Jan 8 2016
Abengoa Yield plc (ABY), the sustainable total return company that owns a diversified portfolio of stable and long-term contracted infrastructure assets in the energy and environment sectors, announced January 7 that it has changed its corporate brand to Atlantica Yield, effective immediately. the parent company, is going through. The parent company Spanish Abengoa is in a restructuring phase and hopes to strike an agreement with creditors by a March 28 deadline or it can become the largest ever bankruptcy in Spain. According to Reuters 39.5% of Abengoa Yield’s share capital is tied to the financial backing of Abengoa loans.
As Atlantica Yield, the company says it will build on its heritage of owning high quality assets across key markets in North America, South America and Western Europe.
The ticker “ABY” will be maintained. The legal name of the Company will change once it is approved by the shareholders at the next Annual General Meeting.
On their website Atlantica Yield (Abengoa Yield) writes “We have signed an exclusive agreement with Abengoa, which provides us with a right of first offer on any proposed sale, transfer or other disposition of any of Abengoa’s contracted renewable energy, conventional power, electric transmission or water assets in operation located mainly in the United States, Canada, Mexico, Chile, Peru, Uruguay, Brazil, Colombia and the European Union.”
Abengoa Bioenergy is the owner of the ethanol operations including the new facility ethanol from Cellulose in Hugoton (Kansas, USA). Abengoa Bioenergy has currently got fourteen biofuel production plants located in Europe (Spain, France and the Netherlands), North America (United States) and Brazil with a total installed production capacity of 3,180 ML. Additionally, it is building the first second-generation (2G) commercial plant in the world in Hugoton (Kansas, US), capable of producing 95 Ml of bioethanol per year from wheat straw, corn stover and grass crops. In December Abengoa announced they have decided to suspend production in Hugoton and also in a corn based ethanol plant in Colwich, Kansas as well as shut down the Abengoa Bioenergy American headquarter in St Louis, Mo.
About Atlantica Yield
Atlantica Yield is a total return company that owns a diversified portfolio of contracted renewable energy, power generation, electric transmission and water assets in North America, South America and EMEA (www.atlanticayield.com).