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Argentina Receives Nine Bids to Reprivatize Four Comahue Hydropower Complexes

Regulators now vet qualifications before opening price offers in a process meant to shift operations to private hands on long-term contracts.

La Central Hidroeléctrica Alicurá, de AES, en Río Negro.
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Overview

  • Nine bidders submitted offers for 30-year control of the Alicurá, El Chocón–Arroyito, Piedra del Águila and Cerros Colorados complexes, according to the Energy Secretariat.
  • The bidders are IPS Renewal, Central Puerto, Central Costanera, Hidroeléctrica Futaleufú (Genneia, Aluar and Futaleufú), BML Inversora, Enel Argentina, AES, Pampa Energía and Edison Inversiones.
  • The tender grants 30-year concessions via the sale of 100% of each operating company’s shares, and rules bar any single group from winning more than two complexes.
  • Officials will review technical qualifications, then open economic bids in the coming weeks, with pre-awards expected soon and final handovers likely late 2025 or into early 2026.
  • The government projects roughly US$500 million in proceeds, while Neuquén and Río Negro are set to receive 12% in royalties plus a 2% water-use canon under the scheme.