Financial Crisis, New Regulations Jeopardize Argentine Wind Power Investments, an Industrial Info Market Brief

The Argentine Wind Chamber (CEA) said in a recent open letter that new exchange market restrictions imposed by the Argentine government jeopardize $2 billion in international loans for wind projects. The government restricted the amount of U.S. dollars that could be purchased in the legal market. The purchase ceiling was imposed on September 1 after the exchange rate jumped from 40 pesos per U.S. dollar to 60 pesos per dollar following the nation's primary elections in mid-August. Access to international credit was further aggravated when the country's sovereign risk rating rose during the same period.