality was absent for the produc- Project Finance. However, it becomes unsustainable kind of investments (oscillating between 4 and 8 financing from ECAs, and, therefore, the sponsor
tive sectors for the last 20 years; but also because for projects with sponsors that do not have the pos- years according to the province where the project is must recourse to the support of the domestic banks
interest rates are higher, thus turning the project sibility to ensure the required volume of debt. located) negatively affect the segment expansion. to finance the percentage considered locally. How-
unaffordable. ever, most domestic suppliers are typically SMEs,
In general, there is a direct relation between the fi- However, in 2018 there were announcements about
for which the access to capital for work is a restraint
The larger cost of this funding is the result of having nancial quality/capacity of the sponsor, the scale “green” credit possibilities by the commercial banks;
translated in higher manufacturing costs.
the income flow of the project as the only repayment of the project and the financial alternatives with- those possibilities consist of funds granted by inter-
source of debt, which implies higher risks for banks in the specific needs. Additionally, more common national organizations, aimed at providing conditions From CADER, alternatives to different governmen-
and also higher costs when structuring. Si subse- technologies, like wind and solar power, with great for power efficiency or renewable energy projects tal agencies and state-owned banks have been
quently the project does not start operation in the technicians and international experiences pave the Popularization of such possibilities and the improve- submitted; they could improve the conditions for
terms and conditions agreed, the bank has no other way. This also comprehends international promo- ment of conditions offered up to now, which would local suppliers. As an example, a typical practice of
resource to get payments. Probably, as projects end tion agencies (ECAs) from the countries of origin of allow the repayment of the credit with the savings commercial banks is to prefinance the manufacture
the construction stage and start generating power, technicians, which provide funding with more con- generated, would bring hope to distributed power. according to the balance sheet of companies, which,
this financing modality will become more frequent. venient costs and terms. As projects are farther from in most cases, is not enough for the volume of cap-
that cluster of conditions, the difficulties and needs ital required.
Up to now, most projects were funded according to
for technical and financial expertise intensify.
the Corporate Finance modality, which is character- National production of components Given the great development required by the do-
ized as a traditional credit structure. The borrower mestic market, the historical balance sheets are not
provides security interest (assets, mortgages, com- National components integration in the industry of enough to grow along the RenovAr and MATER proj-
renewable energy is beginning and, even though ects. One option for this could consist of bringing
Distributed power the percentage of the supply of national pieces and the capital forward with backup in the contract sub-
Several problems described for the projects in bids parts has increased between the first and the sec- scribed with great technology companies. Addition-
are shared with the projects of distributed genera- ond bids of RenovAr, it is important to analyze the ally, it is crucial to improve competitiveness through
tion. Without addressing the need for regulations dynamics of the industry, besides the bids from the reduced-rates credits, or the creation of a local fund-
10 about the connection to power networks, the cur- National Administration. ing source for this long-term projects as to allow sup-
PROJECT FINANCE rent status of the financial conditions does not sup- The production sector is diverse and, according to plement of the external funding (whether through
port the development of the sector. the technology we would refer to, we can find from ECAs or commercial banks.) Therefore, given the
7-8% short terms of projects (construction) and the long
It is important to highlight the relevance of such large companies, like suppliers of wind turbines, to
* Estimated increase of prices for Round 2 conditions when incentivizing distributed genera- SMEs and engineering companies that supply elec- terms (operation), such credit could include a long
tion. Currently, there are players which are obliged trical components, metal structures, special cables tranche and a short tranche, so as to avoid the risk
by Law 27191 to self-supply power from renewable and transformers and parts for solar farms. These are of construction affecting the long-term trench rate.
sources; the percentage started in 8% in 2017 and it the metal mechanic and electric companies which, Finally, as regards the distributed generation sector,
will grow up to 20% in 2025. In this context, the op- with no specialization in this market, still can supply its regulation creates the Fund for the Distributed
ROUND 1 ROUND 1.5 RES. 202
tions consist of getting supply from joint purchases parts, consequently resulting in an opportunity for Generation of Renewable Energy (FO-DIS), as instru-
the segment to move forward in the specialization
70% 47% 50% by CAMMESA, buying clean power form a generator/ ment to promote installation of this kind of equip-
primary marketer through a PPA or self-generation. in this market. ment through loans, discount of interest rates for
• Corporate finance instead of Project finance (a be reverted) However, for the transition to be feasible, it is nec- credits, discounts for acquisition of systems, bonds
For the last two cases, but specially for self-genera-
• Structuring through Multilaterals and ECAs (to be expanded
tion, there are limits for funding installations. Mat- essary to have a financial support to level the do- and fiscal credits, among others. CADER understand
with commercial banking)
ters such as the lack of a fund flow ensuring repay- mestic industry in terms of the convenience offered that such fund is a cornerstone for the operation of

76 Cámara Argentina de Energías Renovables Annual Report 2018 77

the small and medium scale segment, as well as for The reality shows that the change to renewable
the development of the whole value chain associat- sources worldwide is out of discussion and our
ed. Incentives must be available both from the offer country is no exception. That is expressed in the
and demand; that is to say, they must be aimed at commitment in the agenda of the UN about the sus-
providing financial support for suppliers of instal- tainability of the productive activity and the aware-
lation and services as well as financing those users ness about climate change impact; the fall in prices
interested in self-generation. experienced by the renewable technology in order
to transform into a competitive alternative, and the
possibilities of greater autonomy provided by the
diversification of the matrix into renewable gener-
In summary ation sources. What is true is that it is here to say.

Advantages, positive international contexts and It is also true that, nationally, considerable efforts
contributions to renewable energy for the country have been made for its development. However, ac-
are clear: generation of jobs, domestic productive cording to achieve the goals in Act 27191 and the
activities, federal investments, diversification of the low figure of distributed generation facilities, there
power matrix, generation of non-contaminating en- is still a long way to go. The road is impassable with
ergy, productive transformation of previously inop- no financial conditions supporting with terms and
erative areas, power provision in isolated sector and interest rates making feasible the development of
reduction of gases. They are some of the most rele- the sector. The current context looks unclear about
vant aspects. The challenge for Argentina is also rel- the feasibility of having such support in the short
evant: changing the power matrix generation, from term. Meanwhile, it is relevant to continue working
an under-2% partipaction of renewable energy to jointly with financial entities in terms of regulations
20% in less than 8 years. and tariffs so the renewable momentum is final.

78 Cámara Argentina de Energías Renovables Annual Report 2018 79

a bottleneck that
requires decisions
The regime of expansion of the high voltage transmission system has
been proved unsuitable for the medium and long term challenges.
Uncertainty about its evolution is discouraging.

