Full Breakdown
Patagonia Becomes a Magnet for Mega Data-Center Proposals
9/8/2026, 1:45:15 AM
Core Development: Investor Interest and Planned Facilities
Patagonia’s cool climate, wind resources and proximity to the Vaca Muerta shale-gas field are attracting hyperscalers and energy firms. Companies such as Pampa Energía, Green Capital, FlexDomes and OpenAI’s partner Sur Energy have disclosed plans ranging from 20–40 MW pilots to clusters of up to 3 000 MW. Pampa Energía is evaluating a 500 MW site near its Loma de la Lata plant in Neuquén, estimating $900 million in infrastructure costs, with a 30 MW first stage in a Bahía Blanca free-trade zone slated for late 2026. Green Capital is leasing about 1 300 km² south of Trelew to build wind and solar farms feeding an initial 300 MW data center, with a long-term ambition of 3 000 MW. FlexDomes proposes a 120 MW first stage costing $1.4 billion, while OpenAI’s “Stargate” project with Sur Energy envisions up to 500 MW and an investment of roughly $25 billion, targeting a 100 MW phase in 2027.
Background & Context: Policy Incentives and Political Climate
Since President Javier Milei took office in December 2023, Argentina has promoted the RIGI regime, offering 30 years of tax, customs and foreign-exchange stability, a 25 % corporate-income-tax rate and unrestricted profit repatriation. A draft “Super RIGI” bill pending Congress would lower the tax rate to 15 % and raise the entry threshold to $1 billion, explicitly naming data centers. Milei’s administration has met leaders of Apple, OpenAI, Google and Meta and highlighted Patagonia as a strategic AI-infrastructure location.
Key Figures & Groups
- Ruben Turienzo – Commercial director, electricity, Pampa Energía.
- Hadassa Lutz – Co-founder, Cloud2Ground.
- Ruben Etcheverry – Secretary, Neuquén development council.
- Gabriel Obrador – Representative, FlexDomes.
- Marta Zlotkowska – Head of international development, Green Capital.
- Luis Schilling – Latin America co-chair, iMasons.
Data & Statistics
- Energy demand: 20 MW pilots to 3 000 MW mega-clusters.
- Infrastructure costs: $900 million for 500 MW (Pampa Energía); $1.4 billion for 120 MW (FlexDomes); $3 billion for 300 MW (Green Capital).
- Land use: Green Capital leasing ~1 300 km² for renewables.
- Investment magnitude: OpenAI-Sur Energy partnership projected at $25 billion.
Official Statements & Responses
Gabriel Obrador said the 120 MW FlexDomes stage would “use Vaca Muerta energy.”
Verbatim Quotes
Conflicting Reports & Gaps
- The OpenAI-Sur Energy partnership is described as a letter of intent signed in October 2025 with a first 100 MW phase due in 2027, while earlier Reuters coverage referenced an announcement “last October” without specifying the year.
- Cost estimates differ: Pampa Energía cites $900 million for a 500 MW grid connection, whereas Green Capital’s plan does not include comparable grid-connection costs, leaving total outlays unclear.
- No firm contracts have been disclosed for most announced capacities; many projects remain at inquiry or feasibility stages.
What’s Next: Upcoming Milestones
- Site-tour trips for investors scheduled for February 2026.
- Pampa Energía aims to finalize initial investment agreements by late 2026.
- The Super RIGI bill remains pending in Congress.
- OpenAI’s first 100 MW phase is projected for 2027, contingent on a definitive contract with Sur Energy.
