EPSE began to hold energy storage contracts in 2007, within the framework of Resolution n. 1281/06 and Note n. 511/09 from the National Energy Secretary, first doing so from the Cuesta del Viento Hydroplant. Our sales provide support for excessive demand coming from large end-users in the wholesale electricity market; and said contracts provide a high level of earnings for the plant.
Renewable energies are redefining their place in Argentina. This is largely due to the fact that 8% of electrical generation must come from renewable sources as of 2018. In 2020, that percentage must reach a minimum of 20%.
The development of said sources of energy represent a lessening effect in the fight against climate change. EPSE has committed to the constant development of its projects alongside a care of natural resources while all the time responding to the constantly transforming energy matrix.
The benefits of renewable-energy utilization also reach into the realm of taxation. The benefits are laid out in Law 26190, which was modified and expanded on 21/10/2015 by law 27191, thereby amplifying the benefits and setting the 2018 (December 31, 2017) goal at 8% use of renewables.
-VAT return on investments, including VAT that was paid for equipment importation into the country. Sometimes payment is waived.
-Accelerated amortization in earnings tax. This mechanism increases the deduction via amortization in the determination of income tax for the first few years.
-Exclusion of the minimum presumed income tax.
-Extends the compensation period for income tax losses to 10 years.
-The dividends of profits that are distributed by investment project holders who benefit from the tax scheme will not be held to the 10% income tax which is otherwise under law; this applies to reinvestments in infrastructure projects.
-Beneficiaries who integrate a certain percentage of nationally-produced components into their facilities will receive a tax certificate to be applied toward national taxes as an additional benefit.
-Exemption is provided for the payment of import duties, special taxes or fees on items that are necessary for the generation of electricity through renewable sources, as long as no national manufacturer is able to provide the same item.