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)