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Financing the construction of the Altiplano 200 solar power plant in Argentina
Project
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Signature date
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Location
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Argentina
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Financing tool
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Financing amount (Euro)
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44002464
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Financing details
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USD 50m loan
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Customer
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La PUNA SOLAR SRL / Altiplano Solar SA
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Type of customer
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Company
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Country of headquarters
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Argentina
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Project number
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PAR1009
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Environmental and social ranking
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B+
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Climate co-benefits
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Project with climate co-benefits
This information is given at the time of signature, without prejudice to any developments in the operation/project.
This financing will support Argentina’s ambitious climate commitments, as this solar park will supply some 600 GWh of green electricity every year and will thereby contribute to diversifying the country’s energy mix.
Client presentation
Neoen is a French developer which Proparco has already worked with on several solar projects, including Providencia Solar and Capella Solar in El Salvador and EREC in Jamaica.
Project description
The loan is contributing to financing the construction of the Altiplano 200 solar power plant with a capacity of 208 MWc. It is located in the northwest of Salta province in Argentina.
This solar park is the result of the merger of the La Puna and Altiplano projects, which each have a 20-year PPA allocated in the context of the RenovAr program, a cycle of bid invitations aiming at providing Argentina with a 10 GW renewable energy capacity by the end of 2025.
Project impact
The solar power plant will supply some 600 GWh of green electricity every year and will thereby contribute to diversifying the country’s energy mix, which is currently mainly thermal.
The project is thereby contributing to the achievement of Argentina’s ambitious objectives for renewable energies (20% of the mix by 2025, against 2% today) and is participating in maintaining a sustainable reliability and security of power generation.
In terms of the climate, the project will avoid the emission of 284,000 tons of CO² a year, i.e. 4.8M tons of CO² throughout the lifespan of the project.
The project will also have an impact on the country’s economic development, with over 2,200 indirect, induced or second-rate jobs created or maintained.