China loans Argentina US$25 billion for energy projects, including hydroelectric

China finances Argentina hydro

During the first half of 2016, China provided US$25 billion in financing commitments to Argentina for energy and infrastructure projects, according to BNamericas.

This total includes US$5 billion for the 1,740-MW Kirchner-Cepernic hydroelectric complex in Santa Cruz province, says Diego Guelar, Argentina’s ambassador to Beijing.

“China is our principal energy partner and now, without a doubt, our [number one] financial partner,” Guelar said, according to state news service Telam.

Other financing includes US$12 billion for two nuclear reactors, US$1.8 billion for two natural gas pipelines, US$1.15 billion for photovoltaic solar projects, US$2.7 billion to revamp a national railway network, and US$360 million for an aqueduct and highway works.

Guelar said Argentina also expects China to finance about 70% of the wind and solar projects to be awarded in a series of renewable energy supply tenders.

The 1,140-MW Nestor Kirchner and 600-MW Jorge Cepernic facilities are being developed by Grupo Eling SA in a joint venture with CGGC of China. The dams will be located on the Santa Cruz River in Santa Cruz province, about 80 km apart. MWH is providing detailed design services for both facilities. Once completed, they will increase power to the region by 58%.

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