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Abengoa to sell 70-MW wind farm in Uruguay to Invenergy

Vestas turbine. Author: germanborrillo. License: Creative Commons, Attribution-ShareAlike 2.0 Generic.

April 4 (SeeNews) - Spain’s Abengoa SA (BME:ABG) has entered into an agreement to sell the 70-MW Campo Palomas wind farm in Uruguay to Invenergy Wind LLC, thus releasing USD 37.5 million (EUR 33m) of debt obligations.

The debt-laden Spanish renewables and engineering group will continue to be in charge of building the USD-49-million facility in Salto department that was awarded by the state-owned Electric Power Plants & Transmissions (UTE). It will comprise 35 Vestas V110 - 2.0 MW wind turbines. The start of commercial operations is scheduled for next February.

Abengoa noted that the sale is included in its previously announced divestment plan.

Separately, Chicago-based Invenergy said it has reached financial close on the Campo Palomas wind project. It has secured financing from the Inter-American Investment Corporation, with DNB serving as the mandated lead arranger and B-loan participant. Invenergy was advised on the debt transaction by Madrid-based Voltiq.

(USD 1.0 = EUR 0.879)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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