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Argentina Finalizes 30-Year Concessions for Four Comahue Hydropower Dams, Starting Operator Transition

The Treasury expects about $707 million under concessions that preserve public ownership.

Overview

  • Contracts were signed on December 22 in Cipolletti with national energy officials and the governors of Río Negro and Neuquén, triggering an immediate transition to the new private operators under continuity, maintenance and modernization obligations.
  • Central Puerto will operate Piedra del Águila for $245 million, MSU Green Energy/BML won El ChocónArroyito for about $235.6–$235.7 million, and Edison Inversiones secured Alicurá for $162 million and Cerros Colorados after a tie-break process.
  • Río Negro and Neuquén will collect 12% in royalties on the energy sale price plus a 2% provincial water-use canon, shared equally between the two provinces.
  • The four complexes provide 4,170 MW, roughly 10% of Argentina’s electricity supply, under contracts that gradually shift output toward free-market sales, reaching full liberalization by year 21.
  • The government underscored that these are operational concessions rather than asset sales, with some plants moving from multinational operators to local investor groups.