Connect with us

Hi, what are you looking for?


Clean Power

Abengoa To Transfer 450 MW CSP Capacity To Yieldco In €614 Million Deal

There’s a new yieldco on the block, Abengoa Yield, and the company will take over a number of concentrated solar power projects from its parent and developer, Abengoa Solar.

The Spanish project developer has announced that it will transfer power generation assets in Spain and South Africa to its yieldco. The assets to be sold off include Helios 1 and 2 complexes with total generation capacity of 100 MW, Solnova 1,3, and 4 projects with combined generation capacity of 150 MW, and Helioenergy 1 & 2 with 100 MW capacity, all of which are located in Spain. Yield will also take up a 51% stake in the Kaxu solar power project in South Africa. All projects are concentrated solar power (CSP) plants.

Abengoa Yield will also have the first right to buy any additional projects that the parent company plans to sell in the future. These projects would not only include solar power plants, but also conventional power plants, power transmission projects, and water assets.

Abengoa Solar has solar power projects in US, Canada, Mexico, Chile, Peru, Uruguay, Brazil, Colombia, and throughout the European Union. Abengoa has secured 3 CSP projects under South Africa’s Renewable Energy Independent Power Producer Procurement Programme. Apart from KaXu Solar One, South Africa’s first CSP project, the company is also working on Khi Solar and Xina Solar projects. The combined generation capacity of these projects is 250 MW.

Transfer of renewable energy assets to yieldco vehicles by project developers has become a popular practice over the last few months. This allows the developers to streamline operations and eventually raise additional funds by floating initial public offers for the yieldco.

Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Written By

Smiti works as a senior solar engineer at a reputed engineering and management consultancy. She has conducted due diligence of several solar PV projects in India and Southeast Asia. She has keen interest in renewable energy, green buildings, environmental sustainability, and biofuels. She currently resides in New Delhi, India.


You May Also Like

Clean Power

Kooky-sounding idea of beaming down solar power from space is actually a real thing, and the US Air Force is on it.

Concentrating Solar Power

Concentrated Solar Power (CSP) is the form of solar that can store the sun's energy thermally for on-demand electricity generation. CSP is clean energy,...

Clean Power

Originally published on Planetsave. The financially troubled international renewable energy pioneer Abengoa, which filed for bankruptcy protection last November, has been granted bankruptcy protection...

Clean Power

Electricity generated by the first 160-megawatt portion of the 580-megawatt Ouarzazate CSP plant will be added to the grid in Morocco beginning in December. The...

Copyright © 2023 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.