Rurelec PLC

Businesses

Argentina

Energia del Sur/ 'Comodoro'

project detail cascade2

Project Name

Energia del Sur/ 'Comodoro'

Location

Comodoro Rivadavia, Patagonia

Capacity

136 MW

Technology

CCGT

Equipment

2 x GE MS6001B gas turbines

Fuel

Natural Gas (locally sourced)

Additional details

Rurelec owns 50 per cent. of Energia del Sur S.A. ("EdS"), which owns and operates a 136 MW CCGT power plant in Southern Patagonia, Argentina.

Country

project maps peru

Location

Southern South America, bordering the South Atlantic Ocean, between Chile and Uruguay

Population

42,610,981 (July 2013 est.)

Languages

Spanish (official), Italian, English, German, French, indigenous (Mapudungun, Quechua)

Government Type

Republic

Capital

Buenos Aires

Administrative divisions

23 provinces (provincias, singular - provincia) and 1 autonomous city*; Buenos Aires, Catamarca, Chaco, Chubut, Ciudad Autonoma de Buenos Aires*, Cordoba, Corrientes, Entre Rios, Formosa, Jujuy, La Pampa, La Rioja, Mendoza, Misiones, Neuquen, Rio Negro, Salta, San Juan, San Luis, Santa Cruz, Santa Fe, Santiago del Estero, Tierra del Fuego - Antartida e Islas del Atlantico Sur (Tierra del Fuego), Tucuman note the US does not recognize any claims to Antarctica

Legal system

Civil law system based on West European legal systems; note - efforts at civil code reform begun in the mid-1980s has stagnated

Electricity - production

116 billion kWh (2009 est.)

Electricity - consumption

104.2 billion kWh (2009 est.)

Country comparison to the world

32

Economy - overview:

Argentina benefits from rich natural resources, a highly literate population, an export-oriented agricultural sector, and a diversified industrial base. Although one of the world's wealthiest countries 100 years ago, Argentina suffered during most of the 20th century from recurring economic crises, persistent fiscal and current account deficits, high inflation, mounting external debt, and capital flight. A severe depression, growing public and external indebtedness, and an unprecedented bank run culminated in 2001 in the most serious economic, social, and political crisis in the country's turbulent history. Interim President Adolfo RODRIGUEZ SAA declared a default - at the time the largest ever - on the government's foreign debt in December of that year, and abruptly resigned only a few days after taking office. His successor, Eduardo DUHALDE, announced an end to the peso's decade-long 1-to-1 peg to the US dollar in early 2002. The economy bottomed out that year, with real GDP 18% smaller than in 1998 and almost 60% of Argentines under the poverty line. Real GDP rebounded to grow by an average 8.5% annually over the subsequent six years, taking advantage of previously idled industrial capacity and labor, an audacious debt restructuring and reduced debt burden, excellent international financial conditions, and expansionary monetary and fiscal policies. Inflation also increased, however, during the administration of President Nestor KIRCHNER, which responded with price restraints on businesses, as well as export taxes and restraints, and beginning in 2007, with understating inflation data. Cristina FERNANDEZ DE KIRCHNER succeeded her husband as President in late 2007, and the rapid economic growth of previous years began to slow sharply the following year as government policies held back exports and the world economy fell into recession. The economy in 2010 rebounded strongly from the 2009 recession, but has slowed since late 2011 even as the government continued to rely on expansionary fiscal and monetary policies, which have kept inflation in the double digits. The government expanded state intervention in the economy throughout 2012. In May the Congress approved the nationalization of the oil company YPF from Spain's Repsol. The government expanded formal and informal measures to restrict imports during the year, including a requirement for pre-registration and pre-approval of all imports. In July the government also further tightened currency controls in an effort to bolster foreign reserves and stem capital flight.

Information taken from CIA Worldfact Book

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