YPF Acquires BNR's Stake in YPF Luz for $430 Million

At a recent Board meeting, YPF S.A. approved the acquisition of 24.99% of YPF Luz shares held by BNR Power Investments B.V. for a total of $430 million. This transaction is subject to customary conditions for such operations, and upon completion, YPF will become the sole owner of YPF Luz.

Horacio Marín, YPF's President and CEO, emphasized that this purchase represents a significant milestone in the company's strategy to establish itself as a world-class energy company. "This transaction will enable YPF Luz to accelerate its growth and enhance its capabilities, while focusing on the power generation sector and enriching YPF's comprehensive energy proposition," Marín stated.

YPF Luz was founded in 2013 with the goal of creating a specialized player in the power sector to complement YPF's energy offering and support the country's development. In 2018, General Electric joined as a shareholder to strengthen the firm's growth, continuing its collaboration through the BNR fund following GE Vernova's spin-off in 2024.

Since its inception, YPF Luz has expanded its capacity and established itself as one of Argentina's leading power generators, with 3.8 GW of installed capacity and operations across eight provinces. To date, the company produces approximately 10% of the country's electricity and maintains a diversified portfolio of assets and customers, having recorded EBITDA of $479 million over the last twelve months, ending in June 2026.