Argentina plans for renewable are huge as the government rolls the first incentive plan for individual projects. Argentina, which gets twice the solar radiation as Germany, is ready to get 8 percent of their own power from renewable by 2016, although financing solar projects is very challenging as these projects only rely on local bond markets and trusts. Their goal is to develop 3,000 MW from renewable energy sources allowing developers to negotiate premium tariffs with the government on a case by case basis. Some of these projects will receive tariffs between $200 to $400 a megawatt-hour; however, PV projects is far from challenging grid connected power because it is subsidized by the government. Average borrowing costs for Argentine companies are almost 11 percent, more than double the 4.84 percent average for emerging markets, according to JPMorgan Chase & Co.