Caputo and Cornejo seek to privatize the operation of a hydroelectric dam in Mendoza

The call provides for a joint process between both jurisdictions that will combine two operations: on the one hand, the granting of the national concession for the generation of electrical energy and, on the other, the sale of 100% of the shares of Hidroelectricidad Mendocina (HEMSA), the company created by the province to become the new concessionaire of the system.

The tender constitutes a new step in the renewal of the hydroelectric concession scheme that began in the nineties and that the Government of Javier Miley accelerated this year with the awarding of the Alicurá, El Chocón, Cerros Colorados and Piedra del Águila plants, in Comahue.

In this case, the peculiarity is thatThe province of Mendoza is the owner of the assets and the right to use the waterwhile The Nation maintains the power over the concession for electricity generationso both administrations agreed to carry out a single bidding process.

The Minister of Energy and Environment of Mendoza, Jimena Latorrestated that the objective is to select an operator with the technical and financial capacity to develop a long-term project, recover the generation potential of the complex and incorporate new investments that strengthen provincial energy security.

With this tender we seek to modernize a strategic asset for Mendoza, recover its generation potential and incorporate new investments that strengthen the energy security and development of the province. https://t.co/DYX6A4Dmbg

— Jimena Latorre (@JimehLatorre) July 28, 2026

The Los Nihuiles complex, whose main shareholder is Pampa Energía, is located on the Atuel River, in the department of San Rafael, and has an installed capacity of close to 290 MW.

It is made up of three dams, four hydroelectric plants and a compensating dam. As part of the new scheme, the Nihuil IV plant will be definitively incorporated into the same concession contract, so that the entire system operates under a single management, maintenance and investment model.

The future concessionaire must also carry out a recovery program for the infrastructure damaged by the flood that affected the Atuel canyon in January 2025.

The tender marks the end of a concession that dates back to the privatization process promoted during the 1990s. After the transfer of the assets from Agua y Energía Eléctrica to the province of Mendoza, the complex was concessioned for 30 years to Hidroeléctrica Los Nihuiles (HINISA), a company that currently has Pampa Energía as its main shareholder, with a 52% stake.

That concession expired in June 2024 and was temporarily extended while the future of the complex was defined. However, the flood recorded in January of last year changed the scenario: in addition to causing severe damage to two of the plants, it forced the transition period to be extended until a new tender was finalized.