D espite several previous announcements, just

now in September 2018 the call for bids is seen
closer for the extension of the extra high voltage
The opinion considers the following aspects:

a) The feasibility and argument of contracting

through the entering into of a PPP contract,
electricity transmission system, imperative for the
with previous intervention of the public private
sustainable increase of the generation of electrical
partnership unit, stating the reasons for which
power from renewable resources.
public interest is better served through this
For that purpose, the Secretary of Public Private resource instead of other available contracting
Partnership (PPP) issued its opinion prior to the call options.
for bids or public competition for awarding the ul-
b) T he impact of expenses or increases arising
timate entering into of a public private partnership
through this contracting will have on the fiscal
contract for the PPP project “Extra Alta Tensión en
outcome goals in the corresponding budget
500 kV ET Río Diamante - Nueva ET Charlone, Esta-
ciones Transformadores y obras complementarias
en 132 kV.” c) The estimate of the financial and budget
effects of the contract during the periods in
which it will be executed.

80 Cámara Argentina de Energías Renovables Annual Report 2018 81


• Preliminary report of the

d) The estimate of the sufficiency of flow of

Impact of the tax

(former) Ministry of Energy.
public resources during the validity of the
• Techincal report about
contract and for each committed budget period,
environmental considerations for
for the execution of the contracted covenants.

reform in renewable
the (former) Ministry of Environment
e) Externalities arising from the project, and Sustainable Development.

including the estimate of the probable flow of • Technical report issued by the

energy projects
future incomes generated by its development Public Credit National Office.

in favor of the corresponding areas.

f) The impact provoked by the project in the

creation of jobs and in the encouraging of Beyond evolution registered as regards the referred
SMEs and in the national industry in general,
call for bids, it is an open secret that authorities are
indicating the number of direct and indirect
revising the regime of extension of the high voltage
Modification of the fiscal regime stipulated by the end of 2017 by Act 27430
job positions estimated to be created, as well
transmission system. This has been proved unsuit- affects works of renewable generation which are both under construction
as the ratio of the participation of the national
able to face the medium and long-term challenges, and considered for the future. Here, a review of the main changes arising.
industry in general and, specially, of SMEs,
not only for the addition of several power plants
both directly and indirectly, during the contract
from renewable resources, but also for the new con-
ventional offer which shall be added from the “gen-
g) The social and environmental impact eración térmica emergencial” (“emergency thermal
provoked by the project.. generation”) (resolution SEE 21/2016, March 22nd,
2018), and the one aimed at improving the efficiency
h) The evaluation of cost/benefit as regards
of the offer (resolution SEE 287 - E/2017, May 10th,
the contract mode, considering risks in case of
2017) through the call for projects of new thermal
contract termination.
generation from the ending of the combined cycle
i) The evaluation about the equitable and cogeneration project, besides providing the
distribution of risks determined for the parties Sistema Nacional de Interconexión, SADI (National
according to the principles in section 4 of the Interconnection System) with better assurance as
applicable law, which shall be equal to what is
stipulated in the contract.
regards supply1.
It is not clear if evolution aims at an autonomous
A ct 27430, published in the Official Bulletin
on December 29th, 2017, modified the fiscal
regime of Argentina. These changes impact both
Income Tax
Aliquot and management of dividends
j) Other information which may allow the concessions regime (today, independent carriers are the renewable energy generation projects cur- All profits obtained by corporations, including
evaluation of the convenience of executing the not grantees, but they receive a technical license rently under construction and future projects. This subsidiaries of foreign companies, are subject to a
project through a public private partnership from Transener) or if it will be included in the own- is why detailing the key modifications produced is fixed rate, according to the following scheme:
contract. ership concession of Transener. Certainly, lack of de- appropriate.
cision in the topic is a clear problem for the private
initiative to offer solutions to the development de- Fiscal period Rate
manded by the high voltage transmission system, 2017 35%
whilst the State has showed it cannot replace it.
2018-2019 30%

2020 thereafter 25%

1. This matter has been analyzed in “Responsabilidad de los
transportistas por la actividad de los transportistas independi-
entes” (Liabilities of the carriers for the activities of the indepen-
dant carriers), in Revista Argentina de Derecho de la Energía, Hi- Additionally, companies starting periods on Janu-
drocarburos y Minería (Argentine Magazine of Energy, Hydrocarbon
and Minining), RADEHM, N°. 8, February-April 2016, page 163.
ary 1st, 2018 and distributing dividends as regards

82 Cámara Argentina de Energías Renovables Annual Report 2018 83

accrued results from such fiscal period, shall apply Adjustment for comprehensive inflation In Regulatory Decree 409/2018, an increase in the Fiscal Pact
tax rates according to the following: The last case shall be applied according to the fol- computable percentage on the 33% of the sum of
In addition to the tax reform, a fiscal pact was includ-
lowing considerations: such tax for the fiscal year 2018 was established.
ed. It comprehends several commitments between
Withheld over • Exercises starting in 2018: the adjustment It is important to explain that the following scheme the State and the provinces to reduce the charge of
Fiscal period could be representative of the progression, although
Distributed dividends applies if inflation of the exercise surpasses certain taxes with cascade effect; that is, there is an
33.33 per cent. the decree does not specify which would be the pro- accumulation through the productive process and
2017 Equalization tax
gressive increase for the upcoming fiscal years: supply chain.
2018-2019 7% • Exercises starting in 2019: the adjustment
2020 thereafter 13% applies if accumulated inflation of the exercises Such pact involves the commitment of provinces for
2018 and 2019 surpasses 66.66 per cent. 2018 2019 2020 2021 2022 the progressive decrease of the Gross Income Tax
33% 50% 67% 84% 100% and the Stamp Tax during the next five years.
Equalization tax, valid only for the 2017 fiscal period, • Exercises starting in 2020 and future
involves that, when dividends are paid or utilities ex- exercises: the adjustment applies if It is deemed important to review these modifica-
ceeding the accumulated profits as of the end of the accumulated inflation of the last 3 exercises tions in order to evaluate their impact in the profit-
immediate previous exercise to the payment or dis- surpasses 100 per cent. ability of the renewable energies projects.
tribution date are distributed, 35% of such exceed-
With the tax reform, the possibility to decide a reval-
ing amount must be withheld in the nature of only
uation of certain goods to tax-accounting purposes
and definite payment.
is established:

Thin capitalization - interest deduction

Rules of thin capitalization are modified. It is estab-

lished that interests (as well as exchange differences)
Tax and accounting revaluation
of debts of financial nature, incurred with subjects Tax and accounting revaluation of certain goods
(residents or not), shall be deducted up to the annu- considered in the assets of taxpayers, and their val-
al sum stipulated by regulations to that effect (still ues being outdated after the inflationary processes
undetermined) or up to the equivalent of the 30% frequent in Argentina, is possible.
of the net income of the exercise before deducting
Revaluation is of discretionary nature, and it shall be
both interests and amortization, applicable to the
applicable only once in the closings after December
largest amount.
30th, 2017.

It should be pointed up that such revaluation in not

Update applicable on assets subject to the benefit of accel-
A new update mechanism is established in the In- erated amortization, stipulated in Act 27191.
come Tax, on the cost of acquired goods or invest-
ments in the fiscal periods starting on January 1st,
2018 onwards.
Check tax
The new adjustment mechanism shall be applied
on the base of percentual variations of the Indice According to Act 24732, the Executive Power is
de Precios Internos al por Mayor, IPIM (Domestic empowered to progressively increase the pay-
Wholesale Prices Index), provided by the Instituto ment in advance of the tax on bank debits and
Nacional de Estadística y Censos, INDEC (National credits, which should be, from 2022, deemed as
Institute of Statistics and Census of Argentina.) tax credit fully.

