Buenos Aires, November 15, 2018 - YPF Luz has signed an agreement with GE Renewable Energy for the construction of Los Teros Wind Farm, located in Azul, Province of Buenos Aires. The construction will begin in November. The project will employ around 150 people during the construction phase and an investment of US $144 million is expected.
Los Teros, which will feature 32 GE wind turbines of 3.83 MW, will have an installed capacity of 122 MW, an estimated capacity factor* of ~57% and an extremely high efficiency level. This project will establish Azul as a location with excellent natural conditions for wind power.
The objective of YPF Luz in developing this project is to provide renewable, efficient and reliable energy to customers through the Wholesale Electricity Market (MATER). YPF Luz has already signed contracts to supply Toyota and Coca-Cola FEMSA with renewable energy from Los Teros.
Los Teros will be the first wind farm that GE will build in the country, through a turnkey contract that includes the installation of wind turbines and the construction of a substation to connect the 132 kV line between Tandil and Olavarría. The Wind Farm will be constructed over an area of 2450 hectares, 45 km from Azul.
The wind energy produced in Los Teros may enable the reduction of 5.5 million tons of CO2 emissions in 20 years, when compared to the impact of having the same energy produced by a thermal power plant, which is equivalent to the saving of 58.000 m3 of Diesel, or 98 million m3 of natural gas.
For both companies, this is one additional step to contribute to the adoption of a more diversified and sustainable energy mix, an area where Argentina is a recognized leader on the continent. The country has a goal of having 20% of its electricity come from renewable energy sources by 2025.
"We celebrate the beginning of a new Project to the Renewable energy development which will be undoubtedly an important contribution to the country's sustainable development" affirmed Martín Mandarano, CEO of YPF Luz. He also added: "We are proud to be able to promote this renewable project together with GE, a world leader in energy technology and strategic partner in Argentina."
Vikas Anand, General Manager for GE's Onshore Wind Business in the Americas said "We are excited to be partnering with YPF Luz to help them achieve their renewable energy goals. This project also reinforces GE's commitment to invest and grow in Argentina."
* "Capacity factor" compares how much energy was generated against the maximum that could have been produced at continuous full power operation during a specific period of time.
About YPF Luz
YPF Luz (YPF Energía Eléctrica S.A.) is the fifth largest electricity generator in Argentina in installed capacity. Currently, the company has a capacity of 108MW installed that provides the wholesale and industrial market, and it is building another 620 MW, which 340 MW will be generated form 3 wind farms located in the provinces of Chubut, Santa Cruz and Buenos Aires.
YPF Luz's mission is to generate profitable, efficient and sustainable energy, optimizing natural resources, caring for its people, applying the best standard of health and safety, and contributing to the growth of its customers and the communities where it operates.
The shareholders of YPF Energía Eléctrica are YPF S.A. and an affiliate of GE.
For more information, visit www.ypfluz.com
GE (NYSE:GE) drives the world forward by tackling its biggest challenges: Energy, health, transportation—the essentials of modern life. By combining world-class engineering with software and analytics, GE helps the world work more efficiently, reliably, and safely. For more than 125 years, GE has invented the future of industry, and today it leads new paradigms in additive manufacturing, materials science, and data analytics. GE people are global, diverse and dedicated, operating with the highest integrity and passion to fulfill GE's mission and deliver for our customers. www.ge.com
About GE Renewable Energy
GE Renewable Energy is a $10 billion business with an innovative spirit and entrepreneurial mindset, bringing together one of the broadest energy products and digital services portfolios in the renewable energy industry. Combining onshore and offshore wind, blades, hydro and innovative technologies such as hybrid systems and concentrated solar power, GE Renewable Energy has installed more than 400+ gigawatts capacity globally to make the world work better and cleaner. With more than 22,000 employees present in more than 80 countries, GE Renewable Energy is working on new ways to power the world's biggest economies and most remote communities.
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