The International Finance Corporation, a member of the World Bank Group, announced a $300 million strategic investment in Argentina’s electric power generation company, Central Puerto, a power generation company to support the development of renewable energy projects.
The financing will be used to install the 150 MW Nuevo Puerto battery energy storage system, capable of injecting power for 5 hours, located in the Buenos Aires metropolitan area, Argentina.
AlmaGBA is the largest utility-scale storage contract awarded to date in Argentina. In the AlmaGBA tender, Central Puerto was awarded the Nuevo Puerto storage project and the Costanera battery storage project with 55 MW capacity for five hours. Construction on the projects is expected to begin at the end of 2025, with commissioning scheduled for 2026.
In addition, the financing package will also support the acquisition of shares in the 1,440 MW Piedra del Águila hydroelectric plant, which is considered critical for the stability of the national grid and was awarded in December 2025 as part of the privatization process of the Limay River power plants.
“This financing represents a significant endorsement of Central Puerto’s long-term strategy and our commitment to the development of the Argentine electricity system. It will allow us to consolidate critical assets and incorporate innovative solutions, strengthening the reliability of the grid and accompanying the integration of renewable energies in line with the reforms promoted by the country,” said Fernando Bonnet, CEO of Central Puerto.
According to Mercom’s 9M and Q3 2025 Funding and M&A Report for Energy Storage report, announced Energy Storage project financing increased 94% in the first nine months of 2025 compared with the same period in 2024.
In November 2025, Aukera, a Europe-based renewable energy developer and independent power producer, secured a €60 million (~$70 million) debt facility from Kommunalkredit Austria for the development and construction of its stand-alone battery energy storage project in Romania.
