MSU group

MSU Energy is a young and dynamic company that is part of the MSU Group. We are pushed by innovation, supported by a track record of more than 160 years doing business in Argentina.



MSU Group enters the energy industry with the analysis and preparation of a corn-based fuel ethanol project.


Evaluation and offer to purchase a power generation company.


Together with General Electric [GE], we began working on technological solutions, including turbines.


Beginning of construction of wind farms together with GE in Bahía Blanca.



Participation in public tender [Res. SEE 21/2016] with 4 projects for the construction of power generation plants.

Award of 3 power generation agreements [PPA] for the plants located in General Rojo, Barker and Villa María, with an installed capacity of 150 MW each.


Participation in the RenovAR Ronda 1 renewable energy program, with a project to build a wind farm.


Execution of turnkey construction agreement with GE regarding the 3 plants.

Beginning of construction of the General Rojo thermal plant.



Beginning of construction of the Barker and Villa María thermal plants


Startup of General Rojo thermal plant.


Participation in the public tender [Res. SEE 287/2017] for the conversion of the 3 plants, adding an additional gas turbine and a steam turbine to each of them. Submittal of co-generation projects [power and steam generation for the industry].


Award of all the submitted projects regarding the conversion of the existing plants.


Startup of Barker thermal plant.



Startup of Villa María thermal plant.

Issue of debt bond for U$S 600 million


Beginning of conversion works according to a turnkey agreement signed with AESA that will be in charge of the engineering, procurement and construction, and GE as provider of technology and equipment.


Start-up of the fourth gas turbine in each plant as part of the expansion and conversion works.


Completion of works and start up [COD] of the 3 combined-cycle plants.


Photo of Manuel Santos de Uribelarrea

Manuel Santos de Uribelarrea


Co-Founder and Chairman of MSU Energy S.A., Chairman and CEO of Juamarita S.A., and Co-Founder and Vice Chairman of MSU Agro.

He was pioneer and played a leading role in important technological changes in the agricultural industry in Argentina, such as direct sowing, new developments related to germplasm and biotechnology, transgenic seeds and precision agriculture, including the use of state-of-the-art equipment, among others.

He is an active member of the CREA Santa Isabel Group.

Together with his son, Manuel Santos Uribelarrea Jr., in 2000 he created MSU, one of the leading agribusiness companies in Argentina, with a total portfolio of more than 130,000 hectares, a production of over 700,000 tons of grains in Argentina, and operations in Uruguay, Paraguay and Brazil.

In 2008, he was granted the Konex Award to Rural Businessmen.

In 2015, he entered the power generation industry with MSU Energy.

In 2018, he has granted the Clarìn Rural Award as an outstanding achiever in agribusiness.
He studied agronomy at the Argentine Catholic University, and attended the Advanced Management Program – PAD- at the IAE Business School.

Photo of Guillermo Marseillan

Guillermo Marseillan

Vice Chairman

He is the Executive Director of the MSU Group, the Vice Chairman of MSU Energy and Director of other companies of the group.

Between 2006 and 2013, he was Director and General Manager of MSU Agro, and of other agribusiness companies of the group.

In 2013 and 2014, he was Strategy Director of Kumagro S.A. and Kumagro Semesntes do Brasil Ltda, both companies of the GDM Seeds – Don Mario Group, one of the world leaders in soybean genetics.

Between 1996 and 2006, he was Supply Manager of Glencore Cereales S.A.
Guillermo graduated as Agricultural Production Engineer from the Argentine Catholic University, and completed graduate business programs at the Belgrano and Palermo Universities.

Photo of Pablo Ferrero

Pablo Ferrero

Executive Director

He was Director, Chairman and CEO of several utilities both in Argentina and in the region, such as Metrogas, Petrobras Energía, Pampa Energía, Edesur, Refinor, Oldelval, Termap, Chilquinta (Chile), Luz del Sur (Perú), Promigas (Colombia) and Petrolera Andina (Bolivia), TGS, Transener, Emdersa, Eden, AEI-Ashmore Energy and Pérez Companc S.A. At present, he is also Director of Sempra Energy.

He graduated as Industrial Engineer from the Argentine Catholic University, and got an MBA from the University of Washington.

Photo of Jorge Martín Agnoletti

Jorge Martín Agnoletti


He is Director of MSU Energy. Since 2003, he has been Director of other companies of the MSU Group.

Between 2001 and 2003, he was CFO of Interbaires S.A. and Integralco S.A., both of the Exxel Group. He was also Senior Manager of PriceWaterhouseCoopers.

He graduated as Public Accountant from the University of Buenos Aires, and completed graduate programs at the IAE Business School.


We have a diversified and expert management team, with extensive experience in the energy industry and in the financial world. Know‑how, initiative, quick response capability and the best corporate governance practices.

The company stands out in the Argentine market for the professional quality of the management and operations staff.