Overview

• President Javier Milei’s administration has officially called national and international bids to operate the Alicurá, El Chocón, Cerros Colorados and Piedra del Águila complexes for 30 years
• Decree 564/2024 transfers share ownership of the dams to the Secretariat of Energy and requires a public contest conducted “sin precio base” to accelerate the process
• Economy Minister Luis Caputo projects roughly US$500 million in proceeds to bolster foreign currency reserves and support broader fiscal objectives
• Agreements with Neuquén and Río Negro recognize provincial water ownership, establish royalty distribution criteria and set hydrometeorological and safety obligations for future operators
• Current concessionaires will remain in place under extensions through December 30, 2025 or until the tender concludes amid scrutiny over transparency and long-term energy governance