AES Argentina acquires a wind farm in the province of Buenos Aires

March 21, 2018

Buenos Aires, Argentina - AES Argentina will invest 130 million dollars in a project in the Province of Buenos Aires.

The company, of American capital, acquired 100% of Energética Argentina S.A. and its associated project Energética I wind farm, located in Tres Picos, south of the province of Buenos Aires.

The 100 MW project has a 20 year power sale contract with CAMMESA for 80 MW, awarded in the Renovar 2 auction. The remaining 20 MW will be sold in the industrial market.

Once the property transfer process has been concluded and the contract with CAMMESA has been signed, the company will begin construction with the commitment to inject its energy into the system in less than 20 months. The project contemplates that at least 15% of the equipment used in its construction would be of national manufacture.

The president of AES Argentina, Martín Genesio, indicated that “this acquisition is the beginning of the diversification of the company's portfolio in the country. This investment will be the beginning of a strong growth that the company has planned in the Argentine electricity sector. Our Headquarters, AES Corporation, has set a course that aims to advance towards a safer and more sustainable energy future focused on the growth of renewable energies and the acquisition and construction of this project is in aligned to that goal”.

“We are studying in detail the market for wind and solar projects in the country, our growth goals are focused on these technologies. AES Argentina is, and will continue to be, one of the most relevant players in energy matters in Argentina”, said Genesio.

With the acquisition of this wind farm, AES Argentina diversifies its portfolio by incorporating renewable energy into its current assets, with which it has been present in the country for 25 years.