The Government of Javier Milei approved the complete privatization of Energía Argentina S.A. (Enarsa), the state company involved in various firms in the energy sector. The measure was formalized through Decree 286/2025, published in the early hours of today in the Official Gazette.
This way, the libertarian administration initiated the process of selling the company, starting with the sale of 50% of the shares of Citelec S.A., the company that controls Transener, the main operator of the high-voltage electricity transmission system in the country.
According to the provisions, the sale will be carried out through a public tender with both national and international participation, supported by articles 17 and 18 of the State Reform Law 23.696.
This initiative is part of the framework of the Basic Law and constitutes the first phase of a broader plan for the withdrawal of the State from the direct management of public companies. The decree clarifies that the goal is to transfer the ownership of Enarsa "through the separation of activities and assets of each business unit", implementing a "staged procedure" that ensures operational continuity and the development of ongoing projects.
The adopted model responds to a gradual strategy aimed at encouraging the participation of private capital in areas where state administration didn't achieve the expected results. "State intervention has been unable to provide an efficient and profitable solution for the National State", the decree's rationale argues.
Pampa, the firm controlled by Marcelo Mindlin, currently owns the remaining 50% of Citelec, but won't have priority to acquire the shares that will be put up for sale.
