Thomas F. Morante, partner, and Barbara Efraim, attorney, both at Pierson Ferdinand: “Lifting of capital controls, coupled with the IMF’s lending package and Argentina’s adoption of other reforms, is expected to promote foreign investment in power generation, transmission and other energy projects. As part of the IMF agreement, and in an effort to promote growth in the energy sector, President Milei’s government is continuing to privatize several state-owned energy companies, lower overall export taxes and eliminate subsidies previously given to select industries. The government is expanding the RenovAr initiative, an auction-like system that incentivizes private investment in renewable energy projects, by introducing the Régimen de Incentivo para Grandes Inversiones (RIGI). RIGI, also applicable to projects such as liquefied natural gas and lithium that are currently under review, protects investors by offering long-term tax, customs and foreign…”
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