YPF Luz, a state-owned utility in Argentina, has taken a significant step towards expanding the country's renewable energy sector with the commissioning of its first solar park. The 100MW ‘Zonda' solar PV farm, located in the province of San Juan, has the capacity to add a further 200MW in 100MW increments in the future, according to YPF Luz. The solar park is equipped with over 170,000 bifacial solar panels and has a factor capacity of 36%.
The project, which is part of an agreement between YPF Luz and the Provincial Energy Company of the State (EPSE), required a US$90 million investment, funded by a US$63.9 million green bond, and financed by Argentina's national social security administration (ANSES).
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Although solar PV capacity in Argentina remains modest compared to neighbouring countries, such as Brazil and Chile, YPF Luz's latest project marks an important milestone for the country. According to energy think tank Ember, Argentina's installed solar PV capacity was just over 1GW at the end of 2021. Most of this capacity comes from the province of San Juan, where YPF Luz built the Zonda solar park. Sergio Uñac, Governor of San Juan, stated that the province has 410MW of solar PV installed.
Commenting on the project, Martin Mandarano, CEO of YPF Luz, said: “We are very proud to have completed our first solar park in the country. This is a significant milestone for YPF Luz and for the expansion of renewable energy in Argentina. We look forward to continuing our work with EPSE and other partners to build a sustainable and reliable energy sector in the country.”
As part of its commitment to sustainability, YPF Luz plans to invest US$2.3 billion in renewable energy projects by 2025, including wind and solar power. The company aims to have a total installed capacity of 2GW in renewable energy by that time.
The commissioning of YPF Luz's Zonda solar park highlights the growing momentum behind Argentina's renewable energy sector. As the country looks to reduce its reliance on fossil fuels and meet its climate commitments, investments in renewable energy will play a crucial role in driving sustainable economic growth.
