PowerChina, Argentina sign financing deal for 75-MW El Tambolar hydropower plant

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The government of Argentinian province San Juan signed an agreement with PowerChina earlier this week for financing of the 75-MW El Tambolar hydropower project.

The US$600 million plant is being developed by Argentina's Panedile, which will receive 85% of funding for the project from PowerChina at a 3% annual interest rate. The remainder will be financed by the state.

El Tambolar will be located on the San Juan River. Already located along the waterway are the 45-MW Quebrada de Ullum, 62.2-MW Punta Negra and 126-MW Los Caracoles hydroelectric plants.

Construction of El Tambolar is expected to take about five years to complete, during which time it will create up to 1,300 jobs.

For more news from Latin America, visit here.

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