Loading grant details…
ICBC provides $9.6 million USD in debt financing to AES Argentina Generación S.A. for 675MW Central Térmica San Nicolás (CTSN) Thermal Power Plant and 845MW AES Paraná Thermal Power Plant
| Funder | Industrial and Commercial Bank of China (Argentina) Limited (ICBC (Argentina)) |
|---|---|
| Recipient Organization | AES Argentina Generación S.A. |
| Country | Argentina |
| Start Date | Jan 01, 2017 |
| End Date | Dec 25, 2032 |
| Duration | 5,837 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 88039 |
Grant Description
ICBC provides $9.6 million USD in debt financing to AES Argentina Generación S.A. for 675MW Central Térmica San Nicolás (CTSN) Thermal Power Plant and 845MW AES Paraná Thermal Power Plant As of January/February 2017, AES Argentina Generación S.A. — the Argentine subsidiary of US electricity provider AES — had maturing, outstanding, short-term debts to Industrial and Commercial Bank of China (Argentina) S.A. and Banco Itau Argentina S.A. worth $19.2 million.
The commitment dates, face values, and borrowing terms of the short-term loans that were originally contracted are unknown.
It is known that the borrower was to use the proceeds of these loans for (i) import financing arrangements related to the import of coal for electricity generation at the 675MW Central Térmica San Nicolás (CTSN) Thermal Power Plant in the province of Buenos Aires and (ii) to cover capital expenditures associated with the maintenance cycle at he 845MW AES Paraná Thermal Power Plant in San Nicolás within the province of Buenos Aires
Staff Comments
- Given that AidData does not know how much Industrial and Commercial Bank of China (Argentina) S.A. and Banco Itau Argentina S.A. contributed to the syndicated loan, it assumes equal contributions of $9.6 million for the time being.
- The China-Latin America Commercial Loans Tracker, which is produced by the Inter-American Dialogue, does not capture this ICBC debt
Sources & References
- AES Argentina Generación S.A.
- China-Latin America Finance Database
- Argentina
- PROGRAMA DE OBLIGACIONES NEGOCIABLES SIMPLES (NO CONVERTIBLES EN ACCIONES) POR HASTA US$500.000.000 Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
AES Argentina Generación S.A.
Interested in applying for this grant?
Complete our application form to express your interest and we'll guide you through the process.
Apply for This GrantQuick Summary
Related Grants
