Abengoa Yield starts operations at 280-MW CSP plant in California

Dec 2, 2014 - Abengoa Yield Plc (NASDAQ:ABY), the yieldco unit of Spanish engineering firm Abengoa SA (BME:ABG), said on Tuesday that its 280-MW Mojave concentrating solar power (CSP) plant in California has began commercial operations.

The solar park uses equipment supplied by US conglomerate General Electric Co (NYSE:GE). It has the capacity to produce enough power to meet the annual electricity needs of around 90,000 homes in the state. Pacific Gas & Electric Co (NYSEMKT:PCG-A), or PG&E, will be buying the plant’s output under a 25-year power purchase agreement (PPA).

Abengoa Yield also owns the 280-MW Solana solar thermal power park in Arizona, which has been operating for a whole year now. The plant sells its generated electricity to local utility Arizona Public Service Co under a 30-year contract.

The company announced in September it will buy the Solacor and PS solar thermal power plants in Spain, which total 131 MW, plus the 50-MW Cadonal wind park in Uruguay. Its portfolio also includes 70% stakes in each of the 50-MW Solaben 2 and 3 solar farms in Spain as well as the 50-MW Palmatir wind park in Uruguay.

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