Argentina Moves Towards Nuclear Energy Privatization
Argentinian President Javier Milei plans to privatize part of the Nucleoelectrica Argentina, aiming to reduce state size and attract private investment. The initiative involves selling 44% of shares while retaining state-majority control. Critics warn of potential higher energy costs and safety concerns from diminished state oversight.
President Javier Milei of Argentina is set to introduce a decree partially privatizing the company overseeing the nation's nuclear power plants, signaling a step forward in his agenda to decrease governmental size. On Tuesday, spokesperson Manuel Adorni confirmed plans to offer 44% of Nucleoelectrica Argentina's shares in an international public tender.
The government intends to maintain a 51% ownership while initiating a joint ownership scheme for an additional 5%. This strategy is designed to encourage private investment for the construction of Argentina's first modular reactor and to enhance uranium mining, according to Adorni. The Libertarian government views privatization as a potential avenue for various state-owned enterprises.
Upon his inauguration in December 2023, Milei committed to curbing expenditures against a backdrop of triple-digit inflation. The administration states that private capital investment is critical for fostering operational efficiency and competitiveness of NA-SA. Opposition from a workers' group highlights concerns over potential price hikes and advocates for robust state involvement to uphold nuclear energy safety standards.
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