IFC finances PCR and Acindar for pioneering wind and transmission project in Argentina

The International Finance Corporation is backing a $275 million wind farm and transmission expansion in Buenos Aires. Co-developed by PCR and ArcelorMittal’s Acindar, the project introduces a private-led investment model for national grid infrastructure to accelerate industrial decarbonization and renewable energy integration.

A $275 million investment is set to establish the Olavarria Wind Farm in Buenos Aires, backed by financing from the International Finance Corporation (IFC). The project, a joint venture between Petroquímica Comodoro Rivadavia S.A. (PCR) and steel manufacturer Acindar, will feature 29 Vestas turbines with a combined capacity of 185.6 megawatts. Beyond generation, the initiative includes a 25 km transmission line and critical upgrades to the Olavarría and Ezeiza substations to strengthen the Bahía Blanca-Abasto corridor.

Petroquímica Comodoro Rivadavia S.A. (PCR) is an Argentine industrial firm specializing in oil, gas, and renewable energy, while Acindar is the nation’s primary steel producer and a subsidiary of the global ArcelorMittal group. This development marks a significant shift in Argentina’s energy policy by utilizing the Large Investment Incentive Regime (RIGI) to facilitate the first privately funded transmission infrastructure integrated into the Argentine Interconnection System (SADI).

For heavy industries like steel, this provides a direct path toward decarbonizing high-emission operations. For the broader energy sector, the model addresses a chronic bottleneck in grid capacity. By demonstrating the viability of private capital in expanding the national high-voltage network, the project creates a blueprint for future energy infrastructure. This strategy is expected to unlock further wind resource development in southern regions and enhance the overall stability of the power grid, offering a more resilient environment for long-term industrial and energy investments.