Abengoa back to work at 100-MW PV park in Chile

Abengoa SA (BME:ABG) is restarting construction work on a 100-MW solar photovoltaic (PV) park in Chile’s Atacama Desert, with power generation scheduled to commence in the second quarter of 2017.

The Spanish engineering and renewables group has transferred to EIG Global Energy Partners the ownership of the PV project and a 110-MW concentrated solar power (CSP) plant with 17.5 hours of energy storage capacity, which together form the Atacama solar facility in Chile.

The deal with energy and infrastructure investor EIG was in line with Abengoa’s efforts to reduce its intensive capital involvement in integrated projects, and focus on engineering and construction. Abengoa will remain in charge of the engineering, procurement and construction (EPC), as well as the operation and maintenance, of the two solar farms in Atacama.

The company said it and EIG will continue to work together to reach financial close and to ensure the definitive restart of onsite works in the first half of 2017.

In early 2015, Abengoa announced a final deal with EIG to create a joint venture that will hold renewable energy plants and assets. The Atacama PV and solar thermal projects were among the first to be transferred to the new company. Now EIG is the owner of the two projects after a transaction last October, Abengoa said.

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