Algonquin completes acquisition of 16.5% stake in Atlantica Yield
Algonquin Power & Utilities announced that it has completed the acquisition of a 16.5% share in Atlantica Yield for a total price of US$345 million. The transaction happened after the acquisition of the 25% stake on March 2018. Algonquin's shareholding is now at 41.5%.
Atlantica Yield, a yieldco vehicle created by Abengoa, owns a portfolio of long-term contracted assets, including 1.7 GW of clean power generating capacity, mostly renewable, transmission lines and two desalination plants.
A US$305 million portion of the overall transaction value was paid on the closing date. The remaining amount will then follow at a later point after meeting certain conditions.
Country updates
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