What Andina does

Andina PLC is a UK-incorporated, AIM-listed holding company that invests in regulated electricity distribution and renewable power generation assets in Argentina. Founded in 2020 and headquartered in Sheffield, the company operates a portfolio of three core assets: EDENOR (Empresa Distribuidora y Comercializadora Norte S.A.), Argentina's largest electricity distribution company serving approximately 3.6 million customers across a 4,637 sq km concession area in the northwestern greater Buenos Aires metropolitan region and northern Buenos Aires City (population approximately 9 million); EDEMSA, a distribution utility operating under a concession in Mendoza Province; and HASA, a hydroelectric power plant contributing to Andina's 150 GWh per year of renewable generation. Andina's interest in EDENOR is structured indirectly via a 23.40% equity participation in South American Energy LLP, which owns EDELCOS — the entity that acquired a 51% controlling stake in EDENOR for USD 100 million on 30 June 2021, giving Andina an 11.93% economic and voting interest.

The company's revenue model is anchored in regulated utility tariffs and concession-based distribution fees levied on residential, commercial, and industrial electricity consumers, supplemented by hydroelectric generation revenue. Pricing is administered by Argentine regulatory authorities, which provide contracted cash-flow visibility but limit commercial pricing flexibility. The asset base is capital-intensive and long-duration, and operational execution is housed within the subsidiaries while Andina PLC retains a corporate headcount of 11-50 employees.

Corporate strategy since founding has centered on the 2021 EDENOR transaction, a USD 3.03 million private placement from a US investor, and a USD 10.7 million debt-for-equity swap that converted legacy debt obligations (from 2005 and 2011) into share capital, creating the equity base needed to participate in the acquisition. Post-2021, the company has focused on governance refresh (multiple board additions in July and October 2021 adding Argentine legal, regulatory, and policy expertise), concession management (the 2023 EDEMSA Settlement Agreement with the Province of Mendoza extending its distribution concession with new terms), and stated intent to develop additional renewable energy projects in Argentina.

Name

Andina

Legal name

Andina PLC

Website

https://andinaplc.com

Company type

Public

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Andina PLC is a UK-listed (AIM) holding company investing in regulated electricity distribution and hydroelectric power generation in Argentina, including an indirect 11.93% stake in EDENOR (serving 3.6 million Buenos Aires customers) and the EDEMSA Mendoza concession.

Ownership category

akta.pro rank

Product category

Electricity Distribution

NAICS

Hydroelectric Power Generation (221111), Electric Power Transmission, Control, and Distribution (22112)

SIC

Electric Services (4911), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Operations Control & Dispatch (Remote Operations Centers, Curtailment, Compliance) (EUAMAGAK)

akta.pro secondary industry

Energy Management Systems & Plant Controllers (PPC, AGC Participation, Curtailment Control) (EUAMAIAI)

Keywords

• Electricity distribution
• Hydroelectric generation
• Regulated utility services
• Renewable energy development
• Power transmission

Headquarters

HQ city

Sheffield

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Technology or R&D, Supply Chain

Revenue model

1. Electricity Distribution Services: Regulated electricity distribution services to customers in Argentina through EDENOR (largest electricity distribution company in Argentina) and EDEMSA. Revenue is derived from regulated utility tariffs and distribution fees.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels1 record

Core offering

Andina PLC is a British energy company that distributes electricity and delivers regulated public services in Argentina through its subsidiaries EDENOR and EDEMSA, serving approximately 3.6 million customers in Buenos Aires and Mendoza Province. The company also operates the HASA hydroelectric power plant, producing 150 GWh of renewable energy per year, and is developing additional renewable energy projects as part of an energy transition strategy.

Product overview

Andina PLC is a British energy company operating a portfolio of electricity distribution utilities and hydroelectric power generation assets in Argentina. The company operates three core products: EDENOR (Argentina's largest electricity distribution company serving ~3.6 million customers in Buenos Aires), EDEMSA (distribution concession in Mendoza Province), and HASA (hydroelectric power generation producing 150 GWh). The company is focused on developing renewable energy projects and transitioning legacy electricity infrastructure to smart energy solutions.

Differentiator

Problem solved

Functional benefit

Brands

• EDENOR: Empresa Distribuidora y Comercializadora Norte S.A. - Largest electricity distribution company in Argentina serving northwestern Buenos Aires metropolitan area and northern Buenos Aires City with approximately 9 million population
• EDEMSA
• HASA

Products and services

• EDENOR (Empresa Distribuidora y Comercializadora Norte S.A.) Argentina's largest electricity distribution company by customers and electricity sold, distributing electricity exclusively in the northwestern zone of the greater Buenos Aires metropolitan area and the northern part of Buenos Aires City, serving approximately 3.6 million customers.
• EDEMSA Electricity distribution utility operating under a concession agreement with the Province of Mendoza, Argentina, with a Settlement Agreement extending and renewing its energy distribution concession.
• HASA (Hydroelectric Power Generation) Hydroelectric power generation plant producing renewable energy, with a defined basin area and average annual river flow metrics, contributing 150 GWh of renewable hydroelectric energy production annually to Andina's portfolio.

Quantifiable outcome

• Distribution to almost 3.6 million customers across Argentina
• +1 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered minor and core.

• Coca-Cola bottling system (Femsa, Brasal, Sorocaba Refrescos, Uberlândia Refrescos)minorStrategic or Co-development Partner · 20 February 2026Andina participates in Coca-Cola's bottling system distribution network in Brazil as part of a distribution agreement with Cerpa (Brazil's fifth-largest brewer) to expand national presence through shelf space previously occupied by Heineken.
• Province of MendozacoreStrategic or Co-development Partner · 3 January 2023EDEMSA (Andina's subsidiary) entered into a Settlement Agreement with the Province of Mendoza contemplating an extension and new terms for its energy distribution concession.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Pampa Energía: Integrated Argentine energy company with power generation, transmission and distribution (Transener stake). Highly comparable to Andina for its regulated Argentine utility exposure combined with generation and transmission assets.
• YPF Luz: Power generation arm of Argentina's YPF, operating thermal, wind, and hydro assets across the country. Comparable to Andina for the Argentine power-generation focus, particularly HASA's hydroelectric output.
• Edesur (Argentina) - Enel Distribución Sur: Operates as the second-largest electricity distribution company in Argentina, serving the southern zone of greater Buenos Aires. Directly comparable to Andina's EDENOR asset in terms of business model, regulated concession structure, and customer base.
• Central Puerto: One of the largest private-sector power generators in Argentina, with a mix of thermal and renewables. Comparable to Andina for Argentine power-generation exposure and similar country/macro risk profile.

Broad incumbents

• Enel Americas: Major Latin American electric utility holding company with distribution and generation across Argentina, Chile, Colombia, and Brazil. Comparable for Argentine distribution exposure (Enel owns Edesur in Argentina).
• AES Argentina / AES Corporation: Generation-focused energy company operating thermal, hydro, and wind assets in Argentina. Comparable to Andina's HASA hydroelectric generation business within the same Argentine power market.

Regional players

• Transener: Main Argentine high-voltage transmission system operator. Comparable to Andina as a regulated Argentine electricity infrastructure operator, though focused on transmission rather than distribution.

Emerging players

• Globeleq: UK-based developer and operator of renewable power assets across emerging markets in Africa and the Americas. Comparable to Andina as a UK-listed platform pursuing renewable energy opportunities in emerging markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/andina-plc

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Andina