Update on the AlmaSADI Tender: Cammesa Extends Deadlines for Battery Energy Storage Projects
|
On April 10, 2026, the Compañía Administradora del Mercado Mayorista Eléctrico (Cammesa), through Circular No. 1 (the “Circular”), officially extended the deadlines for the AlmaSADI tender, a competitive process aimed at installing 700 megawatts (MW) of battery energy storage systems to reinforce the power supply in critical nodes of the Argentine electrical system.
The Circular provides an updated schedule for the tender process, establishing that the consultation period has been extended until May 6, 2026. Accordingly, the deadline for providing responses to the inquiries submitted by the participating generators has been extended until May 13, 2026.
Likewise, the new schedule establishes that the evaluation of "Envelope A" containing the technical specifications shall take place on June 9, 2026. The opening and evaluation of "Envelope B" regarding the economic bids has been rescheduled for June 24, 2026. Consequently, the final adjudication of the winning bids shall take place on July 8, 2026.
On the other hand, the sector highlighted the high level of interest the process has generated, expecting to receive bids for approximately 2,500 MW, far exceeding the 700 MW target. In line with this, the Empresa Provincial de Energía de Córdoba (EPEC) officially launched its own call for battery storage projects of up to 100 MW, specifically to present them under the provincial umbrella in the national AlmaSADI tender.
|
|
Decree No. 273/2026 Opens Comprehensive Concession of the Retiro Omnibus Terminal
|
On April 24, 2026, the National Government, through Decree No. 273/2026 (the “Decree”), declared of public interest a private initiative and officially launched a public tender for the comprehensive concession and remodeling of the Retiro Omnibus Terminal. This effectively ends the previous 33-year concession model and opens a major new infrastructure opportunity.
The Decree provides that the tender process and the drafting of the General Terms and Conditions shall be exclusively managed by the Ministry of Economy, which will act as the competent authority. To guarantee operational continuity, current services will be temporarily maintained until the new concession is fully awarded.
Likewise, the new legal framework establishes that the administration, commercial operation, and remodeling contract shall be granted for a period of 30 years. The proposed architectural plan allows investors to transform the terminal into a modern intermodal hub of up to six levels, incorporating high-yield assets such as a convention center, retail spaces, coworking areas, and a hotel.
The Government emphasized that any party wishing to participate must execute the project with 100% private financing, as the State will not compromise public funds.
|
|
Neuquén tender of 15 areas of Vaca Muerta to come in August
|
The province of Neuquén, through its state-owned company Gas y Petróleo del Neuquén (“GyP”), will launch a tender to award fifteen (15) new hydrocarbon concessions in Vaca Muerta with the aim of attracting investment and accelerating energy development.
The tender includes the following areas: Águila Mora Noreste, Cerro Avispa Norte, Cerro Avispa Sur, Cerro Partido Este, Chasquivil Sur, Corralera Noreste, Corralera Noroeste, Corralera Sur, Curamhuele, El Corte, La Hoya, La Tropilla I, Pampa de las Yeguas NE, Santo Domingo II and Totoral Este. These blocks are located in the northern and central areas of the province and combine different levels of exploratory maturity, allowing participation from both large shale operators and companies with a more exploratory profile.
Under the proposed scheme, private companies will associate with GyP, while the provincial company will retain a 10% to 20% participating interest in each project. The selected private parties will assume the full risk and financing of the exploratory stage. The process contemplates an initial exploration period of up to eight years, divided into two four-year stages, and a potential 35-year exploitation concession in the event of commercial discoveries.
Interested companies may submit applications until August 10, 2026, and the opening/announcement of offers is scheduled for August 19, 2026, with the provincial government stating that winners will be determined that day. The evaluation of bids will consider, among other factors, minimum investment commitments, royalties, access bonuses and proposed exploratory work plans.
|
|
Fitch Ratings Upgrades Argentina’s Sovereign Rating to “B-”
|
Fitch Ratings has upgraded Argentina’s sovereign credit rating from “CCC+” to “B-”.
Fitch expressly stated: “Argentina's rating reflects structurally improved fiscal and external balances, progress on economic reforms, improved prospects for FX reserve accumulation, and our expectation that the government will secure adequate financing to cover debt obligations”.
By officially exiting the “CCC” tier, Argentina crosses a critical threshold that immediately unlocks access to thousands of global institutional funds whose strict compliance mandates previously prohibited them from holding Argentine sovereign or corporate debt.
