“IFC invests USD 300 million in hydropower and energy storage in Argentina.”
The International Finance Corporation (IFC), part of the World Bank Group, has announced a strategic investment in the Argentine energy producer Central Puerto S.A. The financing package, valued at USD 300 million, is intended to support the development of key energy assets in the country.
First, a hydroelectric power plant
A significant portion of the funding will go toward acquiring stakes in the 1,440 MW Piedra del Águila hydroelectric plant. This is one of the most important units in Argentina’s energy system. The facility is located on the Limay River and plays a strategic role in balancing the grid. The plant was awarded to the new owners in December 2025 as part of a government privatization process of hydroelectric assets.
For Argentina, whose energy mix increasingly relies on variable renewable sources, stable and dispatchable hydroelectric power remains a cornerstone of system security.
Second, the largest energy storage project in Argentina’s history
The second pillar of IFC’s investment is the construction of the 150 MW Nuevo Puerto battery energy storage system. The project is part of the AlmaGBA program and will represent the largest utility-scale energy storage contract in Argentina to date.
The energy storage system is essential for optimizing the operation of the electricity network in the Buenos Aires metropolitan area. It will allow energy to be stored during periods of low demand and released during peak hours. This solution will demonstrate its full potential during summer and winter peak demand periods.
Support for energy market reforms
IFC emphasizes that the investment directly aligns with Argentina’s ongoing energy market reforms, aimed at increasing private capital participation, improving sector competitiveness, and mobilizing international financing sources.
“These projects help attract capital, strengthen the market, and create jobs, supporting sustainable economic growth. They are crucial for the reforms and privatization processes that Argentina is implementing in the energy sector,” highlighted Alfonso García Mora, IFC Vice President for Europe, Latin America, and the Caribbean.
Fernando Bonnet, CEO of Central Puerto, added that the financing confirms the company’s long-term strategy and its role in modernizing national energy infrastructure.
Central Puerto – a leader in energy transition
Central Puerto is one of Argentina’s largest electricity producers. The company operates 16 power plants using diverse generation technologies, with a total installed capacity of 6,938 MW—accounting for around 17% of the national electricity market.
By combining large, dispatchable generation sources with modern energy storage systems, the company strengthens its market position.