Argentina Taps Into Its Renewable Energy Potential

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Argentina has some of Latin America’s most abundant renewable-energy resources. Yet less than 2 percent of the country’s electricity comes from renewable energy. Argentina’s government is moving swiftly to change that, setting a target to produce 20 percent of its electricity from renewable sources by 2025. The government reached out to IFC and other development institutions for support in creating a new market for private investment in renewable energy. The World Bank provided $480 million in guarantees to reduce financial risks for investors. IFC helped organize a renewable-energy auction, including setting up the process to attract international bidders. The auctions are expected to usher in $3.5 billion in financing over the next two years. #IFCCreatingMarkets Video by Stephan Bachenheimer.

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