Firms eye business in energy sector
Chinese energy companies are vying for a bigger role in Argentina’s new energy industry as Buenos Aires uses its Clean Energy Act to promote construction of new facilities.
State-owned Power Construction Corp of China, also known as Power China, says it will use its advanced photovoltaic technology and construction experience in the 315 megawatt Cauchari solar project in the Argentine province of Jujuy. The giant photovoltaic project, the largest such facility in South America, is the first large-scale photovoltaic power generation project in the country.
The project, the highest-altitude photovoltaic power plant in Latin America at 4,200 meters above sea level, will provide valuable experience in green energy development, create jobs for local people and promote local economic development, the company said.
Chinese companies have invested heavily in Argentina, especially in clean energy. It is a field in which Chinese companies have mastered advanced technologies in solar, wind and nuclear power.
China’s growing involvement in new energy has become an important part of the country’s Belt and Road Initiative.
“Chances are high that China’s clean energy cooperation will expand in the future as Chinese developers seek a larger footprint abroad,” said Joseph Jacobelli, a senior analyst of Asian utilities at Bloomberg.
Xu Xiaodong, deputy head of the China Electric Power Planning & Engineering Institute, said China, which has been shifting toward a cleaner energy mix, is studying advanced clean energy technologies like cleaner coal power generation and high-voltage direct-current transmission.
The region offers tremendous opportunities for Chinese clean energy companies, especially in solar, wind and nuclear power, as the markets there are still developing zero-carbon sources, said Jacobelli.
Yan Zhiyong, president of Power China, said the company, which has developed close contacts with enterprises and governments in Argentina, also will give full play to its advantages in water conservancy and hydropower projects.