Argentina's Impsa targets IPO

Impsa, the Argentine wind turbine manufacturer and renewable energy operator, is ready to launch an initial public offering (IPO) when conditions allow in the Brazilian and/or US financial markets, a senior executive tells Recharge.

“The company is ready because it has implemented all the governance mechanisms,” says José Luis Menghini, executive vice president of Impsa’s Brazilian subsidiary.

Impsa’s financial advisors prefer the US market, but Brazil could offer good results since it's where the company has significant commercial activity.

Menghini said a share sale is part of wider strategy to finance the company's investment plans and is complementary to raising capital through debt.

“But since everything is ready for an IPO, it's an interesting option now,” he says.

The company, based in the province of Mendoza in western Argentina, canceled planned IPOs in both 2009 and 2010 amid a downturn in markets following the global financial crisis.

Impsa fabricates both wind and hydroelectric turbines in Brazil where more than 80% of its assets are located. It also has a research center there. It also controls about 800MW in wind generation capacity in operation or under construction in Brazil, 115Mw in Uruguay and 155MW in Argentina

The company's reported $749m in 2013 revenue, down from $1bn in 2012.

In 2013, it concluded a corporate restructuring process in which all assets are held by Luxembourg-based Venti SA. These include 100% of Impsa – Argentina assets – and WPE, which controls assets in both Brazil and Uruguay.


Vestas gets 58MW Poland order

01 September 2014 05:44 GMT

Glennmont round raises €500m

01 September 2014 04:34 GMT

Scots grant licence for EOWDC

01 September 2014 03:00 GMT

Aikengall extension opposed

01 September 2014 02:31 GMT

Drive to cut UK offshore costs

01 September 2014 01:21 GMT

Met Office launches German service

01 September 2014 12:43 GMT

Mainstream switches strategy

01 September 2014 12:29 GMT

IN DEPTH: The Eno success story

01 September 2014 12:07 GMT

NTR exploring US wind sale

29 August 2014 05:30 GMT

Siemens mulls options in Brazil

29 August 2014 08:28 GMT

Invenergy finances Quebec project

29 August 2014 04:29 GMT

400MW Global Tech 1 set to go

29 August 2014 03:10 GMT

First wind farm spins in Samoa

29 August 2014 09:10 GMT

Cape Wind faces new legal appeal

28 August 2014 05:46 GMT

Become a Recharge subscriber!

Or try our free trial.

Order Subscription

Already a member?


Recharge Monthly Magazine