After being awarded two new farms, investments are projected in the amount of 200 million dollars. The company will become the first company to exceed 1 GW of renewable installed capacity.
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Buenos Aires, April 11, 2022. In the latest tender process of the Renewable Energy Term Market (Mercado a Término de Energías Renovables, MATER), Genneia secured priority in dispatch from two additional farms. Hence, the company grew stronger as the unquestioned leader in renewable energies and adds up 163.5 MW to its portfolio of clean energies.
The two newly announced projects are the Tocota III solar farm, with an installed capacity of 60 MW, located in the Province of San Juan; and La Elbita wind farm, with an installed capacity of 103.5 MW, located in the City of Tandil, Province of de Buenos Aires. In this way, Genneia, which is already operating 866 MW wind and solar projects and in the process of building the new solar project Sierras de Ullum in San Juan, with an additional capacity of 80 MW, will achieve more than 1100 MW of renewable installed capacity, i.e. an unprecedented milestone in our country.
In order to continue growing in terms of market share and projection of renewable energies in the Argentine energy matrix, the company has already invested 1.2 billion dollars in 5 years in renewable projects, now adding additional investments in the amount of 200 million dollars for development of La Elbita and Tocota III projects.
“We are very proud of our continued leadership in the Argentine renewable market and the fact that solar and wind energies are gaining ground in the energy matrix. The awards for La Elbita and Tocota represent new investments, more jobs for Argentine people, and increased saving in net foreign currency for the country. Through commitment and innovation, we continue cooperating for Argentina to be able to meet its decarbonization energy transition goals,” said Bernardo Andrews, Genneia CEO.
In this line, Genneia will have an installed capacity in excess of 1 GW, consisting of 222 MW of solar energy and 887.5 MW of wind energy, distributed over 11 farms countrywide. Hence, it becomes established as the number 1 company in generation of renewable energies, and as a role model in a corporate market that is becoming more and more competitive and has become the main pillar for growth in the industry.
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