Argentina, China Sign Nuclear Plant Deals

Argentina, China Sign Nuclear Plant DealsArgentina, China Sign Nuclear Plant Deals

Argentina has signed two nuclear power plant construction deals with China for about $15 billion, the Argentine government said in a statement, calling the deals "a fundamental step toward diversifying our energy matrix."

The plants will add 1,750 megawatts to the energy already produced by three nuclear power plants in Argentina, Reuters reported. Mexico, Brazil and Argentina are the three Latin American countries that currently generate nuclear power.

"Between both deals we are talking about financing of close to $15 billion" over 18 years, the Argentine statement said. Argentina's Ministry of Federal Planning also announced in a press release that "the contracts and agreements on building the fourth and fifth nuclear plants in Argentina have been signed" in Antalya, Turkey, where the G20 Leaders Summit was held.

Under the agreements, China's third-generation nuclear reactor design, known as the Hualong One design, will be used in the fifth nuclear plant in Argentina, a key emerging market for Chinese companies.