GENNEIA and PAN AMERICAN ENERGY (PAE) reached an agreement for the joint development of two wind power generation projects near the City of Puerto Madryn, Chubut province, called Chubut Norte III and IV.
Both parks, currently under construction and awarded in Round 2 of the RenovAr Program, will have a capacity of 140 MW produced by 32 Nordex wind turbines that will be connected to the Argentine Interconnection System (SADI) starting in the second quarter of 2020.
GENNEIA will be the operating company and will provide management services during the construction phase.
Marcos Bulgheroni , CEO of Pan American Energy, stated that "this agreement allows us to continue growing in the renewable energy sector and prioritize the regions close to our operations, particularly the province of Chubut.
For Jorge Pablo Brito , Chairman of the Board of Directors of Genneia, the alliance with "the country's leading integrated private energy company, Pan American Energy, is a step forward in consolidating our renewable energy generation strategy, strengthening our leadership position in this sector with greater financial and operational solidity.
This agreement, whose implementation is planned for August 2019, seeks to create new opportunities to continue supporting the consolidation and development of the energy industry in Argentina.
The energy generated by these parks is equivalent to the consumption of more than 197,000 homes, significantly reducing carbon dioxide emissions into the environment.
The projects involve an estimated investment of US$190 million and will be financed by the KfW bank, with a guarantee from the German agency Hermes.