Abengoa Yield and NextEnergy investment and equity news


Abengoa Yield has entered into an agreement with Abengoa to dropdown a second set of assets.

The assets – ATN2, an 82-mile transmission line in Peru; Shams, a 100 MW solar power asset in the UAE; Helioenergy 1-2, a 100 MW solar power asset in Spain; and Honaine and Skikda, two water desalination plants in Algeria – are valued at $142 million and the transaction has been approved by Abengoa Yield’s board of directors. Closure of the deal is subject to the satisfaction of customary conditions, including approvals from multiple agents.

Santiago Seage, CEO of Abengoa Yield, said, "This second dropdown will add 200 MW of installed capacity to our renewable portfolio, will reinforce our presence in the transmission lines sector and will permit us to enter into the water sector, which we expect will contribute to our future growth."

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Abengoa Yield also said that it had started conversations with Abengoa about a third potential dropdown that would include the $100 million call option announced in December.

In a similar vein, NextEnergy Solar Fund has announced that its intention to raise equity. In a statement, the investment firm said that it planned to issue a new tranche of New Ordinary Shares at a price of £1.0277 ($1.57) per share. The company said that its unaudited Net Asset Value stood at £182.4 million ($277.86 million) on 31 January 2015 and had increased by 0.7 per cent since 31 December 2014. It also claimed that the first two tranches of its Placing Program, under which it had raised £99.6 million ($151.74 million), had been ‘substantially invested or committed’.

In terms of its future, NextEnergy Solar Fund said it had ‘a strong pipeline of further assets’ available for acquisition, with a totally capacity of 148 MW and an investment value of £207 million ($315.34 million).

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