The International Finance Corporation (IFC) has announced an investment in Central Puerto S.A., an electricity generation company in Argentina, to support projects aimed at improving the reliability and flexibility of the national power system. The financing package amounts to about $300 million and will be used to acquire shares in the 1,440 MW Piedra del Águila hydropower plant. This plant is considered critical for the stability of Argentina’s national grid and was awarded in December 2025 under the privatisation process of the Limay River hydropower assets.
Additionally, the investment covers the installation of the 150 MW Nuevo Puerto battery energy storage system (BESS). This BESS project, also referred to as the AlmaGBA project, reportedly represents the largest utility-scale energy storage contract awarded in Argentina to date. It is designed to optimise power system operations by storing electricity during off-peak periods and supplying it during peak demand, thereby reducing operational risks, particularly during summer and winter peak conditions in the Greater Buenos Aires area.
In December 2025, the International Finance Corporation announced an investment in the Kahirós green hydrogen project in Uruguay, being developed in partnership with Grupo Santander and a consortium of local companies. The financing includes a $20 million green loan to support an integrated system combining solar power generation, green hydrogen production, and electric transport, with additional backing from the United Nations’ Renewable Energy Innovation Fund. The project is scheduled to begin operations by the end of 2026.
