Abengoa will subscribe a 51 % of the capital increase that Abengoa Yield has priced to finance this acquisition.
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 to sell a third asset package comprised of four renewable assets for a total cash proceeds of approximately 614 million euros. The transaction has been approved by both Abengoa Yield and Abengoa’s board of directors. Closing is subject to the customary approvals.
The assets consist of:
- Helios 1 and 2 (100MW solar complex), Solnova 1, 3 and 4 (150 MW solar complex) and the remaining 70 % stake in Helioenergy 1 & 2 (100 MW solar complex of which Abengoa Yield already owned a 30 % stake), all in Spain.
- A 51 % stake in Kaxu, a 100 MW solar complex in South Africa.
Abengoa will subscribe a 51 % of the capital increase that Abengoa Yield has priced to finance this acquisition.
The call option agreement to purchase up to 100 M$ in concessional assets, at a 12 % yield, signed with Abengoa Yield in December 2014 has been exercised in this transaction.
