Private Investment Corporation Abroad (OPIC, its abbreviation in English) will sign a letter this afternoon with the intention of declaring Genneia, the largest renewable energy company in Argentina, to finance the construction of five solar and wind projects in the country. The authorities of the North American organization reporting directly to the administration under President Donald Trump, who will come to Argentina in the coming hours to attend the G20 summit in Buenos Aires, this afternoon sign an agreement with the leaders of Genneia at the San Martin Palace, according to this source of government exclusively.
OPIC aims to finance the installation of solar farms Ullum 1,2 and 3, awarded to Gennei in the 1.5 round RenovAr, and the large Chubut Norte 3 and 4 wind turbines, which were provided in the 2nd round of the same programThese new projects will be co-financed with developers in Germany. This is the first time in almost ten years when OPIC chose to support the financial engineering of productive projects in Argentina.
The Ullum complex consists of three solar parks at 80 megawatts (MW), which will require an investment of nearly $ 80 million. On the other hand, Chubut Norte 3 and 4 projects will contribute 140 MW to a $ 200 million pay-as-you-go system, "The total investment is estimated to be OPIC will finance more than $ 100 million"He said EconoJournal a government official who knew the operation.
OPIC is the US government agency. which attracts investment from US companies in emerging markets. It was created in 1971 and in practice provides risk management tools related to foreign direct investment.
Signing intent with Genneis is the previous step towards a formal commitment to funding. To this end, the OPIC will carry out an exhaustive analysis of the projects in order to evaluate them according to technical and economic standards.