84 Cámara Argentina de Energías Renovables Annual Report 2018 85

Renewable energies:
a state policy
Sebastian Kind, National Subsecretary of Renewable Energies

F rom December 2025, the development of re-

newable energies sources for the power gen-
eration became one of the cornerstones to achieve
RenovAr and MATER
The RenovAr program, launched in May 2016, was
the first mechanism through which we moved for-
larger diversification of the national power matrix,
ward towards a better participation of the renew-
with competitive technologies in terms of costs and
able energies in the power matrix, with results that
low environmental impact.
were improving along the subsequent stages, both
The regime of national promotion for the employment in terms of amount of offers received and nation-
of such sources, created by Act 26190 and modified al prices and content. In total, for all technologies
and extended by Act 27191 and its regulatory decree tendered, 146 projects were awarded, spread in 21
531, 2016, established the bases for achieving such provinces, for a nominal power of 4,441 MW. If the 10
goal. It stipulated minimum goals as regards contri- projects with adjusted contracted are added, about
butions of renewable energies sources to the power 500 MW framed in Resolution 202, 2016, the figures
matrix. Likewise, it also determined the mechanisms reach almost 5GW of renewable power; half the en-
for fulfilling such goal and created the reassurance ergy needed to reach 20% of the demand by 2025
and promotion instruments, necessary for generat- determined by Act 27191.
ing trust and predictability for long-term investment.

86 Cámara Argentina de Energías Renovables Annual Report 2018 87

The second mechanism considered in the Act com-
prehends the creation of the MATER(Renewable
Energy Generation Program), which enables the
Large Users (GU), with average annual power de-
mands equivalent or surpassing 300kW, to comply
with the goals stipulated through self-generation
o contracting of renewable energy generators. It in-
volves a discount in the charge of the power reser-
vation and the exemption on the payment of trading
charges and management of joint purchases carried
out by CAMMESA following instruction of the Na-
tional administration, on behalf of the entire power

All this is regulated by Resolution 281 of 2017, aimed

at creating the conditions and providing concrete
economic incentives, so that contracting or self-gen-
eration with renewable energy is perceived by GU as
a real opportunity. It is noteworthy that, at present
time, renewable energy, particularly wind and solar
power, is an economically convenient alternative,
with prices well below the values that GU face today
in the wholesale market, and even only a fraction
of the current price when contracts are long-term

Today, with prices of imported fuel costs rising and

the cost of renewable technology equipment in
decline, the competitiveness of clean energy is an
obvious reality. This is proved with the 89 requests
for priority dispatch for power of 4,079 MW, from
which 41 projects have been assigned, for a total of
1,009.8 MW, which equals 20% awarded accord- the country, creating jobs with high added value and throughout the country is determined. For this pur- computed for the issuance of the tax certificate. That
ing to the RenovAr program. For their part, the GU contributing to a cleaner, safer and cheaper for the pose, the promotion regime establishes the right to is the origin of the joint resolutions of the former
who have decided to end joint purchases reach 42 country Argentine energy matrix. receive a tax certificate by the beneficiaries who, in Ministry of Energy and the Ministry of Production
members, reaching demand for 6 TWh (19% of the their investment projects, prove certain percentage 123/2016 and 1/2017 and Decree 814/2017.
total demand by GU), which clearly expresses the of integration of national components in electrome-
As a result of the measures taken and the interest
economic convenience of assuring power supply in chanical facilities, excluding civil works and transpor-
of the industrial sector to gain an increasing share
the long term. National content tation costs and mounting equipment in accordance
of the construction and development of new power
with the provisions of Decree 531 of 30 March 2016.
Considering jointly the RenovAr Program, Resolu- Among the objectives set by Law 27191 the devel- generation projects from renewable sources, a nota-
tion 202 and MATER, a total of 5,941 MW distributed opment of policies aimed at promoting domestic in- To meet this objective, it was necessary to create a ble increase in the local content among the various
in 197 projects is observed, of which 86 are already dustry through the local production of capital goods, specific regulatory framework that would rule the rounds of the RenovAr program was detected; such
generating energy or under construction. This trans- parts and components for the production of equip- integration conditions to be met by goods to be national content increased from a weighted average
lates to 4,400 million dollars being invested across ment for power generation from renewable sources considered national and therefore allow project be of 14% in Round 1 up to 30% in Round 2.

88 Cámara Argentina de Energías Renovables Annual Report 2018 89

In the case of wind power technology, incentives ating 17,500 jobs by 2020, out of which 15,500 cor- frastructure, which is the commitment that the Gov- Macro-economic situation
in the regulatory framework and potential of the respond to the stage of construction and assembly ernment assumed and plans to carry out through the
domestic industry to participate in the value chain of plants, and 2,000 for the operation and mainte- PPP program tenders for 2,400 km of transmission Although renewable energies are not separable from
managed to get the interest of major internation- nance of projects. Full report is available . 1
lines, or restraining, avoiding risks of congestion. The the domestic and international economic situation,
al wind turbine technicians to locate their plants in latter is the alternative that we now take as long as the structure of assurances supporting their develop-
our country. This is evidenced in the increased of the planned works will require a runtime that will ment has shown its strength and credibility from local
the CND, which grew from 11% in Round 1 to 37% in place the entry of new capacity in the medium term. and foreign investors, even in times of financial tur-
Round 2, with projects reaching 85%. As regards so- Distributed generation bulence. Projects are moving forward and obtaining
In this context, and aiming at continuing the policy,
lar photovoltaic technology, foreign companies have funding according to previsions, thanks to the iron-
Under the goal of encouraging the development initiated in 2016, to promote the incorporation of re-
landed in the country for manufacturing structures clad risks (in terms of politics, economy and finances)
of renewable energy sources for power generation newable sources for power generation throughout
and solar trackers. attached to the way in which they were structured,
throughout the territory, reducing losses in trans- the territory, the launch of a new tender for 400 MW
both for the RenovAr program as well as MATER.
The abundance of renewable resources, the size of port and promoting rational consumption, Act 27424 for projects up to 10 MW, ie small scale, has been an-
the Argentine market and the strength of the mea- of Distributed Generation was enacted in December nounced for the month of October 2018. This will di- After nearly three years of administration, it can be
sures taken under the RenovAr program, the Term 2017. This act sets policies and legal and contractual rect investments in non-traditional players (agricul- said that the development of renewable energy has
Market and the recent Distributed Generation Act conditions for the generation of power from renew- ture, SMEs), thus generating economic and technical become a state policy in Argentina, with a promising
sponsor a favorable horizon for industrial develop- able sources by users of the distribution network for benefits to the power system and encouraging the horizon both in terms of the energy sector itself, as
ment linked to the diversification of the power ma- their own use, with eventual contributions of sur- deployment of a value chain associated with proj- well as in the positive economic and social distribution
trix based on renewable energy sources. plus into the network. ects connected to medium voltage networks. generated by its deployment throughout the country.

