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OPIC to fund investment projects in Argentine energy sector

Thursday 12 September 2019
Information for the Press N°: 
355/19

Yesterday, the Board of Directors of OPIC (Overseas Private Investment Corporation), a U.S. government agency, approved four investment projects in Argentina, which focus on the wind power, oil and gas sectors.

The projects announced yesterday are as follows:

-Vientos Neuquinos I: Development, construction and operation of a 100-megawatt wind farm in the Province of Neuquén. OPIC loan/guarantee proposal: USD 122.6 million.

-Energética Argentina: Development, construction and operation of a 100-megawatt wind farm in the Province of Buenos Aires. OPIC loan/guarantee proposal: USD 115.5 million.

-Aleph Midstream: Independent services for shale oil extraction, processing and transport and gas production in Vaca Muerta. OPIC loan/guarantee proposal: USD 150 million for up to 10 years.

-Vista Oil & Gas Argentina: Unconventional shale oil development, operation and sale, and gas production from schist reserves at the Bajada del Palo Oeste (Neuquén) concession in Vaca Muerta. OPIC loan/guarantee proposal: USD 300 million.

Thus, OPIC has allocated a total of USD 1.133 billion to 6 projects, considering the four authorized strategic initiatives (USD 688 millions), Road Corridor C, announced last 5 September on the occasion of the visit to Argentina by Ivanka Trump, advisor to the president (USD 400 million), and the funds for Plaza Logística (USD 45 million).

 

 

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