Argentina Solar PV Status and Market Outlook

Solar PV Status and Market Outlook RENEWABLE ENERGY IN ARGENTINA

SolarPlaza Webminar, December 1, 2016

Mauro G. Soares National Director for Renewable Energy

TODAY´S CHAT POINTS

• WHO WE ARE AND WHAT WE DO • WHERE WE ARE HEADING TO • OUR REGULATORY AND CONTRACTUAL FRAMEWORK • WHAT WE HAVE DONE THIS YEAR • WHAT´S IN STORE FROM NOW ON

UNDERSECRETARIAT OF RENEWABLE ENERGY

• Designs and implements regulation that enables the achievement of the country´s renewable energy legal mandates

• Reviews, assesses and follows up on renewable energy investment projects at a national level

• Conducts National and International Cooperation actions in the area of renewable energy development

• Conducts technical, economic and regulatory analysis for the sub-sector

NATIONAL OFFICE OF RENEWABLE ENERGY NATIONAL OFFICE OF RENEWABLE ENERGY PROMOTION

• Promotes the use and integration of different renewable energy sources to the national energy mix.

• Sets guidelines and manages promotion, scientific and technological research programs, as well as technical studies and resources inventory efforts.

• Designs and implements regulation for the distributed renewable energy market.

WHO WE ARE AND WHAT WE DO Ministry of Energy and Mining

Secretariat of Electric Power

% o

f the

tota

l pow

er d

eman

d

WHERE WE ARE HEADING TO RENEWABLE ENERGY NATIONAL TARGETS 2018-2025

Existing 0.8 GW 1.8%

3 GW 10 GW

RenovAr Round 1.0 1.1 GW 2.7% RenovAr Round 1.5 1.2 GW 3.0% Legacy Contracts (R202) 0.5 GW 1.5%

Existing +

Actions 2016

9 %

Note: Percentage of RE in total demand calculated using P75 generation estimates and 2018 projected demand.

WHERE WE ARE HEADING TO

Renewables

Transmission

Hydroelectricity

Nuclear

Thermoelectricity

15.0

5.0

10.2

6.0

4.8

2017-2015 Planned Capital Investment in the Power Sector (in billion USD)

+10 GW

+3 GW

+6 GW

+1 GW

>5k km

Demand 2015 135 TWh Demand 2025 170 TWh

15 Bill USD

RENEWABLE ENERGY IN ARGENTINA

NATIONAL LEGAL FRAMEWORK FOR RENEWABLE ELECTRICITY (Law N° 27191)

Mandatory Targets 8% @ 2017-18 16% @ 2021 20% @ 2025

Resource Diversification Geographical and Technological

Generous Fiscal Incentives Applicable to IPPs and Local Manufacturers

FODER Public Trust Fund for Guarantees and Financing

New Utility-Scale RE Framework Law 27191

THE NEW REGULATORY FRAMEWORK

Law 27.191 Senate 4Q’14 (94% positive vote) Lower Chamber 4Q’15 (93% positive vote)

Decrees 531 y 882 Presidential Decree 1S ’16

Res. 71, 72, 123, 1/E, 136, 252 Resolutions of the Ministry of Energy and Mining 1S’ & 2S’16

RenovAr Rounds 1 & 1.5 CAMMESA 2S’16

RENEWABLE ENERGY PROGRAM 2016-2025 Regulatory Framework Elements

Incentives implementation rules and Call for Tenders RfP

National Law

High-level Regulation

Call for Tenders implementation

100% of RE Mandate

PPAs Tenders (instructed by MINEM)

Private PPAs for Large Users

Self Generation

100% of the 300 kW-or-less demand and Large Users who do not opt-out. Price determined through Tenders

Large Users (>300 kW) who exercise their right to opt-out and purchase directly from IPPs and/or traders, or self-generate their mandated quota. Annual Goals subject to penalties. Price and other T&Cs freely negotiated.

