Has Abengoa found its ideal equity partner?

Abengoa’s new deal with Algonquin Power will open up new routes to growth. It will also hasten the recycling of project equity.

Abengoa’s president Gonzalo Urquijo this month hailed his company’s deal with Canadian infrastructure developer Algonquin Power (APUC) as “a milestone” which will net it $515 million to pay off debts and cement its future. Once the majority of the debt to the hedge funds which financed Abengoa’s 2017 restructuring has been paid off, the company plans to grow its...

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