March 20th, 2017 by Saurabh Mahapatra 
In a major boost to renewable energy project developers active in Argentina, the World Bank has announced loan guarantees for several upcoming projects.
The World Bank has announced loan guarantees worth $480 million for renewable energy projects under Argentina’s RenovAr program. The government has auctioned 59 renewable energy projects under the RenovAr program so far. Of these, 27 projects had asked for guarantees from the World Bank.
The projects likely to receive loan guarantees will include 10 solar projects with 306 megawatts of capacity, 12 wind energy projects of 712 megawatts, four hydro power projects of 4 megawatts, and one biogas project of 1 megawatt capacity.
Argentina received a massive response for its first renewable energy auction. A total of 1,000 megawatts in capacity was scheduled to be allocated during the auction. Prospective developers, however, submitted bids to develop 6,366 megawatts of capacity.
A total …