ECO welcomes Argentina’s early moves towards achieving 8% of its power from renewable energy sources by 2017, and 20% by 2025. Many civil society organisations and grassroots movements gathered outside Argentina’s National Congress to support renewable energy as this important bill was approved.
The bill proposes to accelerate the development of alternative sources of energy generation. In addition, it would create a Trust Fund for the Development of Renewable Energies (FODER) to support the financing of investment projects. Importantly, the fund would be backed by 50% of the money saved from importing fossil fuels.
ECO knows that the bill is not perfect, but it provides the opportunity for a festive and colourful campaign for public awareness toward a national strategy for renewable energies.
One thing remains clear: Argentina must show greater ambition in its national commitments and setting its targets for renewable energies – as they already have been promising this 8% since 2004.