Central Puerto has acquired the Brigadier Lopez plant, a gas-fired power plant in Santa Fe, Argentina from state-owned IEASA for a total sum of $326m.
The Brigadier Lopez plant, which currently has a capacity of 280MW through a single gas turbine, is on the verge of expansion to generate 420MW of power. This will be through the introduction of a steam turbine in a combined cycle configuration, which will add 140MW of capacity to the power plant.
The expansion project is currently in the advanced stages said Central Puerto, which will pay $165m and also assume debt of $161m for the acquisition of the Brigadier Lopez plant.
According to CAMMESA’s estimations, the combined cycle technology will boost the efficiency of the power plant significantly, making it the most efficient combined cycle of Argentina in terms of heat rate at about 1,485 Kcal/KWh.
CAMMESA will buy the power capacity and the energy generated from the Brigadier Lopez plant.
Central Puerto CEO and vice-president Jorge Rauber said: “The award of the Brigadier López plant shows the strong commitment of Central Puerto, which even in a complex economic context, focuses in the future, consolidating itself as one of the leaders of the market, providing solutions to the energy requirements of the Argentina.”
The acquisition, which will be effective from 1 April, 2019, will increase the installed capacity of Central Puerto by 7% to 4.09GW.
Furthermore, it expects its consolidated installed capacity to touch 4.89GW, which will be an increase of 28% compared to its current installed capacity, after taking into account all its expansions plans.
In August 2018, the company was given approval to start commercial operations of its 99MW La Castellana wind farm in Argentina. A month later, the company announced commercial operations at the 48MW Achiras I Wind Farm in which it holds a controlling stake.
In March 2018, Central Puerto announced an approval to start combined cycle operation of the 779MW Central Térmica Vuelta de Obligado power plant.
The company claims to be the largest private sector power generation company in Argentina, as measured by generated power.