Its content, as well as the regulatory decree and min-

isterial resolution, with its draft available for public

Jobs discussion, has been the result of the joint actions

of the former Ministry of Energy, Ministry of Pro-
In a domestic context of progressive construction,
duction, Ministry of Education, Ministry of Finance,
installation and commissioning of wind power gen-
AFIP, the regulating entities, distributors, coopera-
eration parks through renewable energy sources,
tives, provincial governments and business cham-
the Secretariat of Renewable Energy incorporated a
bers. Among other issues, this Act will comprehend
new perspective of analysis for the incidence of the
the technical specifications, the connection authori-
sector on the employment dimension. Coordination
zation procedures and details of the billing scheme.
of Cooperation conducted a survey through a ques-
As regards terms, it is expected to have both reg-
tionnaire included in the bid documents within the
ulatory decree and the resolution for execution in
Round 2 of the RenovAr program. From more than
October 2018.
200 offers and the data supplied by the companies,
an indicator was designed to measure and evaluate
the creation of direct jobs: the IEDER, which shows
the amount of jobs per MW for each of the technolo-
Round 3 - MiniRen
gies promoted by the RenovAr program (wind, solar
photovoltaic, small hydroelectric, biogas, biomass, Limitations in the transmission network are now-
biogas from landfills). adays the major bottleneck to continue adding
power on a large-scale to the system. This reality is
The main result of the published report stresses that
approachable in two ways: expanding the power in-
the development of all projects of renewable ener-
gy generation already awarded under RenovAr and
with dispatch priority for the MATER will involve cre- ovable.pdf

90 Cámara Argentina de Energías Renovables Annual Report 2018 91

Power generation
panorama: contributions
for a collective vision
In order to influence the definition of sustainable policies for the sector,
CADER participates in this platform, aimed at stimulating public
debate about the future power generation of the country with technical

2018-2040 CADER Panorama The program Escenarios Energéticos Argenti-

na 2040 (Power Generation Panorama Argentina
CADER supports and participates in the develop-
2040), in its third edition, included nine work teams
ment of the Plataforma Escenarios Energéticos1
in 2018. Among the most relevant key aspects of this
(Power Panorama Platform), an initiative aimed at
scenario, it is highlighted that the development of
promoting, with technical foundations, the debate
the matrix must be compatible with the established
about the power generation future of the Republic
objectives for national and global decarbonization to
of Argentina. Contributing to the definition of sus-
reduce the emission of greenhouse gases. In 2040,
tainable policies for the sector is its goal.
the power matrix of Argentina should include a per-
In that process of a joint creation of a long-term centage sufficiently low of fossil generation as to ful-
vision, academic institutions, professional partner- ly remove such generation in 2050. The world con-
ships and private companies, and the State partic- text encourages the adoption of ambitious goals and
ipates through the Subsecretary of Panorama and the penalty for emissions provoking climate change.
Evaluation of Projects.
In this sense, the reduction of the social and environ-
mental cost of the measures aimed at the change of
1. perspective from centralized generation to distrib-

92 Cámara Argentina de Energías Renovables Annual Report 2018 93

uted generation must be ensured. It is also neces- gies, costs of O&M and capital tend to decrease due Bioethanol and biodiesel could be replaced by bio-
sary to prioritize industrial policies of local integra- to constant improvements in efficiency and plant methane and second generation biofuels tion in
tion and keep a competitive average cost of power factors, according to learning curves with well-es- transport and seasonal uses. Biomethane injection
(MWh). tablished rates, which provide reliability to forecasts pipeline in scale and used as transport, like CNG ,
of scenarios. The raise in the cost of GHG emissions could be implemented very quickly with decreas-
From this perspective, it is deemed necessary to
translate in growing advantages for renewable ener- ing costs. This way, injection in ducts would surpass
maximize the co-benefits of energization: creation
gies; this is explained in the cost charged directly on 30% by 2040. Later, this could be supplemented
of local jobs, power safety, environmental improve-
the fossils (like carbon price, similar to taxes applied), with advanced biofuels and then with derivatives of
ment, regional development, among others. In re-
in the financing differential cost for this sources (fa- power-to-gas.
newable energies and their enabling technologies
vorable climate funds), in the trade measures (like
(control/storage), a sharpest decrease of their cost
customs barriers) or in investments (investments
can be foreseen, deeper than the traditional options
withholdings and stranded assets in fossils.)
along the considered period. Low cost, high impact
measures precede transport and storage infrastruc- The relative reduction of demands of power due to Sustainable transport
ture investments, as it has previously occurred in URE in transport, both for home and industry sup-
An increase in the penetration of smart and electric
high penetration cases. ply, will be enhanced by synergy in the simultaneous
vehicles would decrease the demand of vectors for
adoption of renewable energies, particularly near
It is also ensured to extend the system flexibilization internal combustion engines, both fossils as bioen-
the final use. This determines efficiency surpassing
to include variable renewable sources in the power ergetics, thus cheapening the transition. The mas-
20%, which is not part of the model. This occurs in
matrix. It is also set out the rational use of power (in sive amount of new and used batteries of vehicles
the electrification with digitalization and smart net-
Spanish Uso Racional de Energía, URE) and avoiding would increase the electrical storage capacity at low
works for addition of ERV distributed in those three
the effect of compartmentalization (lock-in) leading cost of the entire system.
sectors, such as the application of solarthermal en-
to keep the use of fossil further essential in the tran- positive environmental impact. Regarding indepen-
ergy home and industrial automation. In the industrial and residential sectors, heat and co-
sition and stranded assets with its consequential so- dence and trade balance, the import of natural gas is
generation through biomass, as well as measures for
cioeconomic cost. reduced in the long term due to the domestic pro-
responding the demand, will achieve the reduction
CADER adopted every efficiency measure in its max- duction of biogas and other bioenergy vectors.
of the use of fossil fuels where distributed electric
imum dimension. The considered renewable ener- power and solar energy are considered insufficient. The goal of replacing the fossil sources for renew-
gies penetration goals are: These and other actions based in the user’s change able sources (wind and solar photovoltaic power in
The rest of the demand involving fluid fuels may
of behavior in these trailing sector will transform the particular) in the energy system, with its consequent
be supplied with advanced biofuels. Cogeneration,
demand curve, thus reducing the need for backup increase in strength, has only been achieved in the
By 2025: 28% which reduces the combustion of hydrocarbures
with fossil generation. The key role of hydropower power system, and, in a minor scale, in the demand
itself, will be increasingly fed with this bioenergetic
By 2030: 39% plants would be providing support to ERV, consid- from other sectors. It is expected that other techno-
vectors, as it occurs today with sugarcane bioetha-
By 2040: 60%, equivalent to 77,937 MW of ering the seasonal surpluses, especially in Summer, logical options that take advantage of local resourc-
nol. The production of second generation biofuels
renewable energies, 30% biogas in ducts. for solar energy. It would be possible to couple ERV es make the power matrix more diverse and reliable:
might be very significant in several regions, thus
near the connection point to optimize the utilization bioenergetics of second and third generation, geo-
reducing the consumption of natural gas and other
factor and transportation. The flexibility of the pow- thermal, concentrated solar thermal, offshore wind
fossils from low cost biomass sources and improving
er matrix largely depends on whether variability in power, wave power, power-to-gas. Each and every
the exportable surplus. There are niches that might
International Context relation to the demand curve, and its administration one of them have great potential and contribute
be very competitive in Argentina because of low
is optimized with the decentralization of the genera- significantly to the decarbonization, the flexibility of
Globally, as well as in Argentina, the variable renew- production costs of biomass: exporting maritime or
tion and measures from the consumer’s perspective. the system and the trade balance.
able energies(ERV, as per its acronym in Spanish, en- aviation bunker fuel, with a positive impact on the
ergias renovables variables) today show the lowest trade balance. The synthesis of hydrogen (H2) at low Our panorama presents very high figures as regards In short, it starts with an economy dominated by
costs as regards electricity generation in approved cost to be used in biorefineries may also capitalize jobs generation, like other co-benefits of renew- high subsidies for production and consumption of
sites. Both for wind power and solar power technolo- the ERV power surplus. able energy: regional development, energy safety, fossil fuels, which are the basis of a centralized pow-

