Energy group Sociedad Argentina de Energia S.A. (Sadesa) plans to invest US$650 million over the next five years to increase energy supplies in Argentina.
Sadesa Managing Director Horacio Turri said March 8 that US$500 million would fund a hydroelectric project in the Andes, while US$150 million would be used to increase the generating capacity of the 2,165-MW Central Puerto thermal plant, which Sadesa controls.
“The group has made the decision to considerably increase the supply of generated energy in the next five years,” Turri told a news conference following talks with officials from the government.
Sadesa bought a controlling stake in Central Puerto last November. It subsequently purchased the Argentina assets of CMS Energy Corp. of the United States, including CMS’ stake in the 1,320-MW El Chocon hydroelectric project. (HNN 2/5/07)
It also acquired from Argentina’s Petrobras Energia and French energy company Total a controlling interest in Hidroneuquen, which holds 59 percent of the 1,400-MW Piedra del Aguila hydroelectric project on Argentina’s Limay River.
Argentina, Latin America’s No. 3 economy, is working to avert energy shortages as demand surges along with economic growth, which reached about 9 percent in each of the last four years. Supplies have been limited by low investment and near-frozen tariffs since a 2001-2002 economic crisis.