YPF: Company And GE Energy Finalize Partnership To Capitalize YPF Energía

(RTTNews) - The Argentinean state-owned oil company YPF and GE Energy Financial Services sealed an agreement settling the conditions under which both should agree as soon as possible on the capitalization of YPF Energía Eléctrica S.A.

The agreement establishes that GE injects capital in hte company by subscribing to YPF EE new shares, reaching a 25% stake in the firm. This would allow YPF EE to speed up the development of its business plan. Likewise, YPF is negotiating the entry of a third partner to subscribe to an additional 25% of the shares of YPF EE, in the same terms as GE.

YPF EE currently has a net generation capacity of 1,417Mw, has projects under construction for an additional 755Mw, and is evaluating different projects to continue increasing its generation capacity with a total investment that could amount to around US$ 1,3 billion.