PCR Renewables

pending

 The proposed investment consists of a 7-year senior loan of up to USD 150 million to a Special Purpose Vehicle (SPV) SPV fully owned by Petroquímica Comodoro Rivadavia S.A (PCR, the Company). This SPV has been established to partially implement a Capital Expenditure (CapEx) plan aimed at constructing  wind farm and upgrading power transmission infrastructure (The Project). The proceeds of the loan will be utilized for the following purposes: (i) construction and operation of the Olavarria wind farm with a capacity of 180 MW, (ii) repowering and expanding of capacitor banks along the Olavarria-Ezeiza transmission corridor, and (iii) Repowering transformer station in Bahia Blanca. The Project is developed by PCR Renovables, subdivision of PCR dedicated to developing and operating renewable energy projects in Argentina. PCR currently has four other projects in its portfolio, with a total generation capacity of 527 MW, making it the second largest in the country. The Project site is located 24 Km south-west of the town of Olavarria, Buenos Aires province. The area’s prevalent economic activity is cattle ranching and agriculture. The Olavarria wind farm covers a total area of 4.446 hectares, primarily consisting of open grassland with small wetlands scattered around the project (approximately less than 1.5 ha each). The land for turbines, roads and transformer stations is leased long-term from private owners (local farmers) under a usufruct agreement, allowing them to continue using the surrounding area for cattle ranching.  The supplier and size of the turbines to be used in the Project had not been defined yet at the time of appraisal. Wind turbines will be supported by tubular towers and run by three blades and expected to be approximately 135- meter rotor diameter. Approximately 36 km of gravel roads will be built. All electrical cables connecting the towers to the substation will be buried. The energy generated will be stepped at the substation, located at the perimeter of the Project and will be sent through a 20 km T-line to the Olavarria sub-station located in the town of Olavarria. The T-line’s ROW runs for 4 Km on a new path parallel with an existing rail path towards the Olavarria sub-station (500/132 kV). The overhead transmission line (OHTL) is considered an Associated Facility (AF) and will be constructed by PCR and managed by TRANSBA. The Project is currently in the planning stage and securing relevant permits and is expected to begin construction in Q4-2025 for approximately 15-18 months.