Aluar seeks to consolidate a new phase of growth in the Argentine electricity market. After submitting one of the most competitive bids in AlmaSADI , the company is already planning new renewable energy developments, energy storage projects, and other business ventures for the market, with the goal of becoming one of the leading private players in the sector.
"We are experiencing this moment with great excitement and enthusiasm. The company has a very strong intention to become a major player in the energy sector, without forgetting its core business, which is aluminum," said Gabriel Vendrell , Energy Resources Manager at Aluar , in an interview with Energía Estratégica.
The company appears among the companies with the highest probability of being awarded in AlmaSADI (among more than 230 bids for 8300 MW) , after bidding on the 50 MW BESS Goya project in Corrientes at a price of USD 8498 per MW-month , although official confirmation is still pending.
But the strategy doesn't end with AlmaSADI. The company plans to launch the La Flecha wind farm in October, build a 25 MW solar park in the province of Buenos Aires, is working on a hybrid project in Puerto Madryn, and has opportunities under analysis to further expand its generation portfolio.
"We have other projects in the pipeline and are analyzing them, no longer for aluminum production, but projects for the Futures Market (MATER) or spot market. We own approximately 55,000 hectares, of which we are only using 20,000, in the La Flecha and El Llano parks. So we have a very large growth potential," the interviewee stated.
How does the equation change in the spot market? “For wind power, it might be more random, but for solar, which delivers energy during peak summer times, there could be attractive prices. We also have to see how gas prices evolve in Argentina, but at least for the first two or three years, I think the average annual spot price will beat the MATER,” he explained.
However, the main constraint remains infrastructure, considering that the sector is still awaiting the launch of the electricity transmission tenders.
"It would be a great victory for us to be able to carry out more projects. There isn't a mandate from management saying they want to invest, for example, USD 300-400 million, but I'm sure that if these projects become serious, we will certainly pursue them," he affirmed.
Aluar's energy expansion starts with the AlmaSADI tender and what was already done in the AlmaGBA call in the middle of last year, where the BESS San Fernando project, of 30 MW, to be installed in the Buenos Aires Metropolitan Area, was awarded.
"We have an advantage over other bidders, given that we already have a storage project, so we know the costs. We already had firm quotes and practically all the supply and maintenance contracts finalized with a supplier," Vendrell noted.
"We even did a market analysis of how the competition might see it and we realized that if we went with a very conservative rate, we would be left out," he added.
From the La Flecha wind farm to energy storage and new electricity demand
While the storage business is progressing, Aluar continues to execute one of the largest renewable investment plans in the country.
The first major addition will be La Flecha , the expansion of the wind farm located next to the industrial plant in Puerto Madryn, which will add 336 MW and raise the installed capacity of the complex to 582 MW , intended entirely for the self-supply of aluminum production.
"I estimate that in October we will be putting into service the largest wind farm in the country, at least the largest one-shot project, with a capacity of 336 MW," said the Energy Resources Manager of Aluar.
Currently, 19 of the 52 Goldwind 6 MW wind turbines , equipped with Permanent Magnet Direct Drive technology, are already operational, while the work continues within the planned schedule and budget.
In parallel, the company is building a 25 MW solar park in Abasto , Buenos Aires province, with 44,550 LONGi photovoltaic modules (the first with back-contact technology in the country), Trina Tracker trackers and Huawei inverters.
The project will generate around 55,000 MWh annually , supply consumers through MATER contracts, and prevent the emission of more than 11,000 tons of carbon dioxide per year .
“Furthermore, we have a solar project with an approved environmental impact study in Puerto Madryn to hybridize our first Aluar wind farm. During periods of peak solar radiation, wind speeds decrease; they are inversely proportional. Therefore, without expanding the transmission infrastructure, we can add 50 MW and utilize the lines that remain idle during daylight hours,” Vendrell explained.