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Local officials said they had sought help from home, the United States and Europe, but failed. They say the huge scale of the project and the financial difficulties facing Jujuy have scared away potential lenders and partners. Huhui province is one of the poorest areas in Argentina.
The Export-Import Bank of China does not think so. The state-owned lender provided 85% of the funding for the nearly $400 million project. People familiar with the terms said that the 15-year loan had an annual interest rate of only 3%, which was "cheap money" for Huhui Province. However, Huhuyi must buy nearly 80% of its raw materials from Chinese suppliers.
Chinese suppliers, including Huawei, a telecom giant, are being strongly criticized by President Trump. Some U.S. government officials said Huawei's equipment provided a "back door" for the Chinese military to steal user information or disrupt its network, but no evidence was provided. Huawei provides inverters (converters/inverters) in Huhuyi Province, which can convert solar energy into AC, and is an important component of the power grid.
The project, called Cauchari, proves that China is increasingly influential in supporting large-scale projects in cash-strapped emerging markets. It will also help China consolidate its position as a global leader in clean energy technology.


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