This concerns the Comahue hydroelectric dam network in these Argentine Patagonian provinces, which is being put up for sale for $500 million, the Ministry of Economy, led by Luis Caputo, announced in the Official Gazette this Wednesday.
The ministerial notice points out that the entire shareholding of each of the following companies is being sold: Alicura Hidroelectrica Argentina Sociedad Anonima and El Chocon Hidroelectrica Argentina Sociedad Anonima.
The values of Cerros Colorados Hidroelectrica Argentina Sociedad Anonima and Piedra del Aguila Hidroelectrica Argentina Sociedad Anonima have also been affected, “through a public tender of national and international scope without a base,” the executive explains in the Official Gazette.
The argument used is the same as the rest of the privatizations initiated by Milei government, with the supposed goal of optimizing the management of these companies and attract private investment.
The resolution stipulates that the current concessionaires (AES Argentina, Enel Generacion El Chocon, Orazul Energy Cerros Colorados, and Central Puerto) may continue operating the dams until December 31, 2025, or until the bidding process is finalized, whichever comes first, regardless of the fact that the four hydroelectric dams currently for sale, provide 10 percent of the country’s energy generation.
Recently, the Casa Rosada (Presidential Palace) launched the privatization process for Agua y Saneamientos Argentinos (AySA), a company that guarantees running water service throughout the country, with the sale of the state’s shares on capital markets within eight months.
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