Japan Bank for International Cooperation to Take Part in Mitsubishi Hitachi Power Systems Technical Conference in Argentina
Participation Signals JBIC Support of Argentina Ministry of Energy and Mining Projects
Buenos Aires, Argentina – (April 17, 2017) As the need for clean, reliable energy continues to grow in Argentina, the Japan Bank for International Cooperation (JBIC) is planning to take part in a technical conference for power generators being hosted on April 18 in Buenos Aires by Mitsubishi Hitachi Power Systems Americas (MHPS Americas).
JBIC is a policy-based financial institution of Japan and conducts lending, investment and guarantee operations, complementing activity by private sector financial institutions. JBIC has supported a number of highly efficient power generating projects all over the world and is now interested in expanding its activities in Argentina through the Ministry of Energy and Mining’s second thermal power auction. MHPS Americas will work in cooperation with JBIC and local developers on large power projects in Argentina.
“Mitsubishi Hitachi Power Systems Americas is proud to host the Japan Bank for International Cooperation at our upcoming technical conference in Buenos Aires,” said Paul Browning, President & CEO of MHPS Americas. “We look at this as an important element of providing the lowest cost of electricity to meet the Argentinian government’s plans to expand the availability of affordable and reliable power for residential and commercial use.”
JBIC funds will be earmarked for use for large combined cycle power plant utilizing MHPS Advanced Class Gas Turbines. The MHPS M701JAC, with a world record rating of 717MW, offers energy producers a revolutionary efficiency of greater than 63 percent. This level of efficiency will create a clean source of energy to help fuel the Argentinian economy for decades to come
“JBIC is very appreciative of being invited to this technical conference. Argentina is one of the most interesting countries for JBIC to support projects in power generation sector. JBIC will continue to support the realization of projects working with MHPS.” said Ryuta Suzuki, Director, New Energy and Power Finance Department, Infrastructure and Environment Finance Group.
JBIC financing for projects in Latin America range from mineral resource development, energy efficiency to renewable energy projects. Latin America is second only to Asia as the recipient of JBIC project funding with a total Latin America and the Caribbean investment by JBIC valued at ¥10,223.1 billion in 4,164 projects at the end of March 2016.