The Argentine national government has oficialized the start of the partial privatization process for Nucleoeléctrica Argentina S.A. (NASA), the state-owned company operating the country's nuclear power plants. It will tender 44% of the share capital, while the State retains 51% and strategic control. A 5% share will go to employees.
On Thursday, the Argentine government published in the Official Gazette the measure declaring Nucleoeléctrica Argentina S.A. (NASA) subject to partial privatization, under article 8° of law 27.742 and the terms of law 23.696. NASA operates the country's three nuclear power plants: Atucha I, Atucha II, and Embalse. The public tender, both national and international, will cover 44% of the share capital, allowing private investors to enter without the State losing its majority stake or affirmative vote on key decisions, such as building new plants, capacity expansions, or incorporating partners with corporate control.
The process will be implemented by the Special Temporary Executive Unit “Agencia de Transformación de Empresas Públicas”, under the Ministry of Economy, with a maximum deadline of 12 months. The Secretariat of Energy will prepare the inventory of assets, technical and corporate documentation, and the share valuation, to be conducted by a public banking entity or, if not possible, by independent international or private organizations. The sale will take place via the CONTRAT.AR platform, per decree 416/2025, and will be overseen by the National Directorate of Patrimonial Normalization, together with the Secretariat of Labor, Employment, and Social Security, which will manage the Employee Share Ownership Program to allocate 5% of the shares to workers.
The document, signed by Economy Minister Luis Caputo, directs a review of the company's bylaws to adapt them to private capital incorporation. This initiative aims to reconfigure Argentina's nuclear sector, promoting private participation while preserving state control over strategic aspects.