94 Cámara Argentina de Energías Renovables Annual Report 2018 95


er system based on such fuels for more than a cen-

tury. Before 2030, it will be required to revert this
scheme to take advantage of the economic, social
• Safety: Resilience in risk
management, optimal combination
of sources; achieve regulatory
Bringing down myths
and environmental benefits of a new decentralized
environment for optimal supply
paradigm in power generation, based on its rational
sources; diversification as a safety
use. The policies and measures seeking to facilitate factor by itself; integration with the As it occurs in other fields and despite its proven benefits, renewable
the incorporation of renewable sources, prioritizing world and the region as reduction
the system flexibility and progressive national in- of risks; proposed indicators; energy also faces questions without scientific basis. Below is a list of
tegration in the necessary investments to minimize tension between self-supply and prejudices and their refutations.
power integration; goal to achieve
costs and external dependence.
consistency within indicators.
• Environmental sustainability:

definition and indicators (GHG he benefits of using renewable sources, prov- Renewable energies do not ensure the pow-
emissions, contaminants, charge
en by experience over the last forty years, have er supply and need backup of other energy
Towards a shared vision of the and recharge of ecosystems.)
been confronted in various media, with no scientific sources.
power transition Argentina 2050 • Efficiency and competence:
basis. Given the evident competitiveness that clean
Regulatory frameworks to incorporate The power systems constituted by renewable en-
The MEyM (Ministry of Energy and Mining) and technologies have reached and their exponential
flexible markets conditions. ergy sources in balance compensate the individual
representatives of institutions that are part of the market penetration, these arguments against the
• Inclusion: Improvement in life variations, so that dispatch takes advantage of the
executive committee of the Platatorma Escensario energy transition have been refined. Argument af-
quality; constant challenge in access system flexibility.
Energéticos(Power Scenario Platform), Fundación because of territorial features of ter arguments, such statements are refuted with the
Avina, ITBA, CEARE-UBA and FARN) presented this Argentina (climate diversity and low publication of a document titled Mitos y Realidades
initiative as part of the national power planning pro- density in rural areas,) affordability (myths and reality.) Renewable sources will never supply the whole
cess. The 22 invited institutions cover a broad the- and equity; indicators (percentage of
participation of the cost of power in demand of humanity.
matic spectrum.
the total basic basket for a 4-members The combination of renewable sources allows the
Renewable energy can only exist if they are
The power transition consists of three main areas: family, coverage of subsidies for
subsidized. satisfaction of all power needs for an indefinite peri-
ensuring the access to power, promote sustainable low-income households, positive and
negative Impacts of projects in the od, as shown in several scenarios of 100% renewable
energy and energy efficiency. Likewise, this transi- The photovoltaic, wind and solar powers are today
life quality of local population, etc.) energy matrixes.
tion is linked to the international agreements (Paris lower cost options in all cases of adequate resources,
Agreement and DS 7 Goals) for the commitment of as evidenced in Argentina.
countries to present long-term strategies for reduc- FIVE DISCUSSION TOPICS
ing emissions, beyond announcements in the Na-
• Diversification of the power matrix
tional Contribution 2030, and it is a work area of the The environmental impact of renewable en-
• Power efficiency ergy is of the same magnitude as those from
G20, under Argentina presidency.
• Technological innovation conventional non-renewable energies from
• Challenges of climate change fossil fuels and even nuclear power.

• Institutions; regulatory Analysis of the life cycle of all the technological op-
frameworks, institutional structures tions carried out by several organizations and rec-
and market mechanisms.
ognized research groups confirm that emissions of
greenhouse gases and local im- pacts of renewable
energies are always much lower than those of fossil
and, in several aspects, have an advantage on the
nuclear energy in the transition.

96 Cámara Argentina de Energías Renovables Annual Report 2018 97

electric plants of the Limay River basin. Due to geo-
graphical distribution, national wind farms have very
low probability of simultaneous non-productive pe-

Wind farms affect the values of real estate,

The development of renewable energy means fragment natural habitats and have an impact
losing millions of jobs. on wildlife, especially on birds.

Studies by Irena confirm that transition to renew- Experience over forty years in the world confirms
able energy sources creates many more jobs than that impacts are much smaller than those of other
those lost. developments where appropriate socio-environ-

mental assessments are completed, which occurs
according to the required regulatory system. There
The low price of natural gas threatens renew- are no cases of concrete hazards to biodiversity or
able sources. decrease of regional real estate values.
Natural gas can compete with renewable sources in
different niches only with several types of subsidies.
Biofuel production requires food that other-
wise would be used for human consumption.
Solar power cannot mitigate the expected It’s been shown that the use of residue and energy
global warming. cultivations is compatible with the sustainable man-
Available solar power would be sufficient on its own agement of agricultural and productive systems in-
to substitute every fossil fuel in the power matrix, tended for human consumption, so the use of bio-
and its penetration is the most favorable of all. fuels may be increased with a very low cost through
proper planning.

A solar device requires too much energy to

be manufactured when comparing it with the
power generated during its life span; solar
power is still very expensive.

