Argentina is poised to approve the final details of a new law designed to give a boost to renewable energy as President Mauricio Macri steps up his efforts to fight climate change.
The law will impose fines on large users of electricity that don’t get at least 8 percent of their power from renewable sources, starting in 2018, according to Juan Carlos Villalonga, a lawmaker from the governing party Cambiemos.
The legal framework will be completed this week. Once enacted, the government will auction 1 gigawatt-hour of electricity from renewable generators.
“Once the framework is fixed by the government, with clear rules for all the players, Argentina will be able to quadruple the amount of electricity currently on offer from renewable companies as required by law before 2018,” Villalonga said in an interview in Buenos Aires after meeting with the Energy and Mining Minister Juan Jose Aranguren and a delegation from the Global Wind Energy Council.