We are the leading renewable energy platform in Argentina, operating the
country’s largest utility-scale wind and solar assets, complemented by
strategically located thermal capacity. As of the date of this prospectus, we
own and operate 2,128 MW of gross installed capacity, including 1,765 MW from
renewables (wind and solar), and 363 MW from thermal generation. In May 2026,
the San Rafael and Lincoln solar projects achieved full commercial operation,
adding 180 MW and 20 MW of installed capacity, respectively. In June 2026, the
San Juan Sur solar project achieved full COD for 129 MW of installed capacity.
As of April 30, 2026, we operated approximately 23% of Argentina’s wind and
solar installed capacity, according to CAMMESA. In May 2026, we were awarded a
13.2% indirect equity interest in Transener, Argentina’s principal high-voltage
electricity transmission company, pursuant to a public tender process through
which the Argentine government divested its equity interest in CITELEC,
Transener’s controlling shareholder (the “Transener acquisition”). The
acquisition was structured through Transmisión Eléctrica S.A., a special-purpose
vehicle formed jointly with our consortium partner Edison Transmisión S.A. We
believe this expected acquisition represents a strategically significant step
that broadens our participation across the power value chain and reinforces our
role in Argentina’s energy infrastructure.
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Our business model is built on a disciplined “develop-to-own and operate”
approach, leveraging in-house project origination, rigorous construction
management, and advanced data-driven operations. Nearly all our revenues are
generated under long-term, U.S. dollar-denominated power purchase agreements
(“PPAs”), including contracts with CAMMESA (under the RenovAr program and
Resolution 202/2016) and with C&I customers through the MATER framework. As of
the date of this prospectus, we have a pipeline of non-conventional renewable
assets focused on wind and solar generation with existing transmission
interconnection capacity, and also of battery energy storage systems (“BESS”).
This portfolio includes 60 MW under construction (Junín and BESS Maschwitz
projects), 175 MW ready to build, 2,491 MW in development, 1,273 MW in
pre-development and 1,200 MW in prospection. We define non-conventional
renewable assets as power generation assets that use the following natural
resources to generate energy: solar, wind, biogas, biomass, small hydro (less
than 50 MW).
Our mission is to deliver reliable, sustainable electricity to Argentina’s
largest energy consumers by developing, constructing, and operating
high-efficiency, low environmental impact assets. Since 2017, we have invested
over U.S.$1.8 billion, adding more than 1.6 GW of new renewable capacity
developed by Genneia. Our track record includes delivering projects on time and
on budget, even during challenging macroeconomic cycles, supported by robust
off-take agreements, strong relationships with global original equipment
manufacturers (“OEMs”) and lenders, and a centralized Control and Operations
Center (“CECO”) that enables predictive maintenance and real-time optimization.
Our portfolio is concentrated in Argentina’s most attractive renewable
corridors—the southern Patagonia region and the southeast of Buenos Aires for
wind, and San Juan and Mendoza in the northwest for solar—with thermal peaking
units near demand hubs to support grid stability. As of the date of this
prospectus, we have under construction one small utility scale solar project
(Junín with 20 MW of total capacity) and a BESS project (BESS Maschwitz project
with 40 MW of total capacity) along with a pipeline of additional projects.
Since 2016, we have experienced significant growth in renewable energy
generation, positioning ourselves as the leading player in Argentina’s energy
transition. During the period from 2016 through the LTM ended March 31, 2026,
our annual renewable energy generation increased at a compound annual growth
rate (“CAGR”) of 38%, while our Adjusted EBITDA with Joint Ventures from our
wind and solar segments grew at a CAGR of 28% during the same period. The
figures in this paragraph take into account our consolidated portfolio of assets
and the ownership-adjusted figures for our joint ventures.
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Frameworks supporting our contracted cash flows. The RenovAr and Resolution
202/2016 programs provide long-term, U.S. dollar PPAs with CAMMESA, supported by
the FODER and, for select power plants, World Bank/IBRD guarantees. The MATER
framework enables direct PPAs with C&I customers and allocates transmission
interconnection capacity (called “prioridad de despacho” in Argentina’s power
sector regulation), including mechanisms for transmission expansion under
Resolution 360/2023. Transmission interconnection capacity in Argentina refers
to a regulatory and operational designation that grants a power generation
project that produces energy from the use of a natural resource that cannot be
stored (run-of-river hydraulic, wind, solar, among others) preferential and
prioritized access to interconnection capacity within the national grid above
other generation technologies. The concept of transmission interconnection
capacity applies to power plants that operate under the MATER, Resolution
202/2016, GENREN and RenovAr frameworks. As opposed to other markets, this
concept is not tied to economic dispatch curves or marginal cost-based dispatch;
instead, it functions as a reservation mechanism for transmission capacity,
ensuring that projects with transmission interconnection capacity can inject
energy into the grid once operational. The RenovAr, Resolution 202/2016, GENREN
and MATER frameworks, which grant us transmission interconnection capacity for
the substantial majority of the installed capacity of our assets operating under
these frameworks, underpin our resilient, dollar-denominated contracted
portfolio and support continued growth as C&I customers seek to decrease their
energy supply costs and to meet renewable supply goals, which has been
encouraged by Law No.27,191.
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Our principal executive offices are located at Nicolás Repetto 3676, 3rd Floor,
Olivos (1636), Province of Buenos Aires, Argentina. Our telephone number is
+54 (11) 6090-3200, our fax number is +54 (11) 6090-3201, and our email address
is investors@genneia.com.ar. Our website is www.genneia.com.ar.