The energy produced by the photovoltaic modules

is ten to one hundred times greater than that used
during the manufacturing process. For this reason,
the technology reached lower costs than other

Wind turbines operate only a fraction of the


The capacity factor of wind turbines at suitable sites

is more than 50% greater than that of the hydro-

98 Cámara Argentina de Energías Renovables Annual Report 2018 99

The PPP project in relation to
the Electricity Market
The project is named “Linea de Ex- tenance services; therefore, it will be tion and the future Charlone trans-
tra Alta Tensíon en 500 kV, ET Río necessary to build facilities, accord- former station (besides their expan-
Diamante - Nueva ET Charlone, ing to the conditions in contractual sions.)
Estaciones transformadores y obras documents.
The associated 132 kV lines and the
complementarias en 132 kV.”
The main project consists of the in- linked transformer stations are sup-
The PPP contract is aimed at the terconnection in 500 kV between plementary works.
provision of operational and main- the Rio Diamante transformer sta-
The 500 kV high voltage line be-
tween the Rio Diamante transform-
er station (in the province of Men-
San Jacinto
doza) and the transformer station to
CHACO FORMOSA be built in Coronel Charlone (in the
Monte Gran Formosa

El Bracho
Chaco province in Buenos Aires) will have

Santiago Resistencia
P. Patria Yaciretá
San Isidro
an approximate length of 487 kilo-
Recreo Mercedes
On the other hand, the 132 kV lines
S. Tomé
RÍOS Salto Grande
will have an approximate length
Río Grande Almafuerte
Embalse Arroyo
Río Coronda

C. Elía
of 422 kilometers. The table below
Cabral Rosario San Javier
Medoza SAN LUIS Oeste
URUGUAY shows the approximate lengths of
each of the lines described:
Río Diamante 25 de Mayo Ezeiza Abasto

Olavarría Line Length
NEUQUÉN Puelches
G. Brown
L. La Lata
Bahía Blanca
LAT 132 kV single circuit line
P. Banderita
71 km
Coronel Charlone – Laboulaye
A. Cajón C. Costa Piedrabuena
El Chocón
R. P. Leufú Choel

P. del Águila LAT 132 kV doublé circuit line

Alcurá 78 km
Coronel Charlone – Rufino
Puerto Madryn
LAT 132 kV single circuit line
Coronel Charlone – General 50 km

Santa Cruz Norte
LAT 132 kV single circuit line
Coronel Charlone - General 127 km
LAT 132 kV single circuit line
El Calafate Río Santa Cruz 96 km
La Esperanza Coronel Charlone – Realicó
Río Gallegos
Río Turbio
Total length of LAT 132 kV 422 km

Annual Report 2018 101

Main proposal of the The required total sum will be paid in multiplied by the total sum re- PROJECTION OF POWER GENERATION BY SOURCE TYPE IN 2040
bid documents American dollars through TPI canon quired of canon per TPI. The TPIs
and residual canon: issued during the construction
The PPP contract has a total dura-
• TPI canon (title for investment:) stage will be paid in 24 semestral Possession End of contract
tion of 15 years and, as regards its
fees, starting 6 months after the TPI 1 TPI 2 TPI 3 TPI 4 TPI 5 TPI 6 TPI 7 TPI 8 TPI 9 TPI 10 TPI 11 TPI 12
execution, it is divided in two stages: The PPP contractor is entitled to
scheduled date of commercial au-
receive 90% of the total sum re-
• Construction stage: building thorization.
quired as TPI canon for the execu- Month 0 3 6 9 12 15 18 21 24 27 30 33 36 39 42 45 48 180
works. It begins with the PPP con-
tion of the work, through the TPI • Residual canon:
tract subscription and ends with
canon which shall be acknowl- The PPP contractor will be entitled 1 2 3 4 5 6 7 144
the commercial authorization of
edged in the construction stage to receive 10% of the total sum
the work..
through the emission of one or requested through the residual Payment of residual canon
• Operation and maintenance more TPIs. For the purposes of is- canon which shall be payable in Payment TPI 1 2 24
service provision stage: it begins suance of the TPO corresponding monthly fees from the commercial
with the commercial authoriza- with each period of canon per TPI, authorization of the PPP project,
tion of the work and ends after the contracting entity must have during the stage of operation and Following phases 2,000 km of lines of 500 kV, and Stage I:
15 years from the date of contract maintenance service provision. Río Diamante - Charlone
previously measured and rec- 500 km of 132 kV, with a total in-
subscription; the PPP contractor The projects for expansion of the
ognized the advance of works in vestment estimated in 2,300 million Stages II and III:
will provide these services during power transport system involve the
three consecutive monthly peri- The project will be called for bids dollars. Choele Choel – Puerto Madryn
the period. design, construction, operation and
ods, subscribing the correspond- through a national and internation- Vivoratá – Plomer
maintenance of the power transmis- According to the Public Private
ing acknowledgement records al call for bids, in multiple stages. Plomer – Ezeiza
sion lines; call for bids will be carried Partnership program, the goal is to
The PPP contractor will be entitled of investment advance. The TPI In this stage, bidders will submit Charlone - Plomer
out in stages. As previously stated, call for bids within the next 6 to 9
to receive the total sum required as to be issued for such period will simultaneously their technical and Oscar Smith – ET Belgrano
the first stage comprehends the in- months.
consideration for the construction, equal the sum of the percentage economic offer, which will be subse- Atucha II – ET Belgrano
terconnection Rio Diamante (Men- This information can be found on Rodeo – La Rioja
operation and maintenance of the of progress of works registered quently evaluated.
doza) and Charlone (Buenos Aires) the website of the Secretariat of ET Comodoro Rivadavia 500 kV
work. in the aforementioned records,
and the supplementary works. Public Private Partnership (SPPP.)1
Then, two consecutive packages of
Concept TPI Residual canon
documents will be bid, for a figure
Issuer and payer Electricity Transmission PPP Trust of 9 lines, which reach nearly over PPP

Frequency of issuance Quarterly Monthly

Sum to be issued
90% 10%
(% on the advance of works)
Type of guarantees Upon request
Subject to discount for penalties
No Yes
or sanctions
Currency for payment USD
Frequency of payment Six-monthly Monthly
Day 15 of the month 42 after Day 15 of the immediate month
First payment date
subscription of contract after the commercial authorization
Number of quotas of capital 24 1
Accrual of interest None, except in the case of non-payment
Applicable law Argentina
Do they have public offer? No

