The Argentine company IMPSA, with over a century of experience and recognized for its solutions in renewable energies, has installed more than 50,000 MW of capacity worldwide. It stands out for developing turnkey projects, encompassing everything from design to the commissioning of complex installations in hydroelectric, solar, wind, and nuclear energy.
IMPSA participates in strategic projects such as the manufacture of hydroelectric turbines, nuclear components, and the CAREM nuclear reactor. The recent privatization of the company, completed on February 11, raises concerns about the future of nuclear and renewable technology in Argentina. The transfer of 84.9% of the shares to the U.S. fund Industrial Acquisitions Fund has generated questions about technological sovereignty and the country's energy strategy.
Industrial Acquisitions Fund is a fund specialized in restructuring companies in crisis, a leader in engineering and manufacturing hydroelectric turbines, and involved in projects such as the Yacyretá dam and nuclear power plants. The offer from ARC Energy, the main partner of IAF, raised doubts within the Argentine government, especially regarding the renegotiation of contracts with state-owned companies.
The privatization operation included the transfer of 63.7% of national state shares, 21% from the province of Mendoza, and 10% from creditors. ARC Energy plans to capitalize the company with 27 million dollars and renegotiate a debt exceeding 570 million dollars. The uncertainty surrounding the future of IMPSA focuses on whether investment in technology and local production will be prioritized or whether outsourcing and exporting knowledge will be favored.
The privatization of IMPSA raises concerns about technological sovereignty, export capacity, dependence on the private sector, and the job stability of the current 660 employees. The history of past privatizations in Argentina leaves doubts about the long-term impacts and industrial development of the country. Handing over IMPSA to a foreign fund poses a challenge for the future of the Argentine energy and nuclear sector.
