Abengoa to sell 100 MW of Concentrated Solar Power plants to yieldco

Abengoa to sell 100 MW of Concentrated Solar Power plants to yieldco

Abengoa to sell 100 MW of Concentrated Solar Power plants to yieldco

Abengoa says sells its fourth packet of assets, consisting of two concentrated solar power plants in Spain, to its Abengoa Yield affiliate for 277 million euros.

Abengoa (MCE: ABG.B/P SM /NASDAQ: ABGB), the international company that applies innovative technology solutions for sustainability in the energy and environment sectors, today announced that it has reached an agreement with Abengoa Yield (NASDAQ: ABY) to sell a fourth asset package comprised of two solar assets for a total cash proceeds of approximately 277 M€. The transaction has been approved by both Abengoa’s and Abengoa Yield’s board of directors and it is not subject to financing by the purchaser.

The assets consist of Solaben 1 and 6, recently rated by S&P as BBB, two 50MW solar plants located in the Extremadura region of Spain, which have been in operation since 2013. According to Abengoa Yield, the transaction is not subject to financing by the purchaser.

Abengoa (MCE: ABG.B/P SM /NASDAQ: ABGB) applies innovative technology solutions for sustainability in the energy and environment sectors, generating electricity from renewable resources, converting biomass into biofuels and producing drinking water from sea water.