Fitch's revised rating is expected to directly stimulate the real economy through a reduction in the costs associated with trade finance, import/export letters of credit, and the issuance of provincial or corporate debt. Furthermore, capital requirements for insurance companies investing in the country would decrease, thereby enhancing the return on equity for domestic instruments.
|
|
Executive Branch regulates the “Incentive Regime for Medium Investments” (RIMI)
|
On April 13, 2026, through Decree No. 242/2026, the Executive Branch regulated the “Incentive Regime for Medium Investments” (“RIMI”). RIMI is designed for MiPyMEs (up to the "Medium Enterprise - Tier 2" classification) that possess a valid certificate, as well as non-profit organizations registered with ARCA that satisfy the relevant PyME criteria.
To benefit from this regime, interested parties are required to undertake investments in the acquisition, production, or importation of new movable assets that strictly qualify as Capital Goods or IT and Telecommunications Goods, or in the execution of works directly allocated to productive activities, even those with an advancement level below 30%.
It also includes agricultural irrigation systems, anti-hail netting, high energy-efficiency assets, and reproductive livestock. Investments in financial assets, portfolio investments, and inventory are excluded.
The RIMI specifies the following thresholds concerning the minimum investment amounts:
- Micro enterprises: USD 150,000
- Small enterprises: USD 600,000
- Medium enterprises Tier 1: USD 3,500,000
- Medium enterprises Tier 2: USD 9,000,000
The tax benefits granted include, inter alia: (i) Accelerated depreciation for Income Tax purposes (in two annual installments for movable assets, and by reducing the useful life to 60% for works); (ii) Refund of VAT input tax credits after the lapse of three (3) monthly tax periods.
The amortization of irrigation equipment, assets with high energy efficiency, anti-hail netting, and reproductive livestock shall be effected within a single fiscal year, thus enjoying a differentiated treatment from the one mentioned above.
|
|
Enactment of changes to the Glaciers Act
|
On April 24th, 2026, Act No. 27,804 was published in the Official Gazette of the Argentine Republic, introducing substantial amendments to Act No. 26.639 on "Minimum Standards for the Preservation of Glaciers and the Periglacial Environment" (hereinafter, the "Act"). These amendments significantly impact the scope of prohibitions, the role of the provinces, and the development of productive activities.
The Provincial authorities are empowered by the Act to determine three key elements: (i) the existence of glaciers and periglacial environments; (ii) whether these environments serve any protected hydrological functions; and (iii) if activities defined as "prohibited" have caused significant alteration within the glaciers and periglacial environment.
The amendments to the Act will permit reduced restrictions for developing activities in Los Andes, aimed at exploring and exploiting the natural resources situated within the local jurisdictions of the Provinces.
|
|
EU-Mercosur Partnership Agreement
|
On January 17th, 2026 the European Union officially signed the Free Trade Agreement with Mercosur. This historic milestone aims to establish the world’s largest free trade area by eliminating tariff barriers and fostering cooperation between both blocs.
To expedite its implementation, the pact has been structured into two distinct legal instruments:
- Interim Trade Agreement (“ITA”): Focused exclusively on market access and trade liberalization. Being an exclusive EU competence, its main benefit is that it does not require individual ratification by each EU Member State; it only requires the consent of the European Council and the European Parliament.
- EU-Mercosur Partnership Agreement (“EMPA”): A broader framework encompassing political and cooperation pillars. Unlike the iTA, the EMPA requires parliamentary ratification by all EU Member States to fully enter into force.
Under this structure, the ITA allows trade benefits to take effect more quickly, with provisional application set to begin on May 1, 2026. Once the EMPA is ratified by all parties, it will repeal and supersede the ITA.
Regarding Mercosur, each Member State (Argentina, Brazil, Uruguay, and Paraguay) must initiate its domestic ratification and incorporation process, requiring approval by their respective National Congresses. The treaty will enter into force individually for each country as their legislatures complete the ratification process and deposit the instrument with the Mercosur Secretariat.
By means of Decree No. 24/2026, published in the Official Gazette on January 19, 2026, the National Executive Branch called the Congress to Extraordinary Sessions to address the Bill ratifying the Free Trade Agreement between Mercosur and the European Union, thereby formalizing the commencement of its legislative internalization stage.
Once approved, the staged phase-out or elimination of tariffs shall be triggered, marking the start of a new era of opportunities for regional exports and investment.
For further information, please refer to news@pagbam.com, call (54-11) 4114-3000 or get in touch with us via WhatsApp.
|
|
|
|
|
