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 gas turbines with an installed capacity of 375 MW and the addition –expected for the second quarter 2011- of a 178 MW Siemens steam turbine for combined cycle closing. Due to some technical faults detected in the Steam Turbine unit, which composes part of Loma de la Lata's installed capacity expansion project, the commissioning for the commercialization of the combined cycle has been postponed. The project contractor, Isolux Corsan Argentina S.A. and Tecna Estudios y Proyectos de Ingeniería S.A. – Unión Transitoria de Empresas (“UTE”) has disclosed a schedule about which the Company has requested more accuracy and the best efforts to reduce the necessary time and the start of commercial operations could be delayed until the end of the second quarter 2011 approximately. Therefore, CTLLL has begun to take the steps necessary to collect both the anticipated contractual compensations, as well as the corresponding indemnifications from the insurance companies.
The expansion will require an investment of approximately US$233 million and will be commercialized under the Energía Plus Program and to CAMMESA under the agreement entered into with such entity within the framework of Resolution No. 220/2007 issued by the Secretariat of Energy. In the aggregate, CTLLL will have an installed capacity of 553 MW, representing 2.0% of the installed capacity in Argentina. From 1997 to 2010, its average annual generation was 1,204 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 year ended December 31, 2010 were approximately AR$150 million, corresponding to a net generation of 448 GWh, 51.6% lower than in 2009. Such reduction is explained by restrictions on the provision of natural gas in the area of Loma de la Lata issued by CAMMESA, an entity responsible for the allocation of fossil fuels since 2010 at its discretion aiming at maximizing the dispatch of electricity. Furthermore, maintenance and adjustment works were conducted on the gas turbines for their operation in the combined cycle.
The following chart shows certain relevant statistical data on Loma de la Lata:
Net Generation (GWh)
Energy Purchases (GWh)
Total Energy Sales (GWh)
Average Price (AR$ / MWh)
Average Gross Profit (AR$ / MWh)
Note: Gross Margin before amortization and depreciation charges.