November 30 (Renewables Now) - Verano Capital said today it has secured a 100-MW solar project in Argentina's renewables tender, whose results were announced on Wednesday.
The project, called VeCaSo-1, is located in Mendoza and is expected to start generating power under a 20-year power purchase agreement (PPA) in 2019.
Verano, a Chile-based project developer, bid USD 42.50 (EUR 35.9) per MWh to secure the project. The average winning solar bid in the RenovAR 2 tender was USD 43.46/MWh.
The announcement comes shortly after Verano, whose business model is to offer services to investment funds, scored success in Chile's tender for a 47-MW solar project.
"We have a growing pipeline of projects with more than 450 MW in Argentina alone, and hope to replicate our efforts in this project in the future," said Ramiro Marquesini, Verano Capital country manager in Argentina.
(USD 1 = EUR 0.845)