• Argentina says 89 companies have offered to build electricity generation projects

    Argentina’s energy ministry said on Tuesday that 89 companies are interested in building 196 projects to generate electricity as the government tries to attract private investment to lift the country out of recession.

    If built, the projects would generate 34,834 megawatts of energy, the ministry said. A government source said they would bring in $30 billion in investment, although not all projects would be awarded.

    The project presentations will be analyzed and an auction will be held in the first half of the year before contracts are signed, the statement said.

    Center-right President Mauricio Macri is trying to attract private investment to build roads, trains, transmission lines and other infrastructure to boost Argentina’s economy.

    The energy ministry statement said the energy projects would reduce the cost of energy on the local market.

    In October the government said it expected investment of $1.8 billion from 17 renewable energy projects it awarded in an auction. It had received 123 bids in September, as companies looked to build wind, solar and biogas projects. Nick Holden Jersey

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