Abengoa continues its divestment plan with the sale of four photovoltaic plants

As part of its divestment process associated to its bankruptcy, Abengoa has sold to Vela Energy four photovoltaic plants located in the provinces of Seville and Jaen. The agreement, implies a debt reduction of US$71 million and a net cash inflow of US$17,2 million.

The projects sold are the following: 

• Casaquemada, 1.88 MW located at the Solucar Platform in Sanlucar la Mayor;
• Cabezas de San Juan with a capacity of 5.70 MW,
• Copero, with a capacity of 0.90 MW in Dos Hermanas; and
• Jaen, Linares, with a capacity of 1.89 MW.

Abengoa owned 100 % of these plants, with the exception of the installation of Copero, in which it owned a 50 % stake.

This operation is part of the divestment policy of Abengoa and represents further progress in the feasibility process which the company is carrying out.

Recently, Abengoa has also announced the sale of the wind farm of Campo Palomas, located in Uruguay; its participation in the Shams-1 solar power plant, located in United Arab Emirates; as well as other properties such as the former headquarters of the company in Madrid.