The Genneia-Edison consortium will pay more than USD 356 million for the state stake, well above the floor of USD 206 million set in the bidding.
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The national Government finalized a new strategic privatization and formalized the definitive exit of the Argentine State from Transener, the main high-voltage electricity transmission operator in the country. The operation was officially announced through a resolution from the Ministry of Economy, signed by Luis Caputo, and was completed this Monday with the transfer of all state shares to the consortium made up of Genneia and Edison Energía.
The winning bid reached USD 356,174,811.78, a figure well above the base price of USD 206 million that had been set for the auction. In other words, the Government secured a proposal approximately 73% higher than the established floor.
The final offer exceeded the base price by 73%.
According to official documentation, the State transferred half of the capital of Citelec, the holding company that controls Transener. Following this operation, the new consortium became a co-controlling shareholder of Citelec alongside Pampa Energía, the company led by businessman Marcelo Mindlin.
The auction was conducted through a national and international public competition. In addition to the winning consortium, Central Puerto S.A. submitted a bid of USD 301 million, and Edenor S.A. offered USD 230 million. In total, the bids received by the Ministry of Economy amounted to USD 887 million, demonstrating strong private interest in a key asset of the Argentine energy system.
Transener operates more than 12,600 kilometers of 500 kV high-voltage lines and constitutes the backbone of the Argentine Interconnection System. Together with its subsidiary Transba, it covers around 85% of national electricity transmission, with approximately 20,000 kilometers of lines, 160 transformer stations, and an availability exceeding 99.7%, according to the official data included in the resolution.
The final offer exceeded the base price by 73%.
The purchasing consortium consists of Genneia, one of the main renewable energy generators in the country, and Edison Energía, through Edison Transmisión. Genneia has more than 1,580 MW of installed capacity, distributed among wind and solar parks, while Edison has been expanding its presence in the regulated energy sector with acquisitions in distribution, generation, and electricity transport.
The operation marks another concrete advance of the privatization program promoted by the Government of Javier Milei, which aims to reduce state presence in companies where the private sector can operate with greater efficiency, investment, and technical capacity.
