Hydro Power Plant Pichi Picún Leufú (‘HPPL’)

The HPPL plant started operating in the year 1999 under a 30-year concession. HPPL is located on the Limay river, in the Province of Neuquén. It has an installed capacity of 285 MW distributed in 3 Kaplan turbines, which represents 0.8% of Argentina’s installed capacity. The dam is made up of loose materials with a waterproof concrete side. It has a total length of 1,045 m, a total height of 54 m at the deepest point of the foundation, and a crest at 480.2 m above sea level. From 2000 to 2017, HPPL’s average annual generation was 973 GWh, with a generation record high of 1,430 GWh in 2006, and a record low of 494 GWh in 2016.



The following chart shows certain relevant statistical data on HPPL:

2016(1) 2017
Net Generation (GWh) 176 760
Purchases of Energy (GWh)
Total Energy Sales (GWh) 176 760
Average Price (US$/MWh) 24 22
Average Gross Profit (US$/MWh) 14 12

Note: Gross Margin before depreciation and amortization. AR$/US$ exchange rate: 2016 – 14.78; 2017 – 16.57. (1)Volumes as from the closing of the acquisition of former Petrobras Argentina in August 2016.