Entidad Binacional Yacyretá (EBY) is a binational JV that operates the Yacyretá hydroelectric dam on the Argentina-Paraguay border. The power station has a total installed capacity of 3,200MW and provides power to both countries' grids. The agreement to build the dam was signed by the governments of the two countries in 1973 under the Yacyretá Agreement on the use of the Paraná River to generate energy. EBY comprises Paraguay's public national electricity administration ANDE and Argentina's Energéticos Binacional SA (EBISA), part of the country's ministry of energy and mines, with an equal equity interest. In May 2017, the parties signed a memorandum of understanding agreeing on the restructuring and payment of EBY's debts to its creditors including the Argentine government, ANDE and EBISA; and on the modernization and expansion of the plant in order to increase production and lower costs, among others.