The government took a decisive step towards the privatization of the Argentine electric transmission system by formally starting the process of Sale of the Investor Company in Electric Transmission (CITELEC), which controls Transenerthe main high -voltage power transport company in the country.
Through the Resolution 1050/2025 published this Friday in the Official GazetteEconomy Minister Luis Caputo launched The first stage of enarsa privatization (Argentine energy society), starting with the Sale of your shares in Citelec.
The operation is presented as the first phase of a broader plan for the privatization of ENARSAwhich according to the official document provides for “the separation of the activities and goods of each business unit” of the state energy company.
Transener control at stake
The operation has special relevance because Citelec has 52.65% of the transsener capitalincluding all class A actions (They represent 51% of the capital and grant control) and 1.65% of class B shares.
This participation makes Citelec the Master Key of Transener control, whose high voltage lines transport electricity from the generating plants to the distribution centers throughout the national territory.
In addition to your dominant participation in Transener, Citelec also has minority investments in Limitada International Transener and Transba (Electric power transport company by trunk distribution of the province of Buenos Aires).
A process with international scope
The administration of Javier Milei established that the sale will be made through a Public tender based on national and international scopewith a execution period of eight months from the entry into force of the resolution. This means that foreign companies They will be able to participate in the Puja for Transener control.
The Public Business Transformation Agency will be responsible for coordinating the process, while the Undersecretariat of Electric Power will prepare the bidding sheets.
Valuation challenges
A particular aspect of the process is the Valuation of Citelec. The Nation Court of Valuation declared incompetent to carry out the appraisalarguing that the value of the company “It is not based on physical assetsbut in income that rights over these can generate. “
For this reason, the Ministry of Economy instructed that The appraisal is made by a national public sector bank.
Source: Ambito
