BUENOS AIRES, May 12 (Reuters) - Argentina’s Pampa Energia SA said on Thursday it planned to invest $400 million in thermal and wind energy projects if it wins a tender process for renewable power projects that the government will hold next week.
In April, the government of business-friendly President Mauricio Macri implemented a law mandating that renewable energy as a share of power consumption rise to 8 percent by 2018 from 1.8 percent currently.
“In thermal and wind energy it is an investment of 400 million between both of them,” said Pampa Energia head Marcelo Mindlin.
The energy projects are expected to total 320 megawatts in installed capacity.
Pampa Energia plans to invest between $100 million and $120 million in a thermal energy project in the Neuquen province and a total of $300 million in two wind energy projects in the south of the Buenos Aires province.
Argentina will hold a tender next week for 1,000 megawatts of renewable energy, part of the plan to install 10,000 megawatts of new cleaner power capacity by 2025, Energy Minister Juan Jose Aranguren said on Thursday. He expects investment of some $2.1 billion for the first phase. (Reporting by Nicolas Misculin; Writing by Anthony Esposito; Editing by Sandra Maler)