Opt

-Out

O

pt-O

ut

RENEWABLE ENERGY MARKETS 3 Contracting Mechanisms

GUARANTEE

CONTRACTS

RenovAr CONTRACTUAL FRAMEWORK 2 Contracts 3 Levels of Guarantees

Energy Payment

FODER Guarantee 1 Sovereign

Guarantee

Termination Payment 1

2 World Bank Guarantee

Termination Payment 2

3

Power Purchase Agreement 1 FODER

Trust Adhesion Agreement 2 Energy Sales Energy Payment and Early Termination Guarantees

(*) To replenish FODER so that it always holds 12 months worth of eligible PPA payments as liquid reserve (#) CAMMESA coordinates efforts with FODER on a monthly basis in order to ensure that all payments are covered in full on due date

Payments

Physical Flow

Guarantees

PPA

CAMMESA (Off-taker)

2. CAMMESA bills End Consumers on a monthly basis to through DistCos or directly to major users Electricity

End Consumers

1. IPP Injects Renewable Electricity into National Grid

IPP (Seller)

8. Ministry of Energy & Mining increases Guarantee Charge (*)

7. FODER seeks repayment from CAMMESA after having made a Energy Guarantee Payment on its behalf

Renewable Energy Trust Fund

(FODER) 6. FODER pays IPP under Energy Payment Guarantee

5. IPP Issues a claim to FODER for late or non-payment of Energy under PPA

4. CAMMESA pays IPP on a monthly basis under PPA (#)

3. Consumers pay on a monthly basis through DistCos or directly in case of major users

Energy Payment Guarantee 1

LIQUIDITY GUARANTEE

IPP (Seller) CAMMESA (Offtaker)

Renewable Energy Trust Fund (FODER)

(Trustee: BICE)

4. Cause for Sale of Project occurs. IPP submits the claim for payment of the

Project Sale Price to the FODER

1. Cause for early termination occurs

2. IPP notifies CAMMESA

8. IPP submits the claim to the WB (*)

9. The WB pays the eligible amount to the IPP (*)

11. National State pays to the WB the amount due under the Indemnity Agreement

MINEM / MINHYF Representatives of the National State

5. The FODER submits a claim for needed budget to the Ministry of Energy and Mining / Ministry of Finance and

Treasury in exchange of the treasury bills, kept in guarantee.

10. IPP claims for the balance to the FODER Trustor

(*) The FODER grants individuals and legal entities which have issued projects the irrevocable right to directly submit claims before the World Bank in certain cases and to receive payments from the World Bank.

Termination Payment Guarantee via Treasury Bills 2 The World Bank 3

SOLVENCY GUARENTEE (TERMINATION)

7. The FODER does not pay to the IPP the Project Sales Price or pays partially

6. MINEM / MINHyF does not have the funds in full or at all

3. PPA is terminated, IPP is free to sell to thrid party or spot market


RenovAr Results

# PROJECTS : 58 MW: 2,811

# PROJECTS : 11 MW: 53

# PROJECTS : 5 MW: 11

# PROJECTS: 49 MW: 3,468

ROUND 1 - BIDS RECIEVED (SEPTEMBER 5, 2016)

Number of bids received: 123

SOLAR PV

WIND

BIO

SMALL HYDRO

Provinces that participate: Buenos Aires, Chubut, Río Negro, Santa Cruz, Neuquén, La Rioja, La Pampa, Mendoza, Córdoba and Santa Fé

Provinces that participate: Salta, San Juan, Jujuy, Catamarca, San Luis, La Rioja, Mendoza, Neuquén, La Pampa, Córdoba, Buenos Aires and Chaco

Provinces that participate: Entre Ríos, Corrientes, Córdoba, Tucumán, Santa Fé, Misiones and San Luis

Provinces that participate: Río Negro and Mendoza

ROUND 1 - BIDS RECIEVED (SEPTEMBER 5, 2016)

PROVINCE #

PROJECTS

CAPACITY (MW)

NET P50 CAPACITY

FACTOR (%)

AVERAGE LOCAL

CONTENT (%)

SALTA 9 829 34% 8%

SAN JUAN 14 558 29% 13%

JUJUY 4 400 25% 17%

LA RIOJA 7 318 29% 8%

CATAMARCA 9 315 30% 12%

SAN LUIS 4 197 27% 18%

MENDOZA 8 124 27% 67%

BUENOS AIRES 1 30 19% 68%

CORDOBA 1 30 24% 0%

CHACO 1 10 25% 40%

TOTAL 58 2811 29% 21%

ROUND 1 - AWARDED PROJECTS (OCTOBER 14, 2016)

