PowerChina to consider wind projects in Argentine La Rioja

Nov 11, 2014 - Argentina's La Rioja province signed a memorandum of understanding and a letter of intent on Friday to collaborate for local wind power projects with Chinese engineering and construction firm PowerChina (SHA:601669) and its subsidiary HydroChina Corp.

La Rioja needs financing for wind projects totaling over 600 MW, the provincial government said, quoting Juan Carbel, manager of local state-owned Arauco wind farm.

The group is especially interested in the planned expansion of the 50.4-MW Arauco wind farm to 100 MW, which requires financing and technology, according to La Rioja's production and economic development minister, Javier Tineo.

Apart from wind power, the government presented investment opportunities linked to solar energy and the Blanco river.

Last month HydroChina said it plans to develop 500 MW of wind projects in Buenos Aires, in cooperation with US power generation and infrastructure firm Atlantic Power Corp (NYSE:AT).

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