Argentina's Political Uncertainty and Debt Crisis Torpedo Green Energy Push

In Argentina’s sunny Mendoza province, officials had been preparing to break ground on the Vecaso solar park, a 115 megawatt project costing $90 million, Reuters reported. The culmination of nearly four years of planning, Vecaso was one of several ambitious projects to take root under a renewable energy push by the government of President Mauricio Macri. But that project is now in limbo, along with at least two other clean energy investments totalling half a billion dollars - victims of political and economic uncertainty that has crimped cash flow into Argentine industries from shale drilling to cars. Latin America’s no. 3 economy is facing default fears following a sharp market crash and has imposed stricter capital controls to protect the peso after an election last month that saw business-friendly Macri beaten by opposition candidate Alberto Fernandez. Read more

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