Central Puerto S.A. has obtained a $300 million financing agreement with the International Finance Corporation (IFC) to advance key energy infrastructure projects in Argentina. The funds will enable the installation of 150 MW of battery energy storage systems in the Buenos Aires metropolitan area and support the acquisition and operation of the 1,440 MW Piedra del Águila hydropower plant, positioning Central Puerto as a pivotal player in the country’s energy transition and grid modernization.
Central Puerto, Argentina’s largest private electricity generator, announced the signing of a financing mandate with IFC for up to $300 million, subject to internal approvals. The investment focuses on two strategic initiatives: the acquisition of the concessionaire operating the Piedra del Águila hydropower plant, a critical asset renewed under the latest government privatization of the Limay River plants, and the deployment of the Nuevo Puerto 150 MW battery energy storage system (BESS) in the Buenos Aires area. The BESS installation is part of the pioneering AlmaGBA auction, the country’s largest utility-scale battery storage contract aimed at enhancing grid reliability by balancing demand peaks through energy storage and release. Central Puerto also secured another BESS project at Central Costanera with 55 MW capacity through the same tender.
These developments align with Argentina’s ongoing electricity market reforms designed to increase private investment, promote renewable integration, and enhance system stability. Central Puerto’s CEO, Fernando Bonnet, emphasized the company’s commitment to high environmental, social, and governance standards alongside strengthening the energy transition. Operating 16 plants with a combined capacity nearing 7,000 MW, Central Puerto is consolidating its role through asset acquisition and innovative storage solutions to improve flexibility within the grid.
IFC’s Vice President for Latin America, Alfonso García Mora, highlighted that the financing not only attracts capital but also supports job creation and economic growth, reinforcing the private sector’s role in Argentina’s energy sector reform. The investment is expected to reduce system operational risks, particularly during seasonal peak demand periods in the Greater Buenos Aires area, and foster a more sustainable, competitive electricity market driven by advanced technologies and large-scale renewable assets.
