December 14 (Renewables Now) - Spanish renewables yieldco Atlantica Yield Plc (NASDAQ:AY) plans to co-invest with its major shareholder, Canada’s Algonquin Power & Utilities (TSX:AQN), in a 200-MW wind project in the US state of Illinois.
Atlantica said on Friday it has signed with Algonquin a preliminary agreement in connection with the Sugar Creek project. The plan is to begin construction work on the wind farm in the first half of 2019 and complete the plant in 2020.
This will be the first drop-down from the Canadian company, which recently finalised the purchase of a USD-345-million (EUR 305m) stake in Atlantica from Abengoa SA (BME:ABG) and now holds a roughly 41.5% interest in the yieldco.
(USD 1.0 = EUR 0.885)