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Abengoa Announces Its First Asset Sale to Abengoa Yield

WASHINGTON, Sept. 22, 2014 (GLOBE NEWSWIRE) -- Abengoa (MCE:ABG.B/P SM) (Nasdaq:ABGB), the company that develops innovative technology solutions for sustainable development in the energy and environment sectors, today announced it has entered into a definitive agreement with Abengoa Yield, subject to the closing of financing, to sell three renewable facilities for a total amount of $323 million. The transaction has been approved by both Abengoa Yield's and Abengoa's boards of directors.

The renewable assets sold consist of:

  • Solacor and PS, Concentrating Solar Power assets with a combined capacity of 131 MW located in Spain,
  • Cadonal, a 50 MW wind farm located in Uruguay.

The closing of the operation is scheduled to be formalized before the end of the year and is framed within the Right Of First Refusal agreement signed by both companies.

About Abengoa

Abengoa (MCE:ABG.B/P SM) (Nasdaq:ABGB) applies innovative technology solutions for sustainability in the energy and environment sectors, generating electricity from renewable resources, converting biomass into biofuels and producing drinking water from sea water. (www.abengoa.com)

Forward-looking statements

This news release contains forward-looking statements. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this prospectus, including, without limitation, those regarding our future financial position and results of operations, our strategy, plans, objectives, goals and targets, future developments in the markets in which we operate or are seeking to operate or anticipated regulatory changes in the markets in which we operate or intend to operate. In some cases, you can identify forward-looking statements by terminology such as "aim", "anticipate", "believe", "continue", "could", "estimate", "expect", "forecast", "guidance", "intend", "is likely to", "may", "plan", "potential", "predict", "projected", "should" or "will" or the negative of such terms or other similar expressions or terminology. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Our actual results of operations, financial condition and the development of events may differ materially from (and be more negative than) those made in, or suggested by, the forward-looking statements.

Factors that could cause actual results to differ materially from those contemplated above include, among others, general economic conditions, changes in government expenditure budgets, challenges in making acquisitions, changes in public support of renewable energy, weather conditions, legal challenges to regulations, changes to subsidies and incentives that support renewable energy sources, government regulations, the volatility of energy and fuel prices, counterparty credit risk, failure of customers to perform under contracts, our ability to enter into new contracts as existing contracts expire, reliance on thirdparty contractors and suppliers, failure of newly constructed assets to perform as expected, failure to receive dividends from assets, changes in our tax position, unanticipated outages at our generation facilities, the condition of capital markets generally, our ability to access capital markets, adverse results in current and future litigation and our ability to maintain and grow our quarterly dividends.

Furthermore, any dividends are subject to available capital, market conditions, and compliance with associated laws and regulations. These factors should be considered in connection with information regarding risks and uncertainties that may affect Abengoa's future results included in Abengoa's filings with the U.S. Securities and Exchange Commission at www.sec.gov.

Abengoa undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or developments or otherwise.

CONTACT: Communication Department: Patricia Malo de Molina Melendez. Tel: +34 954 93 71 11 E-mail: communication@abengoa.com Investor relations: Barbara Zubiria Furest. Tel: +34 954 93 71 11 E-mail: ir@abengoa.com And our blog: www.theenergyofchange.comSource:Abengoa