Genneia places its trust in Plan Renovar
Genneia, a company under the leadership of Jorge Brito Jr., is one of the big players in terms of renewable energy.
In a Fortuna magazine article, the president of Genneia, Jorge Brito Jr., stresses the value of investing in this market, stating that “partly, one of the reasons we decided to invest in this area was, first, the need to incorporate renewable energies to the energy matrix. Secondly, that it is a stable business, with low volatility. We have the volatility of the highest and lowest winds measured over ten years, six years of production, plus four years of measuring. The volatility is very low. Moreover, a secure contract in US dollars with the State makes it a very stable financial business, in which you invest with an interest rate and it is deducted from the capital market. We recently placed a five-year bond outside the country, of 350 million US dollars with an 8.75% annual interest. Here, the challenge for the company is to position itself with one of the best risks in Argentina, measured in terms of energy company, and to be able to capture the cash flow which, nowadays, is very positive for Argentina”.
In the bidding, Genneia, company belonging to Jorge Brito, attained, in round 1 and in 1.5, contracts in different localities: Villalonga and Necochea, Province of Buenos Aires; Puerto Madryn; Chubut Norte and Ponoma, in Rio Negro. Genneia has ample experience in the production of renewable energy since it already has the Rawson Wind Farm (77.4 MW).
Regarding the prospects towards the year 2020, The Government intends to increase this year a 2.9% in the generation of renewables, reach an 8% in 2018 and achieve a 20% in 2025, of the total national production.