The $30m deal sees Equinor secure half of Luz de Leon, the development company behind the Cañadón León wind project.
Current shareholders include local energy firm YPF and a subsidiary of US conglomerate GE, which is also providing the turbines.
The project is already backed by a power purchase deal secured in the second round of Argentina’s RenovAr renewables procurement programme.
The deal remains subject to local authority approvals.
Equinor already has oil and gas assets in Argentina including one site partnering with YPF, and a solar power project.
Argentina's Renovar programme has made the country a promising emerging market.
But the ongoing recession and a lack of grid capacity are starting to affect the confidence of the sector.