Economy Minister Luis Caputo confirmed that the national government projects raising between USD 400 and USD 500 million with the privatization of the Comahue dams. The tender will be published in the coming days and will seek to transfer the share package to new private operators.
The plants involved are Alicurá, El Chocón-Arroyito, Cerros Colorados, and Piedra del Águila, located on the Limay and Neuquén rivers. Currently, they are operated by companies such as AES, Enel, Aconcagua, and Central Puerto. The original concession was granted in 1993 and expires next August.
Contributions to BCRA reserves
The privatization is part of the government's plan to generate foreign currency income to strengthen the Central Bank's reserves. "It's part of the broader plan to generate genuine dollars," Caputo explained in a recent interview.
The Ministry of Economy seeks to replicate a scheme similar to that of the 1990s: 30-year concession, state control, and private management. The goal is to complete the process before August 11, the deadline for the current temporary extension.
Agreement with the provinces: fee for water use
The initiative caused tensions with the governments of Neuquén and Río Negro, which initially reported a lack of consultation. Both provinces demanded greater participation in the process, since the dams are located within their territorial boundaries.
According to Econojournal, the political negotiation managed to unlock the conflict. It was agreed that the provinces would each receive a 1% fee for water use, one of the main local demands.
