Alphavalue / Divancons | The Spanish company, in a consortium with the Sepcoiii company, has started commercial operation of Phase 2 of the Taweelah desalination plant, located in Abu Dhabi, following successful completion of the contractual tests. Specifically, it is the largest reverse osmosis desalination plant in the world (909,218 cubic metres/day) and the first to combine the production of drinking water with the generation of clean energy. The project...

Judge Jesús Gabaldón Codesido, in charge of the liquidation of Abengoa’s most valuable assets, has decided to award those businesses to Cox Energy, the Spanish renewables group founded by Enrique Riquelme. This brings to an end a long process that began months ago, following the collapse of Abengoa, the largest industrial bankruptcy in Spain so far. Santander, CaixaBank, BBVA, Crédit Agricole and HSBC have five days to validate the operation....

The sale of Abengoa’s production subsidiaries is now in its final phase. All that remains is for the judge to make his decision in a process in which four bidders stand out: Urbas, Cox Energy, Terramar and RCP. The fifth bidder in the initial round of bids, Ultramar, has not submitted an improved offer.With all the documents delivered to the Mercantile Court number three in Seville on 3 March, the...

The Central Government and the Andalusian Regional Government agreed on Monday to “delimit” the network of around 300 subsidiaries of multinational Abengoa that could be saved. This will necessarily require them to have business activity and a workload. In any case, the operation will require the backing of Brussels, according to both administrations. Their work begins this Tuesday with a technical working group to analyse the viability plan presented by...

Abengoa has submitted to the State Industrial Ownership Corporation (SEPI) all the documentation and information required to obtain new financing for a total amount of 249 million euros from the Solvency Support Fund for Strategic Companies. “The application for this SEPI Financing continues to be processed, having submitted all the documentation and information required by SEPI”, the Andalusian company said in a statement sent to the Spanish National Securities Market...

Abengoa has informed the Comisión Nacional del Mercado de Valores (CNMV) that Ernst & Young has requested the 3rd section of the Commercial Court of Seville to suspend the powers of the board of directors. E&Y, at the request of the judge, is in charge of the bankruptcy administration of the company (with more than 5 billion in debt). In addition, E&Y – the insolvency administration – has requested that...