YPF Energia Electrica, a power producer spun out of Argentinian state-owned energy firm YPF, filed on Monday with the SEC to raise up to what we estimate could be $300 million in an initial public offering.
YPF Energia Electrica, formed from Argentina's state-owned energy firm YPF, owns and operates 17 power plants throughout the country, with a total installed capacity of 3,764 MW, representing 8.2% of Argentina’s total installed capacity connected to the SADI, the country’s electricity grid, as of March 2026. For the twelve-month period ended March 31, 2026, the company supplied 15.0 TWh of electricity, representing 9.9% of the total electricity supplied on the SADI. YPF Energia Electrica's operating portfolio is comprised of 2,740 MW of thermal assets and 1,024 MW of renewable assets, representing 73% and 27% of its total installed capacity, respectively. The company is the third largest thermal power generation company and the second largest in renewable power generation in Argentina in terms of installed capacity as of March 2026 and of energy generated for the twelve-month period ended March 31, 2026. Its thermal assets represent 10.8% of Argentina’s total thermal installed capacity connected to the SADI as of March 2026 and it contributed 15.0% of the country’s thermal energy generation on the SADI for the twelve-month period ended March 31, 2026. Its renewable assets represent 11.7% of Argentina’s total renewable installed capacity connected to the SADI as of March 2026 and it contributed 10.3% of the country’s renewable energy generation on the SADI for the twelve-month period ended March 31, 2026.
The Buenos Aires, Argentina-based company was founded in 2013 and plans to list on the NYSE under the symbol YLUZ. YPF Energia Electrica filed confidentially on May 15, 2026. Goldman Sachs, BofA Securities, Citi, BNP Paribas, Itau BBA, J.P. Morgan, and Santander are the joint bookrunners on the deal. No pricing terms were disclosed.
