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On September 5, 2014, Pampa’s generation subsidiaries (the ‘Generators’) along with the Secretariat of Energy (‘SE’) signed a new agreement towards increasing thermal generation availability to be financed through Sales Settlement with Maturity Date to be Defined (‘LVFVD’) and Generator’s own resources.

In the agreement it was defined, subject to the fulfillment of certain conditions, the expansion of 120 MW of installed capacity in CTLL, through the setting of two moto-generators of 15 MW and a high efficiency gas turbine of 105 MW, with an estimated investment of US$110 million (the ‘Project’). The high efficiency gas turbine is expected to start operations in the second quarter of 2016.

The Project will be financed through the use of LVFVD credits, which were issued by the application of SE Resolution No. 406/03 and were not compromised in other agreements, as well as credits from the Additional Remuneration Trust, issued or to be issued as of December 31, 2015 under SE Resolution No. 95/13 and its amendments (altogether the ‘Credits’), being the remaining balance financed with CTLL’s own funds.

The following table summarizes the current status of Pampa’s expansion projects:

Project Location New Capacity
(MW)
EstimatedInvestment
(AR$ MM)
Fuel Estimated Starting
Operating Date
GE LMS-100
High efficiency gas turbine
Neuquén 105 930 Natural Gas Q2 2016
MAN moto-generators Neuquén 15 Natural Gas 2017
Total 120 930