The national hydrocarbon company YPF, through its subsidiary YPF Luz, began this Monday the construction of the El Zonda solar park, located in the province of San Juan, whichl will supply, once completed, the equivalent of 140,000 homes, with an investment of US$ 93 million.
“The State has to generate the conditions, the means and the infrastructure so that private investment arrives in its fullness; and nobody is going to come to invest if there is no energy”said the Chief of Staff, Juan Manzur, at a ceremony held this morning at the Ullum I Solar Plant of the solar park, operated by the distributor Genneia.
The solar park, the first built by YPF Luz, will have, in a first stage, a power of 100 megawatts (MW), and will expand the current renewable generation capacity by 25% in San Juan.
Through two subsequent stages (of 100 MW each), The plant is expected to be expanded to a capacity of 300 MW, which would supply 140,000 homes.
“Energy has to be consistent with the development of the new times, clean and renewable energy,” added Manzur, who stated that the State “has to generate the conditions, the means and the infrastructure so that private investment arrives in its fullness. “.
The official stated that “The gaps are going to be closed through investment, which is what is being done here today.”
San Juan will have the largest Solar Park in Argentina, hand in hand with @YPFoficial. This will have a total capacity of 300 MW of installed power, equivalent to the consumption of 140,000 homes. pic.twitter.com/m9klMrTaxA
– Sergio Uñac (@sergiounac) February 7, 2022
For its part, One C He maintained that “today San Juan is recognized with a millionaire investment made by an emblematic company for Argentina such as YPF.”
The provincial president explained that San Juan is the province “with the largest number of installed solar parks and the largest installed capacity,” and stated that YPF Luz’s investment “is important as it is greater than that of all the parks currently in the province.”
From the province of San Juan, together with the governor @sergiounac and the president of @YPFoficialPablo González, we began work on the Zonda Solar Park, YPF Luz’s first project, with an investment of more than 90 million dollars for the production of renewable energy. pic.twitter.com/rBSSjUFYZc
– Juan Manzur (@JuanManzurOK) February 7, 2022
While, the president of YPF, Pablo González, indicated that the company is in a stage of “energy transition” and that traditional energy, such as oil and gas, will be key to its financing.
“When you think about the development of a country, you not only have to think about producing conventional and non-conventional energy based on oil and gas, but also about accompanying the energy transition through sustainable projects and with profitable results that push the improvement that YPF had in the last result”, said González.
He added that the company could “have decided to make this investment in non-conventional energy equipment in Vaca Muerta”.
“But we decided that we had to come to San Juan and accompany this paradigm of transforming YPF into a company that generates renewable energy,” said the executive, who stressed that the company will invest US$3.7 billion this year, the largest figure in the last seven.
There are 300 hectares destined for the transformation of solar energy into electrical energy for the consumption of large users and industrial clients. In addition, it will mean substantial savings in carbon emissions compared to conventional power plants. pic.twitter.com/nzQV5kNBHE
– Juan Manzur (@JuanManzurOK) February 7, 2022
The solar park will generate emission savings equivalent to 360,000 tons of carbon dioxide per year, compared to an equivalent thermoelectric plant.
Once the works are finished, YPF Luz will sell the photovoltaic energy generated to large users and industrial clients in the Term Market for Renewable Energies (Mater), a sale that is already 40% committed.
YPF Luz currently has 400 MW of wind power in operation, out of a total of 2,500 MW, and the San Juan project will be the first solar energy project of the electricity subsidiary.
For its part, the president of YPF Luz, Martin Mandaranohighlighted that the project, the largest of its kind in the country, “will supply energy to many industries, allowing them to be competitive and developing the productive matrix of Argentina with electricity that is more economical and competitive every day.”
“Today we are launching our first solar project in the province of San Juan, where radiation is one of the most important and strongest points in the world, competing with the Atacama Desert”Mandarano assured.
He indicated that the radiation capacity will allow a “very high efficiency” project, which by using bifacial solar panels “will allow to take not only the direct sun, but also the light that bounces off the floor.”
“With San Juan, there are already six provinces in which we carry out activities, which allows us to ratify that we have a federal vision,” said the executive.
The plant will occupy an area of 300 hectares located in the town of Bella Vista, department of Iglesia; and its construction will require an approximate duration of 14 months.
The work will create more than 90 jobs in addition to an increase in local economic activity through the demand for indirect services and local suppliers.
The project, which will require an investment of US$ 93 million from the company, has as a novelty that US$ 63.9 million of the total will be financed through a green bond, being the first time that YPF adopts this financing method.
In addition to the YPF Luz project, the Genneia company plans to build an 80 MW plant in San Juan in the center-south of the province on National Route 54 in the same area as its Ullum I, II and III solar parks, which will employ more than 400 people.
