The municipality has 15,000 inhabitants as per the 2001 census [INDEC], though unofficial counts including the neighboring areas give a population of over 30,000, which grows by several thousands during the tourist high season.

The word embalse means "reservoir" (i. e. artificial lake) in Spanish.

Embalse is located along the eastern shore of a large reservoir produced by the damming of the Río Tercero.

The dam was inaugurated in 1930; it is 58 m high and 125 m long, with a maximum capacity of 730 million m³.

The reservoir has an area of 58 km² and is employed for fishing, irrigation and the production of hydroelectricity, as well as water sports.