The Ministry of Economy, led by Luis Caputo, authorized the sale of the shares of the hydroelectric plants Alicurá, El Chocón, Cerros Colorados, and Piedra del Águila. The measure, published in Resolution 1200/2025 of the Official Gazette, allows the transfer of the share package through a public tender.
This process is open to national and international bidders, with no defined base price.
Legal Framework and Procedure
The sale is framed within decrees 286/2025 and 590/2025, which enable the privatization of these state-controlled plants. The Secretariat of Energy, together with ENARSA, will coordinate the transfer.
Additionally, the Public Companies Transformation Agency will supervise the process and will hire a public bank to appraise the assets.
El Gobierno autoriza la privatización de las hidroeléctricas en el Comahue
Public Tender on Digital Platform
The tender will be managed through CONTRAT.AR, where interested parties will access the necessary documentation. The authorities clarified that bidders must conduct their own research, since the State won't accept claims regarding the published information.
Schedule and Dissemination
The call will be published in the Official Gazette, the Ministry of Economy's website, and DGMARKET, the procurement portal of the World Bank. There will be a minimum period of 45 days to receive bids, with inquiries accepted until October 13, 2025 (5 p.m.) and submission of proposals until October 23, 2025 (4 p.m.). The opening of bids will take place that same day at 5 p.m.
Role of Technical Entities
El Gobierno autoriza la privatización de las hidroeléctricas en el Comahue
CAMMESA and ENARSA will provide technical assistance during the process. An Evaluation Committee, composed of Damián Sanfilippo, Maximiliano Bruno, and Magali Ávalos, will review the bids. The alternates will be Horacio Veller, Francisco Azumendi, and Ana Díaz Martínez.
Economic and Regional Impact
The sale could generate up to USD 500 million, according to the Ministry of Economy. Meanwhile, the governors of Río Negro, Alberto Weretilnek, and Neuquén, Rolando Figueroa, agreed to 30-year concessions.
This includes new royalties, a fee for water use, and a fund for works authorized by the AIC.
Terms and Continuity
The concessions for the plants are extended until December 31, 2025. If the transaction is not completed, the term could be extended to ensure their operation.
