In the last week of 2022 another one had been received disbursement of US$287 millionbut in that case they were intended to repay advances made by the National Treasury to cover the delay in Chinese financing, in order to give continuity to the work.
That delay in cash flow was unlocked in mid-November at the president’s meeting Alberto Fernandez and its Chinese counterpart, Xi Jinpingin the meeting held on the island of Baliwithin the framework of the G20 Summit in which the Minister of Economy also participated, Sergio Massa.
This contribution made known this Saturday will be destined to the continuation of the works which are carried out in the center of the province of Santa Cruz, as part of the financing of the consortium made up of China Development Bank Corporation, Industrial and Commercial Bank of China Limited (ICBC) and Bank of China Limited.
In this way, the Government highlighted that normalizes the disbursement schedule for dams who will demand a investment almost US$5,000 millionand which has progress of work of just over 36% at Jorge Cepernic and 24% at Nestor Kirchner.
the state enarsa is in charge of the construction that executes the Temporary Union of Companies (UTE), made up of the Chinese gezhouba and the national Eling Energy and Hydrocuyo.
The Secretary of Energy, Flavia Royonexpressed that “after five years, this management has once again put into operation the disbursements to continue the hydroelectric dams of the Santa Cruz River, which allows the continuity of this strategic work for our country.”
“This guarantees the continuity of 3,000 jobs, 5,000 GWh/year of competitive energy, equivalent to consumption of 1,100,000 households and with a national component of 75%“he said through his Twitter account.
The hydroelectric complex, located in the province of Santa Cruz, will have a installed capacity of 1,310 MWof which correspond 360 MW to the center cepernic Y 950 MW to President Nestor Kirchner.
Once underway, the dams will allow an annual saving of u$s 1,500 millions by import substitution of liquid fuels.
The project, in addition to the dams and hydroelectric plants, contemplates the construction of a line of Extra High Voltage of 170 kilometers extension that will connect the dams to the Argentine Interconnection System (SADI).
In general terms, The mega-project will generate 6,000 new direct jobs and 15,000 indirect ones.
At the beginning of December, he arrived in the country from China, the first of three Kaplan-type turbines that will boost the Cepernic Hydroelectric Power Plant, and which is estimated to be in operation between the end of 2024 and the beginning of 2025, while the entire work would be operational by 2028.
As part of this development, it is estimated that there will be a fundamental milestone during 2024 with the so-called river diversionwhich will allow to start the filling of the lake of the damMeanwhile, for this 2023, the works of soil movement and massive concreting will continue according to the simultaneous stages.
The agreement with China dates back to 2013but it was stopped from the Government of Mauricio Macri, in 2019, an “engineering redesign” and forced a renegotiation of financing and an addendum to contracts.
With recent disbursements, financing to date amounts to approximately US$1.9 billionestimated sources familiar with the progress of the work.
The Credit conditions that cover 100% of the work including VAT will begin to return after the dams begin to deliver energy to the Interconnected Systemwith which the repayment will be made practically with the sale of electricity generation.
The project – which began to be drawn up in the 1970s with a study of the terrain – consists of two dams located on the Santa Cruz River with the location of a total of eight turbinesand the construction of a 500 kV Extra High Voltage Line (LEAT) to materialize the link with the Argentine Interconnection System (SADI), at the 500/132 kV Piedrabuena Transformer Station.
Source: Ambito
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