Argentine President Javier Milei announced a package of 90 economic measures that include changes to the renewable energy sector. The information was released by the Argentine government. Among the main instruments is the RIGI (Large Investment Incentive Regime), presented as a mechanism to attract foreign and domestic capital.
According to the official statement, the first project approved under the regime was the El Quemado solar park, with an installed capacity of 305 MW, developed by YPF Luz, with an estimated investment of US$211 million. The program provides regulatory stability, tax incentives, and easier access to foreign currency for up to 30 years.
Deregulation of the electricity market
The reforms include changes to the operation of the wholesale market managed by CAMMESA. The new model allows large consumers to enter into direct contracts with private generators, including renewable energy producers, reducing state intermediation.
Another measure involves private concessions for the expansion of transmission infrastructure, with full financing from the private sector, aiming to reduce connectivity bottlenecks that limited the entry of new wind and solar projects into the system.
Energy storage at critical points
The national government has also launched a call for proposals to incorporate BESS (small modular reactors) plants in critical nodes of NOA, NEA, Centro, Litoral, Cuyo, and Buenos Aires (excluding AMBA), according to a statement from the Energy Secretariat of the Ministry of Economy. The initiative seeks to strengthen the reliability of SADI (small modular reactors) and reduce interruptions, especially during peak demand periods.
The target capacity is set at 700 MW, with an estimated investment of US$700 million. The project will allow for greater dispatch flexibility, increased reserves, and a rapid response to demand fluctuations, improving operational security. CAMMESA will be responsible for the implementation procedure.
The program is based on the precedent of the ALMA-GBA Project in the Buenos Aires Metropolitan Area, which exceeded its initial target of 713 MW, receiving proposals from 15 companies with 27 submitted projects, totaling 1.347 MW and an investment of over US$540 million.
Technology and nuclear plan
The government also announced "Project Stargate," which envisions a hub of artificial intelligence data centers in Patagonia, powered primarily by renewable energy, in partnership with OpenAI.
Simultaneously, the Argentine Nuclear Plan was launched, aimed at developing SMRs (small modular reactors) to guarantee a stable energy supply to technological and industrial centers.
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