Minas Argentinas S.A., integrated into Aisa Group, completed its first capital market issuance by raising $3.6 million through dollar-denominated negotiable obligations to finance part of the Parque Solar Calicanto in San Luis. The project, which aims to supply over 80,000 homes with renewable energy, is progressing steadily with construction expected to conclude by December 2026, and is positioned to strengthen the company’s energy portfolio alongside its mining operations.
Minas Argentinas S.A., acquired by Canadian-based Aisa Group in September 2023, successfully debuted in the capital markets with a $3,605,071 bond issuance at an 8% interest rate, maturing in 12 months. The proceeds will partially fund the Parque Solar Calicanto, a 51 MWp photovoltaic facility located in the department of Belgrano, San Luis. The park is designed to generate approximately 110.1 GWh annually, enough to power more than 80,000 households. Construction is underway on a 71.9-hectare site, with over $10.5 million already invested toward the park’s total budget of $36.8 million. Essential components including 80,000 solar panels, transformers, tracking systems, inverters, and monitoring infrastructure have been procured and delivery of equipment is in progress to facilitate assembly debuting in March 2026.
The solar park will connect to the Argentine Interconnection System (SADI) through two underground 33 kV lines and a new transformation station at Nogolí. Over half of the park’s expected electricity production is pre-contracted under offtake agreements. Minas Argentinas’ management views the bond issuance as a significant milestone embedding investor confidence reflecting the company’s A+ (arg) credit rating by FIX SCR and signaling a trajectory of institutional consolidation reinforced by Aisa Group’s backing.
Besides renewable energy initiatives, Minas Argentinas remains active in mining through its Gualcamayo mine in San Juan, with updated resource estimates and a planned $650 million investment in the Deep Carbonates Project (DCP). The diversification into solar underlines the company’s strategic shift to integrate sustainable energy assets into its portfolio, supporting Argentina’s energy transition while expanding its industrial footprint.
