Ternium to expand 72-MW Argentine wind farm to 99 MW

Latin American steel producer Ternium SA (NYSE:TX) plans to boost the capacity of the 72-MW wind farm it is currently building in Olavarria, Argentina, in an effort to significantly reduce electricity purchases from the market.

The Olavarria wind project, under construction since August 2023, will have its installed capacity raised to 99 MW, with the addition of six turbines to the 16 already planned, Ternium said.

Ternium was awarded priority dispatch for 28.5 MW in the last tender held by Argentine wholesale electricity market administrator, which will allow it to add new turbines.

The company now anticipates its total investment in the project to reach USD 220 million (EUR 200.5m). Once at full capacity, the 99-MW Olavarria will be capable of generating around 480 GWh of electricity per year. This will allow Ternium to replace some 90% of the electricity it buys within Argentina’s national interconnected system, the steel maker said.

The wind farm is expected to be operational in the fourth quarter of 2024.

(USD 1.0 = EUR 0.911)

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