Pampa pays $ 20 million to take over a wind farm

Pampa Energía, Marcelo Mindlin’s group that owns several power generators, has taken control of the Mario Cebreiro wind farmlocated near Bahía Blanca.

The company, which already owned 50%, paid $ 20.5 million to its partner Castle Lake for the other half of the company Greenwind, owner of the renewable energy company with an installed capacity of 100 MW. Greenwind owes $ 65 million in debt, he said.

As Pampa explained, former owner of Edenorthe acquisition is in line with the group’s strategy of focusing on its core businesses: increasing the production and development of unconventional gas reserves and adding efficient energy generation to its portfolio.

The wind farm is located on the Provincial Road n. 51, 18 km from Bahía Blanca. It has 29 wind turbines, each with an output of 3.45 MW. It was enabled in June 2018 and sells his energy to Cammesathe wholesale company that manages the sector under the RenovAr program.

Optimistic with Sergio Massa and Flavia Royón

Last week, in a meeting with analysts to explain its quarterly report, the company’s CEO, Gustavo Mariani, assured that Pampa is “optimistic” on cabinet changes and is looking forward to working with the new energy secretary, Flavia Royon.

The new measures announced by the Minister of Economy, Sergio Massa, are positive for the company, they assured, according to the Bloomberg agency.

In that conference, the directors indicated that the company does not expect any oil production increase, but intends to maintain the current level of natural gas production of 11.2 million cubic meters per day during the summer.

The company expects its capital expenditure for this year reach the 350 million dollars and between 200 and 250 million in 2023.

The company is in the final stage of approving a new gas export permit to Chileand, they counted. The permit will allow them to export 1.5 million cubic meters of gas.

Nicolás Mindlin, Pampa’s chief financial officer, said Cammesa is delaying with energy payments. Delays have increased on average to around 90 days, compared to the previous 70 days.

In electricity generationPampa operates a current installed capacity of 4,970 MW, which is equivalent to 12% of Argentina’s installed capacity. With the ongoing expansions it will reach 5,331 MW. In transmissionthe company is a shareholder of Transener.

In oil and gas it produces 57.5 thousand barrels of crude oil equivalent per day (91% gas), with participation in 13 production blocks and 888 production wells as of March 31, 2022.

In gas, it also participates in TGS, the most important gas transport company in the country, which has 9,231 km of gas pipelines and a liquid natural gas processing plant in General Cerri.

In addition, Pampa has a stake in the refinery perfector, with an installed capacity of 25.8 thousand barrels of oil per day e 92 service stations. also owns two petrochemical plantshighly complex companies producing styrene, synthetic rubber and polystyrene, with a local market share between 91% and 99%.

In the second quarter he had Pampa a turnover of 462 million dollars34% more than in the same period of the previous year. The profit reached 66 million dollars, 39% less than in 2020, mainly due to losses in holding financial instruments. Net debt amounted to $ 902 million.

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