EFESA received its certification as “B Corporation”

EFESA received its certification as “B Corporation”

EFESA received its certification as “B Corporation” 1000 626 Efesa

EFESA (Federal Corporation of Energy S.A) is a corporation of Argentine-Spanish origin and belongs to DAGMA, INVERCLUB, and NORTIA economic groups, which work in the generation of photovoltaic solar energy. In the last few days, it was certified as B LAB and, thus, turned into the first B Corporation in the group. EFESA works in the sustainable development of the country based on the generation of renewable energy from the Photovoltaic Solar Energy Park “De Los Llanos”, in Chamical, La Rioja.

“Having achieved this certification is very important for us. Being a B corporation is a constant challenge because it entails thinking about and working for the welfare of our community and our environment. We have a commitment towards sustainable development in the country and that drives us to innovate and to contribute to the generation of renewable energy” claimed Francisco Muro, CEO of EFESA.

The Goal of B corporations is to prove that a corporation’s economic growth can go together with the creation of benefits for society and the planet. These corporations take advantage of the market forces to give solutions to environmental and social problems and develop their activity generating a triple impact – economic, social, and environmental- in a simultaneous way, having a legal and long-term commitment to ongoing improvement. There are 3,500 B Corporations in 71 countries in the world and 120 are in Argentina. B corporations commit to generating a positive impact on society and the environment, by operating with high social, environmental, and transparency standards, while they seek the best financial performance.

In order to protect this double mission before possible changes of direction, corporations incorporate a commitment in their bylaws to taking not only the financial interests of their shareholders but also other long-term interests such as the employees, suppliers and clients, the community to which they belong and the environment into account. Production of electricity through renewable sources of energy has been declared of national interest. Through Law 27,191, in October 2015, it was established that 20% of the electricity consumed at a national level should be generated by renewable sources by 2025. EFESA decided to contribute to achieving the goal through the development, building, operation, and maintenance of an electric-energy-generating photovoltaic solar park. For this reason, it generates renewable energy for the consumption of other companies and it turned into the first MaTer Corporation (Acronym in Spanish for Mercado a Término de Energías Renovables: Renewable Energy Futures Market) in Argentina.

The park, installed on 170-hectare land, started running in February 2018 with the first 12 MW of power. In 2019 the capacity was increased to 20 MW and it is expected to be increased to 30 MW with which it will have more than 100 polycrystalline panels of 72 cells each. Today, it means more than 3% of the photovoltaic energy in the country.

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