TECHNOLOGY

NUMBER OF

PROJECTS

AWARDED POWER

CAPACITY (MW)

ANNUAL ENERGY

PRODUCTION (GWh/YEAR)

PROVINCES

Wind 12 707 2,882 Buenos Aires, Chubut, Río Negro, Santa Cruz, Neuquén, La Rioja

Solar PV 4 400 918 Salta y Jujuy

Biogas 6 9 70 Santa Fe, San Luis y Córdoba

Biomass 2 15 122 Corrientes y Misiones

Smal Hydro 5 11 68 Río Negro y Mendoza

Total 29 1,142 4,060 14 Provinces

ROUND 1 - SOLAR PV PROJECTS AWARDED

59.0 60.0 60.0 60.0

0

10

20

30

40

50

60

70

80

P.S. La Puna (100) P.S. Cauchari 1 (100) P.S. Cauchari 2 (100) P.S. Cauchari 3 (100)

Awar

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Pric

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S$/M

Wh)

Note: Figure in parenthesis represents awarded power capacity in MW for each project.

ROUND 1.5 - BIDS RECIEVED (NOVEMBER 11, 2016) WIND

PATAGONIA 100 MW

COMAHUE 100 MW

REST OF THE COUNTRY 100 MW

BUENOS AIRES 100 MW

QUOTA

REGION NUMBER OF PROJECTS CAPACITY (MW)

Buenos Aires 8 680

Comahue 3 187

Rest of Country 3 193

Patagonia 5 497

TOTAL 19 1,557

Maximum Price 59.39 USD/MWh

ROUND 1.5 - BIDS RECIEVED (NOVEMBER 11, 2016) SOLAR PV

RESTO OF THE COUNTRY 100 MW

NOA 100 MW

QUOTA

REGION NUMBER OF PROJECTS

CAPACITY (MW)

NOA 9 394

Rest of Country 19 531

TOTAL 28 (*) 925

Maximum Price 59.75 USD/MWh

(*) Bids SFV-03 and SFV-25 were discarded due to formal issues in their respective envelope B.

ROUND 1.5 - AWARDED PROJECTS (NOVEMBER 25, 2016)

TECHNOLOGY NUMBER OF

PROJECTS

AWARDED POWER

CAPACITY (MW)

AVERAGE AWARDED

PRICE (US$/MWh)

ANNUAL ENERGY

PRODUCTION (GWh/YEAR)

WIND

10 765.4 53.34 3,037

SOLAR PV 20 516.2 54.94 1,274

Total 30 1,281.5 53.98 4,311

ROUND 1.5 - SOLAR PROJECTS AWARDED


NOA REGION

51,9 53.4 53.7 56.3 56.4

0

10

20

30

40

50

60

P.S. SAUJIL (23) P.S. TINOGASTA (15) P.S. FIAMBALÁ (11) P.S. CAFAYATE (80) P.S. NONOGASTA (35)

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48.0 52.0 53.0 53.7 54.1 55.0 55.0 55.0 55.0 55.2 56.5 56.7 57.6 58.9 59.2

0102030405060

P.S.ANCHORIS

(21)

P.S. PASIP(1)

P.S.SARMIENTO

(35)

P.S. ULLUMN1 (25)

P.S. IGLESIA- GUAÑIZULI

(80)

P.S. LAVALLE(18)

P.S. LUJANDE CUYO

(22)

P.S. LA PAZ(14)

P.S.GENERAL

ALVEAR (18)

P.S. ULLUMN2 (25)

P.S. ULLUM4 (14)

P.S. LACUMBRE

(22)

P.S.ULLUM3

(32)

P.S.CALDENESDEL OESTE

(25)

P.S. LASLOMITAS (2)

ROUND 1.5 - SOLAR PROJECTS AWARDED


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SOLAR PV @ ROUND 1 + 1.5 24 SOLAR PV PROJECTS

