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.
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