The government of Chubut made official the adhesion of the province to the Large Investment Incentive Regime (RIGI), After the local Legislature gave the green light to the project sent by the governor weeks ago Ignacio “Nacho” Torres to comply with the regulations approved by the Congress as part of the Bases law.
Through publication in the Official Gazette, the Patagonian province complied with the decision of its parliament on August 15, with 18 votes in favor and 9 against. The particularity of the case is that the law maintains the veto on mining activity, one of the most sensitive issues in the local arena.
Chubut regulated the RIGI and is on the hunt for investments
It is worth remembering that the district was the fourth to join the RIGI, after they did so Rio Negro, Jujuy and Mendoza. Now, in its regulations, the administration of “Nacho Torres invites municipalities to join the regulations.
In particular, the province seeks to attract investments in the hydrocarbon, energy and tourism sectors, excluding mining, whose rejection was the reason for numerous demonstrations in the recent past, during the administration of Mariano Arcioni.
The province is currently under Law 5,001, which was passed in 2003 and prohibits open-pit mining and the use of cyanide.
Following the approval of the project in the Legislature, The Chubut government has made progress in its search for investments. One of the first projects involves the arrival of Chinese capital for the development of a new wind farm.
The news was announced in the middle of the month by the Secretary of Infrastructure, Energy and Planning of Chubut, Nicolas Cittadiniwho confirmed that the project will be located in the El Escorial area, in the north-center of the province and which will be key to the province’s energy transition.
According to the official, the wind farm is expected to have a capacity of 200 megawatts (MW), and would not only take advantage of the region’s natural resources, but would also have sufficient potential to provide electricity to up to 80% of the province’s territory within a period that authorities estimate at two to three years.
In this regard, Cittadini said that “There are Chinese investors interested in the project and willing to pay the 365 million dollars that the construction of the park will require.”
The provincial executive assures that the project “is part of a broader effort to promote the use of renewable energy in the province,” which has been seeking foreign investment for some time to carry it out.
“Opportunity for the provinces”
Months ago, during the debate on the Ley Bases, Torres had stated that the RIGI “is an opportunity for Chubut.”The RIGI is an opportunity for exporting provinces like Chubut, the nation needs foreign currency and we need to boost our economies and add value to our resources”said.
Now, to encourage their adhesion, the Chubut administration explained: “We cannot continue on a path in which GDP does not grow in the same proportion as the population and in which the only response of the political leadership has been to exponentially multiply public employment and social assistance programs.”.
Source: Ambito
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