Pampa Energía S.A. (‘Pampa’ or the ‘Company’; NYSE: PAM; ByMA: PAMP) informs that today has executed an agreement with the Provincial Government of La Rioja to acquire 100% of Vientos de Arauco Renovables S.A.U., which operates Arauco II Wind Farm stage 1 and 2 (‘PEA II’), located in Arauco, province of La Rioja, with a 100 MW gross installed capacity. PEA II’s energy is sold under a 20-year power purchase agreement RenovAr since March 2020.
The acquisition price amounts to US$171 million. The closing is subject to the conditions precedent, usual for this type of transaction.
The acquisition of PEA II initiates Pampa’s development of new renewable power projects in La Rioja, which investments are essential for the province and Argentina’s energy.
The addition of PEA II aligns with our strategy to focus on growing Pampa’s core businesses by investing in efficient and renewable power generation. The incorporation of PEA II and the commissioning of ongoing expansions, including the 81 MW at Pampa Energía III Wind Farm (PEPE III), will position Pampa as one of the leading Argentine companies in renewable power, operating 387 MW of wind power and totaling a projected capacity of 5,431 MW.
