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Argentina agreed to finance the completion of the dams in Santa Cruz

Argentina agreed to finance the completion of the dams in Santa Cruz

Argentina agreed in China on financing for the completion of the dams in Santa Cruz, in meetings held by the Secretary of Energy, Flavia Royon, and the Minister of Economy, Sergio Massa, with different companies in that country.

Besides, Together with the leadership of the Gezhouba, Powerchina and State Grid (SGCC) companies, Royón and Massa analyzed their participation in the second section of the Néstor Kirchner Gas Pipeline, as well as new investments in renewable energy and electric transport infrastructure.

“The balance of this first day is highly positive, we address structural projects aimed at changing the country’s energy matrix, developing our industry with competitive energy costs and becoming energy exporters”Royon argued.

The first meeting was with Gezhouba, the company that is in charge of the dams in Santa Cruz. “This very important and strategic project was unlocked, which Cristina Fernández Kirchner agreed with the Chinese president at the time and which had been stopped in 2017,” said Royon.

“The financing has been agreed and we promised to continue working and resolve the new addendum so that there can be a disbursement of US$524 million before June 15,” he added.

During the meeting, the financing of the renewable energy projects of El Escorial and Antonio Morán in Chubut was also analyzed, wind energy projects that are advanced and prioritized.

The official pointed out that after the meeting held in Shanghai with the president of CGGC, Liu Huailiang, the financing for the dams of the Santa Cruz river was agreed for more than US$ 1,000 million.

This disbursement, in two tranches, is scheduled for this year to continue work on the Jorge Cepernic dam since mid-July.

In addition to Royon, Massa was accompanied at the meeting with the CGGC authorities by the president of Energía Argentina, Agustín Gerez, and national deputy Máximo Kirchner.

In this regard, Kirchner stressed that “this project will allow Argentina to substantially expand the hydroelectric generation park” and “the incorporation of more than 1,300 MW of power will in turn guarantee the diversification of the local energy matrix.”

Regarding the meeting with the Powerchina company, Royon said that “they were interested in financing the second section of the gas pipeline, there is financing committed for US$1.9 billion.”

“We have a commercial contract with them and therefore the bidding process would not be necessary, but by the will and indication of Minister Sergio Massa, this second tranche will be put out to tender because we are working on other financing alternatives,” he said.

With this company, progress was also made in the talks on the expansion of Cauchari and the Arauco park, and the lithium projects that it has in the country.

Regarding the meeting with executives from the State Grid company, the Secretary of Energy highlighted: “The AMBA 1 project is practically ready to start, it foresees almost 620 kilometers of high voltage line, a new transformer station and the readaptation of another 5 transformer stations. “.

Source: Ambito

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