102 Cámara Argentina de Energías Renovables Annual Report 2018 103

Glossary List of partners

CAMMESA: Wholesale Electricity HC: Hydrocarbons SAU: Unipersonal Corporations 360 Energy S.A. AMG Energía S.A.
Market Management Company IEA: International Energy Agency SE: State-owned Company
CC: Joint purchases Development of full renewable energy projects, from fi- Commercialization of natural gas and electric power in
IPIM: Wholesale Domestic Prices SPE: Specific Purposes Company
nancial engineering to operation. the industrial sector.
CEM: Clean Energy Ministerial Index SPI: Solar Power International
CND: Declared National IRENA: International Renewable TIR: Domestic Return Rate ABB S.A. AON Risk Service Argentina S.A.
Components Energy Agency
UNFCCC: UN’s Framework Sale of equipment and service for generation and trans- Global leading professional services company that pro-
COP 26: UN’s Convention about ITBA: Instituto Tecnológico de
Convention about Climate Change mission of power from renewable sources. vides solutions for risk, retirement and health.
Climate Change Buenos Aires
URE: Rational use of energy
EB: Pumping Station LAT: High voltage line ABO Wind ARX Arcillex S.A
ECA: Export Credit Agency MATER: Renewable Energy Term
Market Company specialized in developing, construction and Production of expanded klinkerized clay from natural
EPC: Engineering, Procurement and operation of wind and solar projects. clay found in our own fields.
MEM: Wholesale Electricity Market Units of measurement
EPCista: Contractor of the turnkey MEyM: former Ministry of Energy
kV: kilovolt
AES Argentina Generación S.A.  BAF Capital S.A.
facilities and Mining
kW: kilowatt From 1993, one of the key investments in long-term Management of assets, specialized in financial struc-
O&M: Operations and Maintenance
ERV: Variable Renewable Energies business in the national electricity sector. tures according to needs.
MW: Megawatt
PAH: Small hydroelectric plants
ET: Transformer Station
MWh: Megawatt hour
PDI: Interconnection points AESA (Astra Evangelista S.A.) B&B – Comercio Exterior
FC: Capacity factor
TWh: Terawatt hour
PE: Wind farm
FODER: Fund for the Development Argentine firm of engineering, construction, manufac- Complete foreign trade services, developing solutions
USD: US dollars
of Renewable Energies PPA: Power Purchase Agreement ture and service provision, belonging to YPF. for imports and exports.
GENREN: Renewable Energy PPP: Public-private partnerships
Generation Program PS: Solar park
Aggreko Beretta Godoy
GHI: Global horizontal irradiance PSFV: Photovoltaic solar park Solutions for energy generation and cooling of process- Law firm with strong practice in natural resources and
GSC: Global Solar Council Pymes: Small and medium es, present in Argentina for 10 years. renewable energy.
GU: Large User
ALCAAL Renovables S.R.L. Bertotto–Boglione
REN21: Network of policies of
GUDI: Large Distribution User
Renewable Energies
GUH: Large Authorized Users
Sustainable development of renewable energies projects, Firm that supplies turnkey wind towers and biogas
RENPER: National Registry of competitives and with minimum environmental impact. plants, with almost 70 years in the country.
GUMA: Major Large Users Renewable Energy Projects
GUME: Minor Large Users SA: Corporations
Aldar S.A. Bioeléctrica S.A.
GUPA: Large Particular Users SADI: Argentine Interconnection Reference solar photovoltaic energy company in Argen- Firm innovating to add value, transforming biomass and
GWEC: Global Wind Energy Council System tina, with over 25 years of experience. environmental liabilities into renewable energy.

104 Cámara Argentina de Energías Renovables Annual Report 2018 105

Cargill S.A.C.I. Distrocuyo S.A. Enercon Argentina S.R.L. FUNCKE Maritime S.A.
Agroindustrial company, specialized in producing, pro- Electric energy transport, works and services providing Leading company in design, production, installation and Logistics firm providing sea, river and land ransport,
cessing and commercializing cereals and oilseeds. company. maintenance service of wind turbines. with fiscal deposit.

C&F S.R.L. – Gestión Responsable Dimach Energy Friendly Solutions S.A. Siemens Gamesa
del Comercio Exterior Argentine firm of green friendly solutions, focused in Design, production and installation of wind turbines and
Company commited to proving consulting and energy
Foreign trade company specializing in renewable ener- solar energy for homes, fields and industry. advanced services solutions in 90 countries.
solutions through renewable sources.
gy, project load and telecommunications.
ENGIE Gas Natural Fenosa
EACE – Estudio Aduanero y
Centro Regional de Energía Eólica
Comercio Exterior S.A. World leader in natural gas, power and energy services, Leading company in gas distribution in Spain and Latin present in Argentina since 1992.
Intitute researching, developing and consulting matters America; provision of energy for industries.
Foreign trade firm since 1973, based in reliability, trans-
of wind power.
parency and professionalism.. Epuvisión S.A. GEA Biodiesel S.A.
CIMET S.A. Indelqui S.A. Optel S.A. Eastel S.A.C.I. Firm of Grupo Epuyen, focused in the production and Investment project in biodiesel, trader in biofuels and
Company producing electrical conductors for energy and distribution of optical fiber for renewable energy. glycerin.
telecommunications, with over 65 years of expertise. Argentine firm with international presence, integrating
the latest technological solutions. Estudio Beccar Varela Genneia  (ex Emgasud)
Clever Argentina S.A. Ecopreneur Leading law firm from 1987, provider of complete con- Leader in supply of cutting-edge power solutions in re-
Company specialized in global managemente of suppli- sulting to companies, including renewable energy. newable energy projects.
ers and contractors. Environmental solutions in managemente and treat-
ment of water and effluents, biogas and oil and gas. Grenergy renovables
Coordinación Ecológica Área
Metropolitana Sociedad del Estado EDVSA Producer of independent energy; design, development and construction of renewable energy plants on a large
Company responsible for the integrated management Engineering, construction, operation and maintenance. scale.
of solid urban waste in the metropolitan area. Integrated solutions in industrial projects.
Grupo IFES
Compañía Inversora de Energía  EME S.A. - Empresa Mendocina Research, engineering and construction company, spe-
de Energía S.A. Estudio O’Farrell
Commercializer of natural gas, transported capacity and cialized in bioenergy.
services related to energy..
Administration of energy assets in Mendoza, seeking to Law firm with the longest experience in Ar-
Grupo Newsan
maximize social and economic income. gentina, with over a century of expertise in
Coral Energía
all legal corporation matters and leaders in Development of business in renewable energies, fo-
Company aimed at developing a 100% sustainable fu-
Emede Electric S.A. energy law.
cused in solar and wind projects.
ture, with over 15 years of experience.
Provision of EATON electrical distribution products and Phone number: +54 11 4346-1000
Halliburton Argentina S.R.L.
CORADIR S.A. services for engineering and energy companies. World-leading company in the petrol and gas industry
Development of electronic and computer equipment, Emprendimientos Energéticos products and services.
software, internet services and systems integration. y Desarrollos S.A. Field Fare Renewables HISSUMA SOLAR
CORSALMI S.A. Leading company in the development and com- Leading company in the development, construction and
Patagonian agricultural enterprise with wind areas un- mercialization of renewable energy projects in Latin operation of solar plants oriented to become an IPP in Leading company in thermal solar systems, developing
der development. America. Latin America. products for the manufacturing of solar panels.