AWARDED

Wind Awarded

Wind Not Awarded

Solar PV Awarded

Solar PV Not Awarded

Biomass Awarded

Biomass Not Awarded

Biogas Awarded

Biogas Not Awarded

Small Hydro Awarded

Small Hydro Not Awarded

PROVINCE # PROJECTS

ROUND 1

ROUND 1.5

TOTAL

JUJUY 3 300 300

SAN JUAN 7 212 212

SALTA 2 100 80 180

MENDOZA 6 94 94

CATAMARCA 3 49 49

SAN LUIS 2 47 47

LA RIOJA 1 35 35

TOTAL 24 400 516 916

SIGNITICANT PRICE IMPROVEMENT ROUND 1 vs. ROUND 1.5

ROUND 1.5 AWARDED CAPACITY 516 MW CUT-OFF PRICE 59.20 US$/MWh

ROUND 1 AWARDED CAPACITY 400 MW CUT-OFF PRICE 60.00 US$/MWh

SIGNITICANT PRICE IMPROVEMENT ROUND 1 vs. ROUND 1.5

Max -52%

Min -16% Average

-30%


What´s Next

WORK IN PROGRESS

ACTION ITEM COMPLETED BY (ESTIMATE)

RenovAr PPA and FODER Adhession Agreements signed Round 1 by Jan. 5, 2017

Round 1.5 by mid 2017

Pending regulation on local content certification and duty-free imports for

local manufacturers

YE 2016

Corporate PPA and Self-generation Detailed Regulation 1Q 2017

Distributed Renewable Energy Regulation (national law) 1Q to 2Q 2017

RenovAr Round 2 launched 2Q 2017?

Technology specific tenders for Geothermal, Biogas, Biomass, Small Hydro 3Q 2017?


RenovAr – List of Awarded Projects

ROUND 1 - LIST OF AWARDED PROJECTS

TECHNOLOGY ID PROVINCE TOWN PROJECT NAME BIDDING CONSORTIUM MW AWARDED PRICE (USD/MWh)

WIND

EOL-14 BUENOS AIRES Bahía Blanca P.E. García del Río ENVISION / SOWITEC 10 49.81

EOL-17 BUENOS AIRES Buratovich P.E. Vientos del Secano ENVISION 50 49.08

EOL-06 BUENOS AIRES Villalonga P.E. Villalonga GENNEIA 50 54.96

EOL-16 NEUQUEN Confluencia P.E. Los Meandros ENVISION 75 53.88

EOL-15 RIO NEGRO Pilcaniyeu P.E. Cerro Alto ENVISION 50 56.98

EOL-44 BUENOS AIRES Bahía Blanca P.E. Corti C. T. LOMA DE LA LATA 100 58.00

EOL-22 CHUBUT Garayalde P.E. Garayalde PAE / 3 GAL 24 59.00

EOL-35 BUENOS AIRES Villarino P.E. La Castellana CP RENOVABLES 99 61.50

EOL-33 CHUBUT Pampa del Castillo P.E. Kosten ENAT / SEG / OTAMENDI / NUEVO CERRO DRAGÓN 24 59.41

EOL-05 SANTA CRUZ Las Heras P.E. Vientos Los Hércules EREN 97 62.88

EOL-08 CHUBUT Puerto Madryn P.E. Chubut Norte GENNEIA 28 66.00

EOL-46 LA RIOJA Arauco P.E. Arauco II (Etapa 1 y 2) ARAUCO S.A.P.E.M. 100 67.19

Project requested World Bank Partial Guarantee.

49.1 49.8 53.9 55.0 57.0 58.0 59.0 59.4 61.5 62.9

66.0 67.2

0

10

20

30

40

50

60

70

80

Vientos delSecano (50)

García delRió (10)

LosMeandros

(75)

Villalonga(50)

Cerro Alto(50)

Corti (100) Garayalde(24.15)

Kosten (24) La Castellana(99)

Vientos LosHércules

(97.2)

ChubutNorte (28.35)

Arauco II(Etapa 1 y 2)

(99.75)

ENAT

/ S

EG /

OTA

MEN

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NU

EVO

CER

RO D

RAG

ÓN

WIND PROJECTS AWARDED Aw

arde

d Pr

ice

(US$

/MW

h)




SOLAR PV

SFV-38 JUJUY Cauchari P.S. Cauchari 1 JEMSE 100 60.00



SFV-13 SALTA San Antonio de los Cobres P.S. La Puna FIELDFARE/ ISOLUX 100 58.98

SMALL HYDRO

PAH-01 MENDOZA Lujan de Cuyo P.A.H. Canal Cacique Guaymallén - Salto 8

EMESA / CONST. ELECT. DEL OESTE 1.20 105.00

PAH-02 MENDOZA Lujan de Cuyo P.A.H. Canal Cacique Guaymallén - Salto 6


PAH-03 MENDOZA Lujan de Cuyo P.A.H. Dique Tiburcio Benegas


PAH-04 MENDOZA Junín P.A.H. Triple Salto Unificado EMESA / CONST. ELECT. DEL OESTE 0.51 105.00

