Santiago Caputo Consolidates His Dominance in the Argentine Nuclear Sector Following Reidel's Departure

The restructuring of Nucleoeléctrica SA marks a turning point in consolidating Santiago Caputo’s power over the Argentine nuclear sector. After Demian Reidel’s departure on February 9, accused of irregularities in contracts involving overpricing, the power structure around nuclear energy was completely realigned under the influence of the presidential strategist. What began as a technical management evolved into a political cleanup that exposed the true chains of command within the government.

The chain of power: how Santiago Caputo controls Nucleoeléctrica from the shadows

Santiago Caputo never imagined that Demian Reidel would fit into his vision for the nuclear sector. While designing the sector’s power structure, Caputo relied on Federico Ramos Napoli, Secretary of Nuclear Affairs, as his direct executive arm. Reidel, an economist and physicist who had also been a close advisor to President Javier Milei, led operations at the three main nuclear plants: Atucha I, Atucha II, and Embalse, in his role as head of Nucleoeléctrica.

The control system Caputo designed operates on two levels. On the formal level, Luis Caputo, Minister of Economy, oversees as the administrative boss, since NASA depends on his portfolio. In weekly meetings, he sets the “non-negotiable lines” for the company’s operation. But beneath this official structure operates Santiago Caputo, who maintains real political control through Ramos Napoli. Both share a long history, and through this chain, Santiago Caputo managed to secure total control over the nuclear sector’s dynamics. “With Reidel’s departure, the entire nuclear policy was aligned in the same direction,” explained sources from Casa Rosada.

Reidel out: corruption, incompetence, and political realignment

Demian Reidel’s management was marked by controversies that accelerated his fall. Allegations of irregularities in awarding a cleaning service with overpricing and in purchasing software undermined his institutional credibility. In his final days in office, Reidel publicly denied all accusations via posts on X, even regarding personal debts. However, the damage was already done.

His departure was presented as an orderly transition. Santiago Caputo’s officials stated that “Demian agrees with the change,” although those who knew him suspected a political operation to oust him. Reidel left without making public statements, avoiding turning internal government conflicts into a bigger scandal. Subsequently, he withdrew from the public scene, remaining silent while his defenders tried to distance him from the scandals.

Critics agreed that Reidel’s management was deficient. Government officials assured that “the members of the outgoing team ended up feeling they didn’t even know what they had gotten into.” Union leaders echoed similar sentiments: “Reidel didn’t have much knowledge of the Argentine nuclear sector. It was all very haphazard.” What became clear is that Reidel lacked the technical and administrative experience required to manage such a complex strategic sector.

Ramos Napoli takes over NASA: new technical team and administrative realignment

Federico Ramos Napoli, just 30 years old, solidified his position by assuming the leadership of Nucleoeléctrica’s board with a team of ten officials under his command. To replace Reidel in the operational role, he promoted Juan Martín Campos, a nuclear safety specialist and colleague from his previous management.

The new structure is composed of professionals with strong technical backgrounds: Martín Porro, Diego Chaher, Diego Garde, and Javier Grinspun. Unlike the previous management, which focused on “grandiose” projects with impossible deadlines, the new team offers realistic perspectives and results-oriented approaches. Both government sources and union leaders acknowledged that the new team brings “technical profiles and experience,” replacing a more “political” leadership.

Ramos Napoli, who was an employee of the General Secretariat of the Presidency in 2024, expressed his commitment to professional standards. He asked the team “to have a reassured confidence that there are no suspicions in the new hires,” a clear message of administrative reorganization. Nucleoeléctrica operates with between 2,900 and 3,000 workers, mostly technicians and professionals, with a smaller proportion of administrative staff.

The path toward privatization: timeline and commercial strategy

The restructuring of Nucleoeléctrica is no coincidence: it prepares the ground for its privatization. Diego Chaher, head of the Agency for the Transformation of Public Companies, has continued in his position from the previous management because his role is crucial in this process. As the official responsible for privatization under the Milei era, Chaher reports politically to Santiago Caputo.

The schedule is set. The government plans to release the bidding document before the end of the year, with the award expected before mid-2027. The law established a specific shareholding structure: 5% for workers, 51% for the State (distributed between the Secretariat of Nuclear Affairs and the National Atomic Energy Commission), and 44% for a private partner, which could be a business consortium.

The Casa Rosada seeks a major international partner with nuclear experience and ideally the capacity to add an additional reactor to existing operations. In 2025, speculation arose over a visit by a bipartisan delegation from the U.S. House Committee on Energy and Commerce to the Atucha Nuclear Complex, an event shared by Ramos Napoli on X. The government characterized it as “a routine visit,” but acknowledged interest in engaging with the United States, mainly as a technology and service provider.

Legacy of a failed management: Atucha I and the AI project

The new team inherited operational challenges accumulated during Reidel’s administration. Atucha I required a scheduled shutdown in September 2024 to carry out life extension processes for an additional 20 years. However, the previous management allowed significant delays. “There were obstacles in 2025 that caused delays of four to six months,” reported government sources. The new administration aims to restart Atucha I before September 2027, ideally before the summer of 2028.

During his tenure, Reidel also announced ambitious plans to position Argentina as the fourth global hub for Artificial Intelligence. The project envisioned OpenAI, the company behind ChatGPT led by Sam Altman, building a large-scale AI data center in Patagonia. Although Reidel’s supporters argued that the decision to implement the project was up to OpenAI and not the government, both officials and union leaders agreed that the mega-project remained at the planning stage. “The idea was too grandiose and with impossible deadlines,” admitted an official source. “It was destined to fail on its own weight,” concluded another official, despite the promotion it received from the President and his team.

With Reidel’s departure, a new management logic prevails: focus on concrete operations, technical professionalism, and preparation for privatization. Santiago Caputo has succeeded in consolidating his influence over the nuclear sector, transforming what seemed like an administrative conflict into a strategic power reconfiguration.