Buenos Aires, December 23, 2025 — The International Finance Corporation (IFC), a member of the World Bank Group, announced a strategic investment in Central Puerto S.A., a leading electricity generation company in Argentina, to develop projects that will increase the reliability and flexibility of the national power system, enable greater integration of renewable energy, and enhance the country’s energy competitiveness.
The US$300 million financing package will support the acquisition of shares in the 1,440-megawatt (MW) Piedra del Águila hydropower plant, which is considered critical for the stability of Argentina’s national grid and was awarded in December 2025 as part of the privatization process of the Limay River hydropower plants.
The financing also includes the installation of the 150 MW Nuevo Puerto battery energy storage system (BESS). The AlmaGBA project represents the largest utility-scale energy storage contract awarded to date in Argentina. This project will optimize power system operations by helping smooth demand curves—storing energy during off-peak hours and dispatching it during peak demand—thereby reducing system risks, particularly during summer and winter peak periods in the Greater Buenos Aires Area (GBA).
“By promoting greater private sector participation, this project helps attract capital, strengthen the market, and create jobs, supporting sustainable economic growth. These investments are key to supporting the reform and privatization processes that Argentina is advancing in the energy sector,” said Alfonso García Mora, IFC Vice President for Europe, Latin America, and the Caribbean.
“This financing represents a strong endorsement of Central Puerto’s long-term strategy and our commitment to the development of Argentina’s power system. It will allow us to consolidate critical assets and incorporate innovative solutions, strengthening grid reliability and supporting the integration of renewable energy in line with the reforms being implemented by the country,” said Fernando Bonnet, CEO of Central Puerto.
The investment directly supports ongoing electricity market reforms and will contribute to stabilizing the grid, reducing system costs, and improving Argentina’s competitiveness and productivity by promoting private investment and the large-scale mobilization of international capital.
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2025, IFC committed a record $71.7 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.
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About Central Puerto S.A.
Central Puerto is a leading electricity generation company in Argentina, operating 16 power plants across a diversified range of technologies. The company employs more than 1,300 people and holds approximately 17 percent market share, supported by strong operational excellence and profitability. Its mission is to generate electricity efficiently and sustainably, in harmony with the environment, while contributing to meeting energy demand and managing its businesses in a way that creates value not only for the company, but also for society. Central Puerto currently has an installed generation capacity of 6,938 MW. For more information, please visit www.centralpuerto.com.
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