Market Size of Argentina Renewable Energy Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 13.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Argentina Renewable Energy Market Analysis
The Argentina renewable energy market is expected to grow at a CAGR of more than 13% during the forecast period. Factors such as the Public Private Partnership (PPP) law, to regulate and encourage private investments in the critical sectors of the country's economy, including 60 projects which are expected to be implemented under the PPP mode, primarily across major infrastructure and social sectors, including energy and transport are expected to drive the renewable energy market during the forecast period. However, due to fiscal deficit and lack of finance, the government could not invest sufficiently in the renewable sector, in order to increase domestic generation capacity. This, in turn, is expected to restrain the growth of the market studied.
- Hydro energy segment is expected to be the largest segment, owing to significant increase in number of projects and being the second largest source of power generation in Argentina. It also has the largest installed capacity in comparison to wind and solar energy in 2019.
- In June 2019, the Argentinian Finance Ministry's Energy Secretary received 56 bids for the MiniRen or Round 3 of the RenovAr program. These bids represent a total of USD 520 million worth of investment, which is expected to be distributed in 14 provinces, hence creating ample opportunities for the renewable energy market players.
- RenovAr program was initiated by the Argentina government to improve the share of renewable energy in its energy mix to 20% by 2025. Under the RenovAr program, regular public bidding processes were held, in which, different companies presented their investment plans. Hence, a major driver for the Argentina renewable energy market is expected to be the RenovAr program during the forecast period.
