Construction works begin at 117 MW Argentinian solar PV project

Scatec Solar and Equinor have started construction of the Guanizuil IIA solar plant located in the Province of San Juan in the northwest of Argentina utilising the agreed Equinor bridge loan facility. Late November 2018, the partners signed the 20-year power purchase agreement (PPA) for delivery of electricity from the 117 MW solar power plant with CAMMESA, the Argentinian Wholesale Power Market Administrator. This is in line with the project announcement made 19 June 2018.

Total capital expenditure to realise the plant is estimated at US$103 million and the plant will be owned 50% by Scatec Solar and 50% by Equinor. The power plant is expected to produce about 308,000 MWh of electricity annually providing electricity to 80,000 households.

Scatec Solar will be project lead in a jointly owned construction company while Equinor will provide a construction bridge loan covering 60% of the capex required for the project. The project company will source all major components to the project directly. The partners have started a process to secure suitable long-term project financing to the project.