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| Central Térmica Loma de la Lata S.A. (“CTLLL”) |
Central Térmica Loma de la Lata is located in Loma de la Lata, Province of Neuquén. The plant was built in 1994 and is composed of three open cycle gas turbines and has an installed capacity of 369 MW, which represents 1.4% of the installed capacity in Argentina. From 1997 to 2009, its average annual generation was 1,262 GWh, with the highest level of generation (2,317 GWh) reached in 1999 and the lowest level (272 GWh) recorded in 2002.
Like CTG, Loma de la Lata is in a privileged location, given its proximity to one of the largest gas fields in Latin America, also called Loma de la Lata.
CTLLL’s revenues are mainly composed of energy and capacity sales. Total revenues for the twelve-month year ended December 31, 2009 were approximately Ps.165 million, corresponding to a net generation of 926 GWh, 46.9% lower than in 2008. Such reduction is explained by an increase in maintenance works during 2009 and lower dispatch of the plant during the last months of the year due to an increase in the use of the hydroelectric generation system.
We are currently in the process of expanding CTLLL, which consists of converting Loma de la Lata into a combined cycle through the installation of a steam turbine and three heat recovery generators, which will increase its current capacity, 369 MW, by 178 MW. The expansion requires an approximate investment of US$216 million and its output will be sold under the Energía Plus Program and to CAMMESA by means of the agreement executed with CAMMESA pursuant to Resolution SE No. 220/2007 (for more information see section 6.3.1 of this Annual Report).
Furthermore, and for purposes of ensuring the provision of natural gas of the plant, on November 19, 2009, our subsidiary Petrolera Pampa S.A. (“PEPASA”) accepted an offer from YPF S.A. to enter into an investment agreement in the area known as Rincón del Mangrullo, located in the Province of Neuquén. We expect that the supply to be provided under such agreement will account for up to 11% of CTLLL’s natural gas consumption (for more information see section 6.3.2 of this Annual Report).
The following chart shows certain relevant statistical data on Loma de la Lata:
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2005 |
2006 |
2007 |
2008 |
2009 |
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Net Generation (GWh) |
1.253 |
1.263 |
1.772 |
1.745 |
926 |
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Energy Purchases (GWh) |
43 |
31 |
27 |
72 |
26 |
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Total Energy Sales (GWh) |
1.296 |
1.294 |
1.799 |
1.817 |
1.2971 |
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Average Price (Ps. / MWh) |
44,8 |
64,6 |
81,5 |
106,4 |
127,2 |
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Average Gross Profit (Ps. / MWh) |
20,8 |
22,2 |
18,1 |
27,5 |
21,3 |
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1 Includes 345 GWh equivalent compensated through assignment of natural gas during winter.
Note: Gross Margin before amortization and depreciation charges. |
Technical Data:
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