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Argentina Awards Comahue Hydropower Concessions, Secures $706.9 Million in Bids

Winners now move to finalize 30-year contracts that phase in free‑market sales with significant upgrade obligations.

Overview

  • Energy officials confirmed final offers totaling US$706,885,298 for the Alicurá, El Chocón, Piedra del Águila and Cerros Colorados complexes.
  • Edison Energía won Alicurá (US$162 million) and Cerros Colorados after an improvement bid to US$64,174,002; Central Puerto took Piedra del Águila (US$245 million) and BML Inversora won El Chocón (about US$235.7 million).
  • The Cerros Colorados result followed a mandated improvement round because the top two initial bids were within 10%, allowing Edison to overtake BML.
  • The four plants total roughly 4,170 MW—about 10% of national supply—underlining the scale of modernization required for aging infrastructure.
  • Contracts span 30 years with sales shifting from 95% regulated to fully free by year 21, provinces receive 12% royalties plus a 2% canon, and authorities target final adjudication and operational transition before year‑end as Edison signals roughly US$200 million in additional investments.