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Argentina

Argentina

Proposals to build wind and hydropower project in Argentinia's Santa Cruz

Argentine engineering firm Industrias Metalúrgicas Pescarmona (Impsa) has touted the possibility of building a $380 million wind and hydropower project in Santa Cruz province, reports the local press. Impsa wants to build a $290 million, 270 MW hydroelectric power plant at La Leona, complementing seasonal rainfall with a $90 million wind plant. The project would produce an average of 1000 GWh a year, three times more than the provinces' needs. The surplus would be sold to the national interconnected grid (SIN). The company said the project has been on the books for years but the conditions for implementing it are only now falling into place. Impsa declines to provide any further information. The press reports say Impsa is ready to commit $100 million but wants the provincial and federal governments to find the remaining $280 million. Santa Cruz governor Sergio Acevedo has said that although the province's cash is kept outside Argentina as the federal government negotiates with creditors to resolve the country's 2002 default on $90 billion of public debt, the local and national governments would be able to put some cash into the wind-hydro project to help it proceed.

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