YPF has completed the purchase of the 24.99% of YPF Energía Eléctrica, known as YPF Luz, that it did not already own, paying US$430m to BNR Power Investments B.V., the Argentine energy group said in a filing on 14 October 2026.
Why YPF S.A. is buying YPF Energía Eléctrica S.A. (YPF Luz) – 24.99% stake
The purchase gives YPF full ownership of one of Argentina's largest power generators. YPF Luz has 3,764 MW of installed capacity, of which 2,740 MW is thermal and 1,024 MW renewable, and YPF said it is the country's second-largest renewable generator and the leading participant in long-term private renewable power purchase agreements.
Deal terms and financing
YPF's board approved the acquisition of 237,499,943 Class B ordinary shares on 8 October for a total of US$430m, structured with financing from international sources. YPF Luz reported adjusted EBITDA of US$479m for the 12 months to June 2026 and a net leverage ratio of 1.5 times in the second quarter.
Regulatory approvals and timing
YPF said all conditions precedent had been satisfied and the transaction closed on 14 October 2026.
Market context
YPF Luz generated about 10% of the electricity supplied in Argentina in the 12 months to June 2026 and operates in eight provinces. Bruchou & Funes de Rioja advised YPF on the acquisition, according to Latin Lawyer.
