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.
Abengoa, the international company that applies innovative technology solutions for sustainability in the infrastructure, energy and water sectors, in connection with the agreement with Algonqui...
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