Argentina could become green energy powerhouse

“We are pushing for, in the first place, that the law be fulfilled that obliges the state to develop renewable sources with the aim of reaching in 2016 eight percent of energy produced by these kinds of technologies,” said Juan Carlos Villalonga, director of Greenpeace Campaigns in Argentina. He added that by 2020 wind energy must reach 8,000 megawatts.

Like any industry, renewable energy also has drawbacks. Gareis pointed out that “they also generate an environmental impact.” With wind energy “the most negative aspect is the effect on the landscape, on birds and in creating noise. Nonetheless, positive aspects are greater than negative ones,” she said.

Although currently less than one percent of Argentina's energy comes from renewable sources, the law says that by 2016 it has to be eight percent.

“I don't know whether the goal is going to be met but it's a good one,” said James, adding that a few years ago there was a wave of investment in biodiesel and now the trend has shifted to wind energy.

In this regard he said that the further south one goes, the more wind there is, but there is no electric grid, so there will be the need to add infrastructure so that the energy can reach the market, since consumers are mostly in Buenos Aires.

One major issue is electricity storage. James explained that energy from fossil fuels is consumed immediately, and solar and wind energy depends on environmental conditions.

There is a growing sector in Argentina concerned with storing energy using lithium that is also abundant in the South American country. A weak point is finding ways to store renewable energy and maintain reserves, that's why “mega-batteries are being invented,” James said.

James added that the industry of renewable energy is the world's fastest-growing. He said that in the last five years it grew at a world rate of 56 percent and in Latin America the rate was 145 percent.

Things are much slower though in Argentina and the “bad news was that last year 12 billion U.S. dollars were invested in Latin America in renewable energy projects and Brazil got 10 billion U.S. dollars.”

The reason for that, James said, was that Brazil managed to convince investors that there would be no abrupt changes to its legislation, that policies, once in place, would remain.

“Rules won't change from one day to the next.”

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