September 29, 2022 |
Petrolera Aconcagua Energía (PAESA), a junior oil producer in Argentina, said Wednesday that it reached an agreement with its sister company Aconcagua Energía (AESA) to spin off a new venture to spearhead investments in the renewable energy sector.
The new company, Aconcagua Energía Renovables (AERSA), will be 75% owned by AESA and 25% by PAESA, they said in a securities filing.
The spinoff will seek to accelerate investments in renewable power generation, allowing PAESA to focus on developing i
Aconcagua Energía is seeking to grow in clean energy through the spin-off