Tenaris to invest $190 million on new wind farm in Argentina
The building of Tenaris company is seen at the UFRJ Technology Park in Rio de Janeiro, Brazil, June 7, 2016. REUTERS/Pilar Olivares
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BUENOS AIRES, Feb 17 (Reuters) - Steel pipes manufacturer Tenaris (TENR.MI) will spend $190 million on the construction of a new Argentine wind farm expected to come online by mid-2023, the company said in a statement on Thursday.
The nearly 101 megawatt project will be built in the city of Adolfo Gonzales Chaves in Buenos Aires province and generate 509 gigawatt hours (GWh) of electricity annually, according to the statement.
Tenaris, a leading manufacturer of pipes and related services for the global energy industry, touted the project as a means to reduce pollution, noting that it will lower carbon dioxide (CO2) emissions by 152,000 tonnes per year while suppling 50% of the power needed by the company's Campana city plant.
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