The good news for potential investors in Uruguay is that two months ago Ministry of Industry, Energy and Mining Ramon Mendez, commented that by 2015 Uruguay could have $1.3 billion dollars of wind farms if developers provided less expensive electricity than that generated by conventional fuel powered plants.
Mednez added that Uruguay's state owned national power company Administracion Nacional de Usinas y Trasmisiones Electricas (National Administration of Power Plants and Electric Transmissions, or UTE) could purchase up to 600 megawatts of electricity from projects from companies that participated in an auction for new wind farms, four times more than expected if the price was right.
Diario El Pais newspaper reported that Mendez said, "The bids are amazing. I was quite surprised when I first saw them."
Now we know.
On 15 November UTE announced on its website that over the next 30 days interested companies can submit for projects totaling 450 megawatts of capacity to UTE.
If UTE attracts sufficient investor interest and achieves its 450 megawatt goal, then Uruguay will be on target to have roughly one gigawatt of electricity generated by wind power by 2015. The target if reached, would fulfill nearly 30 percent of the nation's total generation capacity needs, which would represent the highest proportion of wind power electrical generation in the Western Hemisphere.
But, UTE added, it won't accept bids above $65 a…