The national government is advancing the tender for the private operation of the four hydroelectric dams in the Comahue region—Alicurá, El Chocón-Arroyito, Cerros Colorados-Planicie Banderita, and Piedra del Águila—and plans a meticulous analysis of the judicial and arbitration history of the bidding companies, especially those that in the past have litigated against the Argentine state in international courts.
The call for tenders, initially scheduled for September but postponed at the request of companies amid the currency volatility preceding the presidential elections, aims to renew the concessions that expired in 2023 under a scheme that includes private participation and an equity stake of up to 10% for the provinces of Neuquén and Río Negro.
The proposal incorporates a canon for the use of water resources and an income distribution mechanism that will allocate a percentage to infrastructure projects defined by the Interjurisdictional Basin Authority (AIC), with the objective of guaranteeing a sustainable and federal use of the system.
Among the companies interested in competing are the current operators—Enel Generación, Central Puerto, Aconcagua Energía Generación, and AES Corporation—as well as new players in the energy sector such as Pampa Energía, YPF Luz, Genneia, MSU Energía, the French company TotalEnergies, and Chinese conglomerates with a presence in the global hydroelectric business.
The precedent of international conflicts is a sensitive factor that the Executive considers. Among the highlighted cases is that of the American AES, the former operator of Alicurá, which this year obtained a favorable ruling for more than 700 million dollars in the ICSID, derived from the pesification of contracts that occurred in the 2000s.
Official sources indicated that while these precedents do not disqualify participation in the tender, they do require «a more careful analysis» in the evaluation.
«The country cannot risk repeating legal conflicts that ended up costing millions of dollars,» explained from the environment of the Secretariat of Energy.
The new deadline for the submission of offers was set for next November 7, and the Government expects to award the new concessions before the end of the year, in line with the energy sector's ordering plan.
