The International Finance Corporation (IFC) and Argentina-based power producer Central Puerto SA are advancing major investments aimed at strengthening Argentina’s hydropower and power system infrastructure, with a focus on grid stability, flexibility, and renewable energy integration.
IFC, a member of the World Bank Group, announced a US$300m financing package to support Central Puerto’s acquisition of a stake in the 1,440MW Piedra del Águila hydropower plant. The facility, located on the Limay River, is a core asset for Argentina’s national grid and was awarded in December 2025 as part of the government’s privatization process for hydropower assets on the river.
The financing also supports the development of a 150MW battery energy storage system (BESS) known as Nuevo Puerto, part of the AlmaGBA project. The project is the largest utility-scale energy storage contract awarded in Argentina to date. The system is designed to improve grid operations by storing electricity during periods of low demand and supplying it during peak demand, reducing operational risks during summer and winter peak periods in the Greater Buenos Aires Area.
“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.
According to IFC, the investment aligns with Argentina’s ongoing electricity market reforms and is expected to contribute to grid stability, lower system costs, and improved competitiveness by supporting private investment and mobilizing international capital at scale.
