US outfit Verano Capital has won the right to develop the 100MW VeCaSo 1 solar project in Argentina in the South American country’s latest energy auction.
The project, located near Mendoza, won with a bid of $42.50 per megawatt-hour. The initiative is due for completion in 2019 and has a 20-year take-or-pay power purchase agreement.
Verano Capital Argentina country manager Ramiro Marquesini said: “We are very pleased that our bid was able to meet the demanding qualification criteria of this second round of tender.
“We are taking pride in delivering a very sound project, in terms of economics and prices of course, but also mindful of the Argentinian people and economy with the inclusion of local content sourcing.”
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