Argentina power watch

By
Friday, February 9, 2018

Chinese companies have confirmed their decision to finance a wind farm in Buenos Aires province for US$150mn, the Argentine embassy in Beijing has reported.

On Friday, executives from China Lac Cooperation Fund, China Energy Engineering Investment Corporation (CEEIC) and Golden Peaks Capital met with Ambassador Diego Guelar.

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During the meeting, the businessmen confirmed financing the development of the 100MW Viento Reta en Tres Arroyos wind farm.

Guelar said that "it is the first major investment project by China Energy Engineering and the China Lac Cooperation Fund in Argentina; it is a very important achievement because this fund is one of the two sovereign funds to channel Chinese investments to Latin America."

The companies said they expect to finalize the details of the operation in the coming months.

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Entre Ríos governor Gustavo Bordet has met with members the German Chamber of Industry and Commerce (IHK) which consists of more than 7,000 companies. The meeting was held in Potsdam, capital of the federal state of Brandenburg.

Bordet encouraged German businesses to invest in infrastructure and renewable energy in Entre Ríos. Argentina's ambassador to Germany, Edgardo Malaroda, made himself available to facilitate the necessary arrangements.

"The two regions are more similar than we think, and the sectors in which we are strong are the sectors which also have a lot of potential for Entre Ríos," said the chamber's international trade representative Jens Ullman with regard to renewable energy.

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After a European Union mission visited Jujuy province to learn more about financing alternatives for renewable energies, among others, provincial environment minister María Inés Zigarán confirmed that the European officials had shown much interest in financing projects in the province.

Two initiatives of potential interest to the EU were presented: Pueblos Solares and a renewable energy development in Finca El Pongo.