The International Finance Corporation (IFC), a member of the World Bank Group, is financing the development of the Olavarría Wind Farm in Buenos Aires Province, Argentina, alongside investments to expand transmission capacity along the Bahía Blanca–Abasto high-voltage corridor. The US$275 million project, co-developed with PCR (Petroquímica Comodoro Rivadavia S.A.) and Acindar Industria Argentina de Aceros S.A., includes 29 Vestas wind turbines with a total capacity of 185.6 megawatts and a 25 km transmission line connecting the wind farm to the Olavarría substation. It has been approved under Argentina’s Large Investment Incentive Regime (RIGI).
The Olavarría Wind Farm is Argentina’s first renewable energy project to integrate privately financed transmission infrastructure into the national grid, aiming to catalyze further private investment, unlock additional renewable capacity, and strengthen the efficiency and resilience of the country’s power system. The wind farm is expected to generate enough electricity to supply approximately 230,000 households annually while reducing carbon emissions by roughly 320,000 metric tons of CO₂ equivalent each year.
In addition to clean energy generation, the project is expected to enhance industrial competitiveness by providing cost-effective power to private offtakers, creating jobs, promoting skills development in renewable energy and transmission, and supporting local suppliers. IFC will provide technical advisory services to ensure compliance with international environmental and social standards, further strengthening sustainability practices and mobilizing additional private investment.
IFC is leading a US$110 million senior corporate loan package, expandable to US$140 million, for the project, including US$30 million from its own account and US$80 million from B-loan and parallel loan participants. The initiative reflects IFC’s broader commitment to private sector-led development in emerging markets, leveraging capital and expertise to expand renewable energy infrastructure and foster sustainable economic growth in Argentina.
