main navigation menu miga logo
World Bank building

MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more.

Young woman bending down to tending to her outside chores

Explore different types of political risk insurance guarantees provided to investors and lenders.

Hyundai building

Explore global projects that support economic growth, reduce poverty and improves people’s lives.

Hands husking peas into a basket full of peas

Learn about the progress MIGA is making in its mission to support economic growth, reduce poverty and improve people’s lives.

Subscribe to Our Monthly Newsletter
x

About Dropdown Description

World Bank building

MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more.

Our Impact Dropdown Description

Hands husking peas into a basket full of peas

Learn about the progress MIGA is making in its mission to support economic growth, reduce poverty and improve people’s lives.

Our Products Dropdown Description

Young woman bending down to tending to her outside chores

Explore different types of political risk insurance guarantees provided to investors and lenders.

Projects Dropdown Descriptions

Hyundai building

Explore global projects that support economic growth, reduce poverty and improves people’s lives.

Brief

Argentina Renewable Energy Auctions

twitteremail
Image
Argentina Renewable Energy Auctions

Argentina has some of the world’s best renewable energy potential, but financing the opportunity to explore it has been challenging. In early 2016, the Government of Argentina launched the RenovArinitiative. It is an auction-based renewable energy program designed to scale-up private renewable generation capacity. The RenovArscheme helps address the key constraints to Argentina’s renewable energy development. These include poor access to long-term funding sources and perceptions of high country and sector risks. 

To further enhance investors’and financiers’ confidence, the World Bank Group (WBG) supported the preparation of the first RenovArtenders and provided a $480 million guarantee to backstop certain government obligations under the program. In doing so, the WBG support helped Argentina unlock its renewable energy potential by creating a market and mobilizing about $3.2 billion of mostly private investments.

PROJECT HIGHLIGHTS
  • The Government of Argentina launched a program to promote private investment in renewable energy. The World Bank’s support started with helping design the program. The Bank also reviewed bid documents and devised a risk mitigation structure. 

  • Structuring involved a $480 million guarantee from the International Bank for Reconstruction and Development (IBRD). It backstops critical aspects of Argentina’s payment obligations. 

  • The World Bank reached out to the global investor base and participated in investors’ road shows. This enhanced the program’s attractiveness. 

  • World Bank support helped Argentina unlock its renewable energy potential. About $3.2 billion of mostly private investment was mobilized.