IFC And Central Puerto Commit To Developing Renewable Energy Projects Worth Up To US$300 Million, Featuring First Battery Storage Tender AlmaGBA

A delegation from the International Finance Corporation (IFC), part of the World Bank Group, visited Central Puerto S.A., Argentina’s largest private power generator, this week. The visit coincided with the signing of a mandate letter for potential financing of up to US$300 million, subject to IFC’s internal reviews and approvals, including consideration by its Board of Directors. The IFC team, comprising experts in technical, environmental, social, and financial areas, toured Central Puerto’s offices and facilities in Buenos Aires, Neuquén, and Bahía Blanca.

The purpose of the visit was to gain a detailed understanding of the company’s ongoing and planned projects and to assess its practices in environmental, social, and governance (ESG) standards. If approved, the financing would support Central Puerto’s strategic investment plan, which includes the installation of Argentina’s first utility-scale battery storage system awarded under the AlmaGBA tender, along with new renewable energy initiatives across the country.

Manuela Adl, IFC’s Senior Country Manager for Argentina, said the mandate letter demonstrates IFC’s commitment to strategic investments in the nation’s power sector and to enhancing the stability and reliability of the energy system. She added that by backing the first large-scale battery energy storage projects and additional renewable energy developments, IFC aims to promote market innovation while ensuring reliable, affordable, and sustainable energy for all.

Fernando Bonnet, CEO of Central Puerto, emphasized the importance of carrying out these investments under the highest environmental, social, and financial standards. He noted that such initiatives strengthen the company’s leadership in the energy transition and provide practical solutions for a safer, more sustainable, and more affordable electricity supply for all Argentines.

Central Puerto has maintained a long-standing relationship with IFC, and this mandate complements ongoing IFC Upstream work, including recent joint efforts to evaluate the feasibility of a transmission line designed to supply renewable energy to mining operations in northwest Argentina.