Energias Renovables Las Lomas S.A.U. (“MSU Green Energy”), renewable energies generation arm within the MSU Energy S.A. group and a generating agent in the wholesale electricity market (WEM), has entered into a power supply agreement with Dow for the advance sale of renewable energy within the framework of the Mercado a Término de Energías Renovables, for an approximate amount of US$ 50,000,000.
MSU Green Energy is currently in the process of constructing its Las Lomas and Pampa del Infierno Photovoltaic Solar Parks, which will have capacities of 37 MW and 130 MW, respectively, located in the Provinces of La Rioja and Chaco.
With over 280,000 solar panels, this agreement marks the initial step in MSU Green Energy’s broader project to install renewable energy generation parks in the NOA and NEA regions of Argentina.
On the other hand, Dow is one of Argentina’s leading chemical and petrochemical companies, with presence in the country for over 60 years and a global track record exceeding 120 years. According to a recent statement from Dow, this agreement will allow them to achieve a 74% share of renewable sources in the energy needs of their production plant in Bahía Blanca by 2025, thereby establishing their position among the top 20 global companies utilizing clean energy.
Counsels to MSU Green Energy
We advised MSU Green Energy, through the team led by our partners Nicolás Eliaschev and Francisco Molina Portela, and associates Daiana Perrone and Eduardo N. Cano.
MSU Green Energy was also advised by Ezequiel Abal, its in-house lead counsel.
Counsels to Dow
PAGBAM advised Dow, through its team led by partner Francisco Romano, off counsel Tomás Fernandez Madero and associate Nahuel Pérez de Villarreal.
Dow was also advised by Josefina Tobías and Paloma Berdichevsky, its in-house counsels.