Backed by US$800 million in signed contracts, the Argentine power producer aims to expand its renewable energy customer base tenfold by enabling digital power purchase agreements via blockchain.
The Argentine power generation company YPF Luz has launched ENERTOKEN, a blockchain-based platform developed in partnership with Justoken to digitalise the contracting and management of electricity in Argentina. The initiative is designed to accelerate the company’s commercial strategy and significantly scale its power purchase agreement (PPA) portfolio.
Speaking at the launch event, Martín Mandarano, Chief Executive Officer of YPF Luz, said the company intends to “multiply by ten the number of clients” through the platform. YPF Luz currently serves more than 80 active customers, with signed PPAs representing a total contract value of US$800 million.
Argentina’s term market for large electricity users has historically focused on high-demand industrial off-takers. With ENERTOKEN, YPF Luz is targeting customers with contracted demand starting from 30 kW, including service stations with EV charging infrastructure, industrial parks, hotels and bank branches.
For larger clients, the company continues to pursue long-term renewable energy and thermal PPAs with mining, oil and gas, lithium and copper operators — sectors driving Argentina’s growing electricity demand.
“Our ambition is for companies to buy and sell electricity directly from their phone, as easily as they carry out banking transactions today. We need to build a culture where energy transactions can be managed digitally,” Mandarano said.
At this stage, the platform is focused on large users, as extending it to residential customers would require broader regulatory reform. However, the system has been designed to accommodate future market liberalisation.
In its first phase, ENERTOKEN enables companies to contract renewable energy and thermal power through a fully digital process — from cost simulation and commercial terms to electronic contract signature.
The platform includes an automated savings simulator, allowing users to estimate potential cost reductions based on wholesale electricity market data and their declared annual consumption profile.
In a second phase, ENERTOKEN will operate as a client management portal for the company’s existing customer base.
Currently, YPF Luz commercialises approximately:
This commercial portfolio is backed by 756 MW of installed renewable capacity, alongside projects under construction, including:
By the end of the year, the company expects to reach 3.8 GW of total installed capacity, more than 1 GW of which will be renewable energy, supplying around 10% of Argentina’s national electricity demand.
De-risking projects through pre-sold PPAs
YPF Luz’s commercial model is designed to reduce market exposure by securing PPAs prior to commercial operation dates (COD).
“We sell in advance for delivery upon each project’s COD,” Mandarano explained, underscoring the strategy of locking in revenue streams before assets enter operation.
This approach aligns with international best practice among independent power producers (IPPs), providing revenue certainty and supporting project financing.
ENERTOKEN represents one of the largest real-world asset tokenisations in the global energy sector. Contracts and generation assets worth more than US$800 million have been tokenised on the public Ripple (XRP Ledger) blockchain network.
The tokenisation of generation capacity and energy output enables traceability and accountability of each digital token — from generation to final allocation to the end customer.
According to Mandarano, the objective is also cultural: demonstrating that electricity procurement can be simple, transparent and cost-efficient, while leveraging digital infrastructure to modernise Argentina’s power market.
As digitalisation accelerates across global energy markets, blockchain-based platforms such as ENERTOKEN may play an increasing role in renewable energy procurement, distributed generation management and long-term PPA contracting.
