Buenos Aires Herald 
Economy Minister Luis Caputo announced that Argentina’s Large Investment Incentive Regime (RIGI, by its Spanish initials) committee has approved a project to build a wind farm in Olavarría, Buenos Aires province.
The project, the 7th to be approved by the RIGI, is called Parque Eólico Olavarria (Olavarría Wind Park). According to a post Caputo made on X, the initiative entails a US$250 million investment and will be carried out by Argentine companies Petroquímica Comodoro Rivadavia (known in Spanish as PCR) and Argentine Steel Industry (Acindar in Spanish).
The Olavarría Wind Park project
PCR is a company specializing in hydrocarbons, renewable energy, and cement production. Acindar, meanwhile, is a steel manufacturer.
This wind farm’s initial building stage foresees reaching a 180-megawatt (MW) capacity, which will be used to supply ArcelorMittal Acindar’s industrial plants. The project’s goal is to use the energy created to improve sustainability and reduce carbon emissions in the company’s industrial operations.
Both companies are already partners in the field of energy generation. They are shareholders (PCR with a 51% share and Acindar with 49%) in the Argentine Renewable Energy Generation I (GEAR 1 S.A., for its Spanish initials) company , which owns and operates the San Luis Norte wind and solar farm. It is located in Toro Negro, in the Belgrano department of that province, and has a total capacity of 112.5 MW.
This is the seventh investment commitment under the RIGI, a special scheme that grants a series of tax and legal benefits (income tax reduction, accelerated VAT refund, no export withholding or import duties, among others) for companies that propose expenditures exceeding US$200 million.
According to data from the economy ministry, all these projects represent a confirmed investment commitment of at least US$9.25 billion.
