Renewable energy sources are forecast to account for 55% of the total electricity generation capacity in Argentina by 2035, compared with 37% in 2023, according to GlobalData’s power capacity and generation database. GlobalData uses proprietary data and analytics to provide a complete picture of Argentina’s renewable energy market in its Argentina Power Market Outlook to 2035 report. Buy the report here.
Of all renewable energy sources, the share of hydro power generation capacity is forecasted to change from 25% in 2023 to 23% in 2035.
The share of wind power is expected to reach 13% in 2035, compared with a 3% share in 2023. Biopower is forecast to account for 1% shares of Argentina’s total electricity generation capacity, in 2035, as against 0.64% shares in 2023. The share of geothermal is expected to change from a 0.00% share in 2023 to a 0.14% share in 2035.
In terms of capacity additions, the total renewable energy capacity is expected to see 18136.64 MW of additions in Argentina during the forecast period while the non-renewable energy segment is likely to see 852.6 MW of additions.
CAGR growth of key renewables in Argentina
Renewable generation capacity in Argentina is expected to reach 21GW in 2035 at a CAGR of 6% during 2023-2035.
Solar PV power is expected to record highest growth rate of 17.07% by 2035, followed by biopower with 10%. Other renewable energy sources such as wind and hydro are estimated to have growth rates of 10% and 2% respectively.
CCS plants in pipeline in Argentina
A total of four carbon capture and storage (CCS) plants are expected to be developed in Argentina by the end of 2035.
For more detailed analysis of the renewable energy market in Argentina, buy the report here.
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