April 12 (Renewables Now) - French power producer Neoen SAS has signed a letter of intent (LoI) with the government of Argentina's province of Tucuman to develop a 200-MW solar project.
Planned for land owned by an indigenous community in the Amaicha del Valle region, the photovoltaic (PV) plant will represent an investment of some USD 250 million (EUR 235.8m), the local government said on Tuesday. The PV facility, which is Neoen's first project in the country, requires several more steps until it can leave the paper, which the company estimate will happen in a year, Neoen's legal representative in Argentina, Hugo Martinez, pointed out.
With this scheme, Tucuman's minister of Productive Development, Juan Luis Fernandez believes that the province can turn into a strong exporter of energy for the whole country.
Neoen has signed another LoI, this time with the chief of the indigenous community, Eduardo Nieva, to evaluate the project.
(USD 1 = 0.943)