Genneia and Edison Energía win the bid for the privatization of Transener, Argentina's largest electricity transporter, after the results of the opening of economic envelopes were confirmed.
The consortium of companies led by Jorge Brito and the Neuss family prevailed over the offers presented by Central Puerto SA and Edenor SA in the final phase of the ENARSA asset sale process.
Through this transaction, the winning consortium formalizes its entry into the capital of the transmission company with an offer of USD 356.17 million , significantly exceeding Central Puerto's USD 301 million and Edenor's USD 230 million . With this structure, Genneia and Edison Energía will assume co-control of the operation alongside Pampa Energía.
Therefore, the privatization process of the assets of Energía Argentina SA will provide the State with a net income significantly higher than the USD 206 million initially projected.
It's worth remembering that Transener plays a fundamental role in the Argentine electrical system, managing over 12,600 kilometers of 500 kV lines and more than 160 transformer substations throughout the country. The network involved includes its subsidiary Transba and forms the backbone of the Argentine Interconnected System (SADI), spanning 3,700 kilometers from north to south.
The official confirmation of the award by the Ministry of Economy is expected in May, according to the established schedule, completing a central stage within the privatization process of assets and activities of Energía Argentina SA (ENARSA).
What businesses does the winning joint venture have?
Genneia, the country's largest renewable energy generator (1,580 MW installed + 170 MW solar and 40 MW BESS under construction ), and whose president is businessman and former River Plate president Jorge Brito, has partnered with the Edison Group to compete in this bid under the Edison Transmisión banner. The Edison Group is the energy holding company created last year by brothers Juan and Patricio Neuss , in association with Rubén Cherñajovsky and Luis Galli, key figures in the Newsan Group, one of the largest electronics manufacturers in Tierra del Fuego. The holding company has already announced a rapid growth strategy that includes plans to invest USD 300 million in energy infrastructure over the next few years.