Genneia secured seven projects representing the largest company allocation, followed by DQD Energy with eight projects, 360 Energy Solar with three, aluminum producer Aluar with one, and Intermepro with one. Genneia, led by Jorge Brito who also heads Banco Macro, ranks among Argentina’s leading renewable energy companies with shareholders including Delfín Carballo, Darío Lizzano, and David Martínez. DQD Energy, headquartered in San Juan province and led by CEO Federico Garín Odriozola, specializes in engineering, procurement and construction for solar installations. Automotive group Stellantis holds a 49.5 percent stake in 360 Energy Solar, founded by Alejandro Ivanissevich. Aluar’s participation through principal shareholder Javier Madanes Quintanilla marks the aluminum producer’s expansion into grid services.
The May 27 submission deadline attracted 235 technical offers totaling 8,338 MW, exceeding the procurement target by more than eleven times. Following technical evaluation and economic offer opening on June 24, grid operator CAMMESA prepared the pre-award report that formed the basis for the Energy Secretariat’s resolution. The average awarded price reached $8,427 per MW-month for capacity and operating reserves, with individual project sizes ranging from 10 MW to 120 MW. The largest single award went to Genneia’s Cruz Alta I project in NOA at 120 MW, followed by the company’s Bragado I-II installation in Buenos Aires province.
The procurement builds on the Alma-GBA program, which awarded 713 MW for metropolitan Buenos Aires critical nodes in July 2025 with investment exceeding $540 million. That program surpassed its initial 500 MW target by more than 40 percent and is currently under construction. The battery installations provide rapid response capability for demand variations, dispatch flexibility, and operating reserves to reduce service interruption probability for residential, commercial and industrial users. The government positions the expansion as part of a comprehensive plan initiated in 2024 to address grid constraints resulting from insufficient investment over the preceding two decades.
This article was curated and published as part of our South American energy market coverage.
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