Central Puerto plans up to $1B investments in energy and mining

Central Puerto plans to invest between $600 million and $1 billion across oil, mining, and power generation projects. The company generates more than $1.1 billion in annual revenue and currently holds 15.5% of Argentina's installed power capacity, but aims to diversify into broader energy and resources.

In mining, Central Puerto realized a $138 million profit after selling its 9.9% stake in AbraSilver for $163 million, which it had acquired in 2024 for $25 million. AbraSilver reached a $2.2 billion valuation with its Diablillos and Coipita projects. Central Puerto retains a 37% stake in 3C Lithium, which develops the Tres Cruces project in Catamarca, and is exploring early-stage copper assets in Mendoza alongside a potential transmission line in Salta and Catamarca with YPF Luz.

In oil and gas, Central Puerto acquired 100% of Patagonia Energy in April, obtaining the Aguada del Chivato and Aguada Bocarey blocks in Vaca Muerta. Patagonia Energy subsequently won the Corralera Noroeste block with a $100 million bid, comprising $22 million for Neuquén province and a $78 million investment commitment. The company targets 600,000 acres by year-end under Argentina's RIGI incentive framework, partnering with a Texas firm in Mendoza.

Central Puerto is also evaluating bids for the privatization of the Belgrano and San Martín thermal power plants, in which it already holds roughly a 10% stake alongside AES, Enel, and Pampa Energía. The Argentine government plans to sell between 65% and 68% of each plant, with estimates near $300 million each.

In recent power asset auctions, Central Puerto secured the Piedra del Águila hydro concession with a $245 million bid, topping offers from Pampa Energía-Edison ($205 million) and Enel ($170 million). However, it lost El Chocón to MSU Green Energy's $235 million bid, missed the Transener stake with its $301 million bid against Genneia-Edison's $356 million, and lost the Metrogas stake to Edenor's $780 million offer over its $540 million joint bid with Ecogas.