Argentina’s La Rioja province signed an agreement with the ministry of environment on Friday to finance an expansion of a photovoltaic (PV) module assembly factory of local state-run firm Led Lar SA to 20 MW from the current 10 MW.
The company will receive ARS 22 million (USD 2.5m/EUR 2.2m) to double its capacity in the next 14 months.
The funds are to come to the province this week, according to Monica Carrizo, head of La Rioja’s institute of environmental planning.
The factory was inaugurated at the beginning of last week in Chamical, southern La Rioja, with orders for the first year of production. The plant is expected to provide solar panels for households in rural areas, according to preliminary market studies, but it could also offer solutions to firms and municipalities outside La Rioja which have already shown interest.