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Wed Sep 23, 2015, 08:47 PM

Argentina joins hands with China in developing clean energy

Argentina, whose energy trade deficit stood at $8 billion last year, has joined hands with China to develop renewable energy ranging from hydro and nuclear power to wind and solar power. For every percentage point increase in the share of renewable energy in the country's total energy supply, $500 million on energy imports will be saved according to the country's Renewable Energy Association

Two dams, named after former President Néstor Kirchner and former Santa Cruz Governor Jorge Cepernic, are being built along the Santa Cruz River, over 2,750 km (1,700 mi) south of Buenos Aires. Those projects were made possible by the assistance of Chinese engineers and machinery, as part of the two countries' growing partnership. The two dams reportedly have a planned construction investment of 4.714 billion U.S. dollars.

The dams, which are set to generate 6,000 direct and 1,000 indirect jobs during their construction phase, will generate an estimated 5,000 GWh a year and will supply energy for over 1.5 million homes. Once completed, the projects will save Argentina $1.2 billion annually on importing fuels and will lower the cost of industrial electricity by 6%.

Nuclear energy cooperation with China plays a key role in guaranteeing Argentina's energy security and independence, according to the state-run nuclear energy company, Nucleoeléctrica Argentina (NA-SA).

During Argentine President Cristina Kirchner's visit to China in February 2015, the two countries signed an agreement to joint build two nuclear plants in Argentina. Argentina currently has three operational nuclear power plants with a combined capacity of 1,755 MW (7% of the total), which use technology from Germany and Canada. The two new plants, with a total output of 1,800 MW, will therefore double the country's nuclear power capacity.

Under the agreement, the China National Nuclear Corporation (CNNC) will partner with Argentina's NA-SA to build the two nuclear reactors. The CNNC will contribute technology, equipment and services, and offer Argentina 70% of the funds and services needed for the project. This will be the first time for China exports nuclear technology to Latin America.

In addition to nuclear and hydropower, China has been playing an important role in other clean energy sectors in Argentina such as wind power by offering key technology and funds. Earlier this year, Chinese company Hydrochina International Engineering Co. signed a deal with the La Rioja Province worth of more than $300 million to raise Arauco Wind Farm's installed capacity by 104 megawatts.

"In Argentina, the energy matrix is mainly composed of fossil fuels and to a lesser extent hydraulic and nuclear energy. This makes the relative cost of energy fluctuate based on the quantity of fuel available. If we don't have it then we need to import it with a constant flight of capital to balance the matrix," said Juan Fernando Carbel, president of Arauco Wind Farm.

At: http://news.xinhuanet.com/english/2015-09/16/c_134627568.htm

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Reply Argentina joins hands with China in developing clean energy (Original post)
forest444 Sep 2015 OP
Judi Lynn Sep 2015 #1
forest444 Sep 2015 #2

Response to forest444 (Original post)

Wed Sep 23, 2015, 09:34 PM

1. Enormous change ahead for Argentina. They will recoup their investment quickly.

Looks as if they really can't afford not to push ahead.

C.F.K. is tackling an ambitious, and necessary goal. Good for her.

(I remember her recent remark to Dilma regarding Argentina's future place with BRIC.)

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Response to Judi Lynn (Reply #1)

Wed Sep 23, 2015, 09:51 PM

2. It's always good to be pragmatic

This is the right kind of foreign investment (rather than fickle speculation and narcodollars). China's sowing a lot of good will as well.

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