PAH-05 RIO NEGRO El Foyel P.A.H. Rio Escondido PATAGONIA ENERGIA 7.00 105.00




BIOGAS

BG-01 BIOMAS CROP Rio Cuarto C.T. Río Cuarto 1 BIOMAS CROP 2 160.00

BG-02 BIOMAS CROP Juan LLerena C.T. Río Cuarto 2 BIOMAS CROP 1.2 160.00

BG-03 ACA / FERSI Christophersen C.T. Yanquetruz ACA / FERSI 1.2 160.00

BG-04 ADECO AGRO Huinca Renancó C.T. San Pedro Verde ADECO AGRO 1.42 158.92

BG-05 FECOFE / COOP. HUINCA RANANCÓ

Rio Cuarto C.T. Huinca Renancó FECOFE / COOP. HUINCA RANANCÓ 1.62 160.00

BG-06 SANTA FE Ricardone C.T. Biogás Ricardone MARTÍN NACARATO / OTROS 1.2 118.00

BIOMASS

BM-01 CORRIENTES Santa Rosa C.T. Generación Biomasa Santa Rosa

PAPELERA MEDITERRÁNEA / LUCENA 12.5 110.00

BM-05 MISIONES Puerto Esperanza C.T. Pincó Eco PINDÓ 2 110.00


ROUND 1: SOLAR PV PROJECTS AWARDED

59.0 60.0 60.0 60.0

0

10

20

30

40

50

60

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80

P.S. La Puna (100) P.S. Cauchari 1 (100) P.S. Cauchari 2 (100) P.S. Cauchari 3 (100)

Awar

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Pric

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S$/M

Wh)


BIO AND SMALL HYDRO PROJECTS AWARDED

0

20

40

60

80

100

120

140

160

P.A.H. CanalCacique

Guaymallén -Salto 8 (1.2)

P.A.H. CanalCacique

Guaymallén -Salto 6 (1.01)

P.A.H. DiqueTiburcio

Benegas (1.65)

P.A.H. TripleSalto

Unificado(0.51)

P.A.H. RioEscondido (7)

C.T.Generación

Biomasa SantaRosa (12.5)

C.T. Pincó Eco(2)

C.T. RíoCuarto 1 (2)

C.T. RíoCuarto 2 (1.2)

C.T.Yanquetruz

(1.2)

C.T. San PedroVerde (1.42)

C.T. HuincaRenancó

(1.62)

C.T. BiogásRicardone *

(1.2)

Awar

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Pric

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S$/M

Wh)

SMALL HYDRO BIOMASS BIOGAS

MAR

TÍN

ALF

REDO

NAC

ARAT

O

PATA

GO

NIA

EN

ERG

ÍA S

.A.

FAM

ILIA

LU

CEN

A

BIO

MAS

S CR

OP

S.A.

BIO

MAS

S CR

OP

S.A.

FERS

I S.A

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COO

P. L

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DE E

LECT

RICI

DAD

Y SE

RVIC

IOS

ANEX

O D

E HU

INCA

REN

ANCÓ


TECHNOLOGY REGION ID PROVINCE PROJECT NAME BIDDING CONSORTIUM MW AWARDED PRICE (USD/MWh)

SOLAR PV

NOA

SFV-21 CATAMARCA P.S. Saujil ENERGIAS SUSTENTABLES 23 51.9

SFV-20 CATAMARCA P.S. Tinogasta IVANISSEVICH / DEYKOLL 15 53.4

SFV-18 CATAMARCA P.S. Fiambalá EMPRESA MENDOCINA DE ENERGÍA S.A.P.E.M. 11 53.7

SFV-12 SALTA P.S. Cafayate FIELDFARE / ISOLUX INGENIERÍA 80 56.3

SFV-15 LA RIOJA P.S. Nonogasta ENERGIAS SUSTENTABLES / FIDES GROUP 35 56.4

REST OF SOLAR

SFV-34 MENDOZA P.S. Anchoris EMPRESA MENDOCINA DE ENERGÍA S.A.P.E.M. 21 48.0

SFV-06 MENDOZA P.S. General Alvear EMPRESA MENDOCINA DE ENERGÍA S.A.P.E.M. 18 55.0

