The US$ 300 million financing package will support the acquisition of shares in the 1440 MW Piedra del Águila hydro plant, which is considered critical for the stability of Argentina’s national grid, and was awarded in December 2025 as part of the privatization process of the Limay river hydro plants.
The financing also includes the installation of the 150 MW Nuevo Puerto Battery Energy Storage System. The AlmaGBA project represents the largest utility-scale energy storage contract awarded to date in Argentina.
This project will optimize power system operations by helping smooth demand curves, storing energy during off-peak hours and dispatching it during peak demand, thereby reducing system risks, particularly during summer and winter peak periods in the Greater Buenos Aires area.
“By promoting greater private sector participation, this project helps attract capital, strengthen the market, and create jobs, supporting sustainable economic growth. These investments are key to supporting the reform and privatization processes that Argentina is advancing in the energy sector,” said Alfonso García Mora, IFC Vice President for Europe, Latin America, and the Caribbean.
“This financing represents a strong endorsement of Central Puerto’s long-term strategy and our commitment to the development of Argentina’s power system. It will allow us to consolidate critical assets and incorporate innovative solutions, strengthening grid reliability and supporting the integration of renewable energy in line with the reforms being implemented by the country,” commented Fernando Bonnet, Chief Executive Officer of Central Puerto.
