Argentina expected to develop renewable energy

A survey of local firms in Argentina revealed that wind power, solar energy and biofuels are expected to be the most developed types of renewable energy in the country within the next years. The survey was conducted by the consultancy firm, KPMG. Nestor Garcia, KPMG’s lead partner for energy and natural resources in the country said that according to the survey, 54% of respondents said banks will be the main source of financing for renewable energy projects. Of those surveyed, 22% said that projects will be financed by parent companies or groups. An increase in mergers and acquisitions within the next three years was expected by 50% of the respondents. The other 50% believed that mergers and acquisitions will remain at the current level. (June 5, 2012)