Genneia S.A., an Argentinean energy company active in the provinces of Buenos Aires and Entre Ríos, has acquired 100% of the shares of Ullum 1 Solar S.A., Ullum 2 Solar S.A. and Ullum 3 Solar S.A.
As reported by the company, in a document sent to the Argentinean National Securities Commission, the three companies own three solar projects with a combined capacity of 82 MW, which were selected by the government in the second round (Round 1.5) of RenovAr, the program for the development of large-scale renewable energy projects.
“The transfer of shares representing 75% of the share capital of each of the Ullum subsidiaries has been completed. The effective transfer of the remaining 25% of the share capital is subject to certain conditions, including the authorization of the Ministry of Energy and Mines and CAMMESA,” said the company in the document. The financial terms of the operation, however, were not disclosed.
The three solar parks, named, respectively, Ullum I (25 MW), Ullum II (25 MW) and Ullum III (32 MW), were developed in the province of San Juan by state-owned power supplier, Energía Provincial Sociedad del Estado (EPSE). EPSE is also building a solar module factory in the same province.