106 Cámara Argentina de Energías Renovables Annual Report 2018 107

HTI CONO SUR S.A. MACON Solar – Máquinas Neoen Argentina S.A. y Consumibles S.A.
Leading company in the provision of aluminum trailers First exclusive independent producer of renewable en-
and equipment for the power industry. Hardware provision company for photovoltaic solar fa- ergy in France and one of the first worldwide.
cilities, with over 35 years of experience.
Hychico S.A. Neoconsult S.R.L. McCain Argentina S.A.
Development of wind and photovoltaic parks and use of Engineering consultancy focused on the development
hydrogen as a power vector. Isotron S.A. Canadian origin multinational company, whose main of renewable energy projects, specially dry biomass.
production involves frozen pre-fried chips.
IDERO – Ideas en Acero Engineering, construction and mainte- NEU Ingeniería nance of power plants, solar and wind
MC & C Asesores Impositivos
Leading company in engineering, manufacturingand as- farms, as EPC contractors, executing BoP Engineering services, projects, consultancy, electrical
sembly of metal structures for photovoltaic parks. or building connection structures. and environmental studies, works and services.
Complete consulting in legal, accounting and financial
matters, specialists in tax issues.
Inctrad Argentina S.A. (INCAICA) Phone number: +54 9 11 5031 0698/9 Nordex (Chile) SpA
Customized solutions for clientes seeking to invest in
Marsh Argentina Firm with experience in design, construction and opera-
the power market in Latin America. tion of solar farms, providing over 18 gW of power.
IVANAR S.A. Leading firm in insurances consulting and risk manage-
Industrias Juan F. Secco S.A. ment, with large presence in Argentina. NRG Río de la Plata S.R.L. Commercialization of steel products and services for
Company exploring renewable energy, designin, install- construction, agriculture and industry with more than MetroGAS S.A. Development of photovoltaic solar plants, energy stor-
ing and operating biogas plants. 50 years of experience. age systems and biomass plants and biogas.
Public services company, the largest distributor of natu-
Ingener Argentina S.A. KPMG  ral gas and derivatives in Argentina. Nutribras S.A. 
Expert firm in engineering for energy and industry, EPC- Company specialized in professional consulting services, Mitsubishi Argentina S.A.C. y R. Especialistas en instalación de sistemas fotovoltaicos y
type contract services and experience in O&M. auditing and taxation. productos solares inteligentes.
International corporation with over 50 years in the pow-
INFA Latin American Wind Energy Association er market of Argentina. On. Networking Business
Company focused in engineering, construction and in- Development of the wind industry at the regional level. Specialists in energy efficiency and renewable energy,
Motores Czerweny S.A.
dustrial assembly, belonging to the group Fate-Aluar. development and import of complete projects.
Latinoamericana de Energías
Engines and pumps manufacturing company with a
INTA Renovables S.A. Olympic
specialized line in renewable energy.
The National Institute of Agricultural Technology has a Development of renewable energy projects, mainly fo- Appliances and electronic products firm, adding renew-
cused in Argentina, Colombia and Chile. Moto Mecánica Argentina S.A.
National Bioenergy Program. able energies products, from wind and solar power.
Ledesma Renovables Leading company in engineering, design and execution
Ing. Héctor J. Resino S.R.L. (SOLINERG) Orazul Energy Southern Cone S.R.L.  of renewable energy projects.
Import and sale of batteries for solar and wind power, Renewable projects company, specialized in photovolta- Leading company in electricy generation, developing,
cars, motorcycles, boats, golf carts. ic solar energy in Argentina, controlled by Ledesma SAAI. MTU Detroit Diesel Allison operating and mainteining renewable power plants.
Argentina S.A.
Lipsia S.A. Pan American Energy Official distributor of MTU Friedrichshafen, leader in
Commercialization and production of wood pellets and power generation from gas and biogas. Company focused in the energy industry in Latin Ameri-
installation of pellets thermal power plants. ca, including thermal and wind power generation.

108 Cámara Argentina de Energías Renovables Annual Report 2018 109

Peisa SGS Argentina S.A. Tecnored VASA – Vidriería Argentina S.A.
Industrial products and conditioning solutions Argenti- World leader in inspection, verification, analysis and cer- Engineering and construction in biogas, gasification, Leader in glass solutions for generation and energy sav-
na company, with innovation and high quality. tification referring to quality and integrity. natural gas, CNG, electricity, water and effluents. ings, and manufacturer of flat glass (float).

Proyesco S.A. Sidersa Renovables S.A. TG2 S.R.L Wärtsilä Argentina
Service providing company, from basic engineering to Company focused in the production of wind towers and Engineering services, execution of civil works, electrome- Finnish company, leader in the market of descentralized
commissioning, focused in turnkey works. structures for solar panels. chanical, electric and telecommunications installations. electricity generation.

Proyección Electroluz S.R.L. Siemens Power Generation TEL3 S.A. Weg Equipamientos Eléctricos S.A.
Comprehensive electrical solutions company with 55 Provider of technology for generation, transport and From 1995, this company develops its activity in the field Global solutions in electric machines and automatiza-
years in the business, with manufacturing, engineering distribution of energy infrastructure. of the large enery projects and telecommunications. tion for industry and power systems.
and assembly.
Sigla S.A. UONIC S.A.
Quark Engineering SAS Consulting firm specialized in studies and energy proj- Integrated renewable energy company, from develop-
Civil engineering, water and energy projects, with tech- ects, including renewable sources and energy efficiency. ment to electricity generation.
nical and executive management and works.
SIMM Soluciones S.A.
Rosario Bioenergy S.A. Full response for assembly, engineering and consultan-
Production of biodiesel from agricultural raw materials cy in wind and solar energy.
and recycled vegetable oils.
Sinec S.A.
Roverano y Cía. Company focused in providing consultancy services, engi-
First battery factory in Argentina, with model highly neering, works and inspections, and assistance in the field.
equipped facilities and comprehensive service.
Sistemas Energéticos S.A.
ROWING S.A. Solutions for practical problems in the supply of electric
Company with extensive know how and experience in en- energy from renewable, hybrid and thermal sources.
gineering, construction, assembly and industrial services.
Solar Latam
SAPA Aluminium Argentina Engineering, financing, installation, operation and main-
Production and sale of extruded alluminium profile for tenance of solar power plants for several sectors.
metal structures and industrial application.
Solflix S.A.
SENVION Argentina S.A.U. Expert firm in telecommunications infrastructure, con-
Pioneer in wind power in the German industry; devel- ventional, photovoltaic and wind powers.
opment, production and commercializes wind turbines.
Stantec Argentina S.A.
Servicom Group S.A. Company that comprehends from start and initial plan-
Comprehensive services company for foreign trade, cer- ning of the project through design, construction and
tified to ISO 9001: 2015 Bureau Veritas. commissioning.

110 Cámara Argentina de Energías Renovables Annual Report 2018 111


General coordination
María Florencia Hoffmann

Edition and proofreading

Alejandra Groba

English translation
Laura Pagnini

Marcelo Álvarez Julio Menéndez
Florencia Balestro Alejandro Montaña
Pablo Caviedes MAIZAR 
Juan Córdoba Roque Pedace
Carlos Cueva Horacio Pinasco
Francisco Della Vecchia  Germán Pinasco
Sonia de Sales-Lisboa Gustavo Roldán
Germán Di Bella Agustín Siboldi
Omar Díaz Ramiro Vassallo
Viviana Gutterman Guillermina Vidal

Operative management
María Florencia Castagnani – Susana Schaeffer

Estudio Massolo – Fabio Massolo / Analía Tejeiro


Av. Independencia 3918, CABA

Pictures in this annual report were provided by CADER

partners o taken from photo banks.

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