Montevideo, Uruguay (ViaNews) – From December 4th to 7th, the “Energy Week” took place in the city of Buenos Aires, Argentina.

It´s an event organized by the Latin American Energy Organization (OLADE), the Government of Argentina through the Ministry of Energy and Mining, and the Inter-American Development Bank (IDB).

The distinguished Convention Center of the Alvear Icon Hotel serves as home for specialists from international organizations, speakers, and investors to exchange experiences and discuss the integration of the energy sector at a sub-regional and regional level.

The XLVII edition of the “Council of Experts and Meeting of Ministers” had the presence of the energy ministers from the countries members of the OLADE in Latin America and the Caribbean. The principal objective of the meeting held once a year is to formulate dialogue on policies and strategies for the energy sector.

Delegations from Argentina, Belize, Bolivia, Chile, Colombia, Costa Rica, Guatemala, Honduras, Panamá, Paraguay, Dominican Republic, Trinidad and Tobago, and Uruguay have already confirmed their attendance.

Among the speakers scheduled to talk at the Energy Week were: Mr. Ariel Yépez-García, Head of the Energy Division at the Inter-American Development Bank (IDB), Mr. Paul Simons, Deputy Executive Director – International Energy Agency (IEA), Mr. Juan José Aranguren, Minister of Energy of Argentina, Alfonso Blanco, Executive Secretary of the Latin American Energy Organization – OLADE and Mr. H.E. Adnan Z. Amin, Director General-International Renewable Energy Agency (IRENA).

Last November 30th, the Argentinian Senate has approved a new law on “Distributed Generation of Renewable Energies” integrated to the public electric network.

The law allows residential, commercial and industrial users to pour back to the network, clean, self-generated energy by creating initiatives to selling the excedent energy they might produce.
The renewable energy might be generated through photovoltaic systems, low power wind turbines, mini-hydroelectric turbines, biogas and biomass systems, among others.

It´s a major step towards the diversification of the country’s energy matrix. Back in 2015, the law 27.191 established that the Renewable Energy sector should be generating 20% of all the energy produced in the country by 2025.

Loma Blanca IV Wind Farm. Photo by: Federico Lopez.
Loma Blanca IV Wind Farm. Photo by: Federico Lopez.

Currently, the renewable energy sector is responsible for 2% of the energy matrix (34% is represented by Petroleum), a fact not gone unnoticed by foreign investors willing to invest in the sector in Argentina.

According to reports from the Ministry of Energy, the interest of local and international investors in the industry is estimated to amount to three thousand million American dollars to be invested in the sector over the coming years.

The Ministry of Energy through the “RenovAR” platform, granted projects to produce 665.8 megawatts in wind energy, 556.8 megawatts in solar energy, 117.2 megawatts in biomass and 48.1 megawatts in biogas, in a tender corresponding to the second phase of the RenovAr program.

By October 31th (expiring date set to subscribe) more than 320 companies have registered in the “Registry of Companies and Suppliers of the Renewable Energy Market”.

The new law also establishes that all building constructions should look at an energy distribution system from a renewable energy source which best suits it in alliance to its location. An environmental impact study must be done whether required.

Via News TV