in News Departments > New & Noteworthy
print the content item

Following in the footsteps of such developers as Pattern Energy and NextEra, Abengoa has announced a new yieldco, Abengoa Yield PLC, and intends to commence an initial public offering (IPO) of the unit.

Abengoa Yield will serve as the primary vehicle through which Abengoa will own, manage and acquire renewable energy, conventional power, electric transmission lines and other contracted assets, initially focused on North America, South America and Spain.

Abengoa says it has filed an application for listing of the ordinary shares of Abengoa Yield on the NASDAQ Global Select Market under the symbol ABY. The company expects gross proceeds of approximately $600 million, prior to underwriting commissions and discounts and other offering expenses. The underwriters of the offering will have a 30-day option to purchase up to an additional 15% of that amount from Abengoa, to cover over-allotments, if any.

Abengoa Yield intends to distribute all of the net proceeds of the offering, less $30 million to strengthen its liquidity position, to Abengoa as part of the consideration payable to Abengoa for the transfer of assets to Abengoa Yield.

Citigroup and BofA Merrill Lynch are acting as global coordinators of the IPO.  Canaccord Genuity, HSBC, RBC Capital Markets and Banco Santander are acting as joint bookrunners.


Trachte Inc._id1770
Latest Top Stories

Senate Passes Tax Extenders Bill With Wind PTC Extension

The legislation, which passed in the U.S. House earlier this month, will renew the critical production tax credit through the end of 2014 - giving developers only about two weeks left to start construction.


Transmission Study Shows Nebraska Could Handle A Lot More Wind Power

A new report released by the Nebraska Power Review Board finds that the state already has enough infrastructure to accommodate at least 2 GW of additional wind generation.


Can Wind Energy And Birds Coexist? Environmental Group Says Yes

The Environmental Defense Fund, a supporter of responsible wind energy development, points out ways to help mitigate impacts of turbines on birds and bats.


Another Study Finds Wind Turbines Do Not Affect Nearby Property Values

Research conducted by the University of Guelph focused on regions in Ontario, and the conclusion echoes that of previous studies.


Too Little, Too Late? U.S. House Approves Wind PTC Extension

The U.S. House of Representatives has passed a tax extenders package that would renew the wind production tax credit (PTC) and about 50 other expired tax breaks through 2014. The wind industry argues the short-term fix is virtually no fix at all.

Hybrid Energy Innovations 2015