YPF plans to invest U.S. $2 billion in renewable energy over the next five years
YPF has announced an ambitious plans to move from being a traditional hydrocarbon producer to a comprehensive energy company. In this scenario YPF Luz subsidiary of the company controlled by YPF- works as a bridge towards the future of renewable energy.
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YPF Luz has a generation complex in operation in Tucumán, two thermal power plants in Neuquén, one for cogeneration in La Plata and Dock Sud; and develops wind energy parks in Chubut and Santa Cruz. |
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With an investment plan of U.S. $ 2 billion and after joining General Electric as a partner, the company is confident of positioning itself, towards the horizon of 2020, as the third largest energy generator in the country. The main objective is to become a profitable, sustainable, efficient company that wants to position itself within the five largest energy generating companies in Argentina, in addition to leading the renewable energy sector. YPF Luz wants to reach 5,000 megawatts (MW) of installed power. To achieve this goal the company will embark in buying assets. It already has two large combined cycle projects in the pipeline and other renewable energy projects that we are working on. It has to grow from the 2,400 Mw that it has today in operation plus construction to 5,000 Mw. The market is ripe for M&A. Today there are some 4,600 Mw of renewable projects, between developments and signed and unsigned PPAs. There are several opportunities under the RenovAr program. Many of them with financial difficulties where we can play an active role. YPF AND DAPSA FORMALLY TAKE OVER OIL FUELS The Argentine Court in the bankruptcy of the Indalo Group accepted the offer to purchase its Oil assets by YPF and DAPSA. Both companies began to operate officially as brand new holders of the assets of the former Indalo. DAPSA will take charge of the service stations while YPF will manage the fluvial plant and the storage tanks. YPF and DAPSA began operating the Oil assets acquired in the framework of a national and international bidding in the process of bankruptcy of, a company of the Cristobal Lopez Group. In this way, both companies are committed to carrying out a plan that ensures the sustainability of the business. |
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YPF will take over the operation of the fluvial terminal that will allow it to boost its supply in the core zone of the country and leverage its logistical network with the San Lorenzo terminal that YPF has in the area. Likewise, it will use the storage capacity for its own logistics operations, both for the supply of the local market and for the eventual expansion in regional markets, maintaining the availability of storage for other companies |
At the refinery, YPF will continue the remediation plans that Oil was carrying out in accordance with the requirements formulated by the provincial environmental authority. Likewise, YPF will implement with its technical teams the plans to improve the condition of a safe shutdown of the plant.
The Service Station network will continue to be supplied by DAPSA, whose management will allow an efficient supply of products to its customers during the period of temporary operation.
This preliminary process does not include, at this time, any change in the image of the vending machines or the commercialization conditions, maintaining the same characteristics as during the administration of the bankruptcy.
It should be remembered that YPF and DAPSA are in charge of the management of the assets of Oil since June of this year, within the framework of the bankruptcy proceeding and that, on October 3, both companies were awarded the assets acquired in the bidding process ordered by the judge.
