YPF signs deal with General Electric to invest in power project in Tucuman

State-owned YPF and US General Electric (GE) have signed a US$170 million agreement for the development of a power plant in Tucumán province, Argentina.

The 260 MW plant will use GE's heavy-duty gas turbine F9.04, which is equipped with "Dry Low Nox" technology to reduce gas emissions.

The new facility will be hooked to the National Interconnected Electrical Grid. It is expected to begin commercial operation by 2018. 

This project was signed pursuant to an auction for power plant projects launched by the Government last May.

According to sources, the GE vice-president stated:

“We will be able to produce reliable energy in the short term, taking advantage of opportunities to localize energy production, including thermal and renewable energies. This could directly and indirectly generate 10,000 new jobs in the next few years.”