YPF to sell power stakes: report

BUENOS AIRES, December 15, 2017 – Argentinian NOC YPF will divest half of its stakes in power generation subsidiary YPF Energia Electrica, international media reported Thursday.

The state-owned company will sell a 25% interest to GE, a source told Reuters. A separate source told the agency that another 25% stake could be sold to Blackstone Group, a US-based asset management firm.

According to a source speaking to local newspaper El Cronista, the NOC aims to keep a controlling stake in the subsidiary.

YPF Energia Electrica’s assets include two combined-cycle plants in Tucuamán with a total generation capacity of 833 MW, a 40% share of the 870-MW Central Dock Sud plant and two 110-MW facilities in Loma Campana.

The company also has five power projects with a combined generation capacity of 755 MW under construction, including gas-fired and renewables-based facilities.

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