Uruguay plans to introduce an ordinance wherein the country’s national national utility, Usinas y Transmisiones Electricas (UTE) will be required to purchase 200MW solar electricity.
To improve low-cost energy generation, the country plans to offer contracts to procure solar energy at $90 per MWh in March 2013.
Ministry of Industry, Energy and Mining director of energy Ramon Mendez told Bloomberg that the nation will produces some of the cheapest wind energy globally and expects to repeat the same with solar power by reducting the prices of photovoltaic panels.
Mendez further said that developers can submit proposals until four months after the decree is issued. Proposed projects can have a capacity as large as 50MW.
The prices on offer are however unlikely to spur investors as China offers $160 for each MWh and Germany offers €118 ($154.53) per MWh.