General Electric, YPF Secure Financing

General Electric’s GE Energy Financial Services unit and YPF’s YPF EnergĂ­a Electrica unit secured $220 million financing for two jointly owned thermal power projects in Argentina, Tucuman and Loma Campana II. Citi, Credit Suisse and Export Development Canada jointly led the financing, the first for a power plant project in Argentina in almost 20 years, the companies said on Wednesday.

The 267-megawatt Tucuman and the 107-megawatt Loma Campana II projects are both more than halfway through construction. Tucuman will be powered by a GE 9F.04 gas turbine and is due to begin commercial operations in February 2018. Loma Compana will be powered by a GE LMS100 gas turbine and is scheduled to begin commercial operations in December 2017.

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