Posadas, Posadas y Vecino advised entus Comercializadora de Energía S.A. on the process
Ventus, which manages and operates wind farms in Uruguay, exported energy to Argentina for the first time after receiving authorization from the National Direction of Energy of the Ministry of Industry, Energy and Mining, becoming the first Uruguayan company to sell electric power outside the county.
In September 2017 the company signed a contract with Argentina’s CAMMESA for the sale of energy generated by the Wind farms operated by Ventus. In the same month, the Argentine Energy Secretariat approved the import, which was carried out in the spot modality, according to the procedures of the Wholesale Electricity Market of Argentina and respecting the requirements of the Agreement of Interconnection between both countries. This agreement is discontinuated for cases in which it is necessary to use the energy in the Uruguayan local network.
This is the first time a private Uruguayan company manages to commercialize energy outside the national territory. Ventus, a project created by young entrepreneurs, which started operating in Uruguay in 2010, is an engineering company dedicated to building wind and solar farms in EPC turnkey modality, as well as providing services for all stages of renewable energy projects, including development, engineering, construction and operation, as well as energy trading.
Currently Ventus operates 72.9 MW wind power in Uruguay, generating 250,000 MWh per year, which represents about 150 million USD of investment belonging to 34 uruguayan companies. Ventus also operates in Argentina, where it has been operating since 2015 with great success since the growth of the renewable Energy sector in that country, has recently expanded its horizons to Colombia and Mexico.
Posadas, Posadas y Vecino advised Ventus Comercializadora de Energía S.A. with a team including Pablo Sequeira (Picture), Alejandro Rey Jiménez de Arechaga and Federico Samudio.
Law Firms: Posadas, Posadas & Vecino;
Clients: Ventus Comercializadora de Energía S.A.;