SFV-04 MENDOZA P.S. La Paz EMPRESA MENDOCINA DE ENERGÍA S.A.P.E.M. 14 55.0

SFV-01 MENDOZA P.S. Lavalle EMPRESA MENDOCINA DE ENERGÍA S.A.P.E.M. 18 55.0

SFV-02 MENDOZA P.S. Lujan de Cuyo EMPRESA MENDOCINA DE ENERGÍA S.A.P.E.M. 22 55.0

SFV-05 MENDOZA P.S. PASIP EMPRESA MENDOCINA DE ENERGÍA S.A.P.E.M. 1 52.0

ROUND 1.5 - LIST OF AWARDED PROJECTS


TECHNOLOGY REGION ID PROVINCE PROJECT NAME BIDDING CONSORTIUM MW AWARDED PRICE (USD/MWh)

SOLAR PV

REST OF SOLAR

SFV-31 SAN JUAN P.S. Sarmiento EMPRESA MENDOCINA DE ENERGÍA S.A.P.E.M. 35 53.0

SFV-46 SAN JUAN P.S. Ullum N1 ENERGIAS SUSTENTABLES / FIDES GROUP 25 53.7

SFV-49 SAN JUAN P.S. Iglesia - Guañizuli JINKOSOLAR HOLDING 80 54.1

SFV-45 SAN JUAN P.S. Ullum N2 ENERGIAS SUSTENTABLES S.A / ALEJANDRO IVANISSEVICH / FIDES GROUP

25 55.2

SFV-37 SAN JUAN P.S. Ullum 4 COLWAY 08 INDUSTRIAL / ILDEFONSO GUILLERMO CLAVIJO / FERNANDO ÁNGEL MARESCA

14 56.5

SFV-32 SAN JUAN P.S. Ullum3 ENERGIAS SUSTENTABLES / ALEJANDRO IVANISSEVICH 32 57.6

SFV-57 SAN JUAN P.S. Las Lomitas LATINOAMERICANA ENERGIA 2 59.2

SFV-41 SAN LUIS P.S. La Cumbre DIASER 22 56.7

SFV-36 SAN LUIS P.S. Caldenes del Oeste QUAATRO PARTICIPACOES 25 58.9



ROUND 1.5: SOLAR PROJECTS AWARDED


NOA REGION

51,9 53.4 53.7 56.3 56.4

0

10

20

30

40

50

60

P.S. SAUJIL (23) P.S. TINOGASTA (15) P.S. FIAMBALÁ (11) P.S. CAFAYATE (80) P.S. NONOGASTA (35)

Awar

ded

Pric

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S$/M

Wh)

48.0 52.0 53.0 53.7 54.1 55.0 55.0 55.0 55.0 55.2 56.5 56.7 57.6 58.9 59.2

0102030405060

P.S.ANCHORIS

(21)

P.S. PASIP(1)

P.S.SARMIENTO

(35)

P.S. ULLUMN1 (25)

P.S. IGLESIA- GUAÑIZULI

(80)

P.S. LAVALLE(18)

P.S. LUJANDE CUYO

(22)

P.S. LA PAZ(14)

P.S.GENERAL

ALVEAR (18)

P.S. ULLUMN2 (25)

P.S. ULLUM4 (14)

P.S. LACUMBRE

(22)

P.S.ULLUM3

(32)

P.S.CALDENESDEL OESTE

(25)

P.S. LASLOMITAS (2)

ROUND 1.5: SOLAR PROJECTS AWARDED


REST OF SOLAR REGION

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Thank You

Undersecretariat of Renewable Energy Ministry of Energy and Mining Presidency of the Nation

Paseo Colón 189 Piso 9 Tel. (+54 - 11) 4349-8033/8186 [email protected]

Documents available at: www.cammesa.com.ar and www.minem.gob.ar

Argentina Solar PV Status and Market Outlook

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Transcript of Argentina Solar PV Status and Market Outlook