BUENOS AIRES, Argentina--(BUSINESS WIRE)--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.
About Mitsubishi Hitachi Power Systems Americas, Inc.: Mitsubishi Hitachi Power Systems Americas Inc. is enabling the power plant of the future. Headquartered in Lake Mary, FL, MHPS employment in the Americas has grown from five in 1999 to more than 2,000 today. The company has large manufacturing and repair facilities in Florida, Georgia and Texas, including the world’s most modern heavy duty gas turbine and steam turbine factory in Savannah. MHPS Americas Latin American operations are headquartered in Sao Paulo, Brazil. The company utilizes repair centers throughout the Americas to provide service parts and repairs to a rapidly expanding installed base throughout the Americas and to service the fleets of other OEMs around the world. MHPS utilizes three repair centers to provide service parts and repairs to a rapidly expanding installed base throughout the Americas and to service the fleets of other OEMs around the world. Products and services for the electric power generation industry include the world’s largest and most efficient gas turbines, steam turbines, geothermal turbines, boiler and environmental control systems. MHPS is a subsidiary of Mitsubishi Heavy Industries headquartered in Tokyo, Japan. (MHVYF:US)
Learn more at www.mhpsa.com.