Argentina's government said Sunday that it had worked out deals with the China National Nuclear Corporation (CNNC) to build two nuclear power plants, which will double the country's generation capacity from nuclear power.
The plants will add 1,750 MW to the country's nuclear fleet, which currently is comprised of three operating nuclear plants.
Financial arrangements, which have substantial support from Chinese banks, have been reported as a $6 billion deal for one plant and a $14 billion to $15 billion price tag for both plants. Eighty-five percent of the financing is to be supplied by Chinese banks at a 6.5 percent per year interest rate over 18 years, Xinhua News Agency reported.
The supply chain is expected to include 32 percent Chinese parts and 62 percent parts from Argentina.
The deals for the plants are a follow up of cooperation agreements signed by the two countries in 2014. The Latin American Herald Tribune said the pacts were signed by Nucleoelectrica Argentina President Jose Luis Antunez and CNNC head Quian Zhimin with government officials present. They were signed “within the framework of the G20 summit,” which is currently underway in Antalya, Turkey.