Abengoa mas

Abengoa, In The Hands Of The Judge

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…

Abengoa anticipates tripling its billing in 10 years

Abengoa’s Desperate Situation Or How To Remove The Wreckage Of A Company

Abengoa would have demanded the Solvency Support Fund for Strategic Companies from the Spanish government, a tool designed to help companies affected by the pandemic, for the rescue of its company Abenewco 1, to which it transferred the most valuable assets and activities of the broken parent company.  The group would try to preserve these assets and to keep operating a subsidiary in which almost 13,000 employees are still working.

Abengoa Abenewco

The New Abengoa Puts 24 Subsidiaries Up For Sale; Considers Requesting State Aid To Stay Afloat

This operation will serve as compensation for the creditors and suppliers who will assume the removal and capitalization of Abengoa debt. The companies up for sale should be transferred within a year. Most of them are projects which have had the “for sale” sign on them for a while, and their valuation has deteriorated. In 2019, the 10 main assets had a net book value of €1.557 Bn and a negative impact compared to 2018 of €118 M. This is in line with the restructuring agreement approved on August 6.

Abengoa AtlanticoYield

Clouds Over Abengoa’s Viability Will Be Cleared This Week

Abengoa’s risk profile was already very high but this has been aggravated to the point where there is no possibility of business continuity due to the situation resulting from the Covid-19. Abengoa and the banks are negotiating against the clock to find a solution that will allow the company to receive 300 million euros before July 31 and avoid bankruptcy proceedings.

Abengoa desalination plant

Abengoa will build the largest reverse osmosis desalination plant in the EAU

Abengoa will begin construction of an inverse osmosis desalination plant of 909,000 cubic metres per day in Taweelah (UAE), which will be the largest plant of this kind of technology in the world. The project is valued at more than $700 M (623 M€), of which $243 M (216 M€) corresponds to Abengoa over the next 3 years, according to the Sevilla-based firm´s communication to the regulator (CNMV).

Abengoa anticipates tripling its billing in 10 years

Abengoa Anticipates Tripling Turnover In 10 Years

Abengoa has presented its 10 year viability plan. The company anticipates to reach a turnover of 2.86 billion euros in 2023 and 4.202 billion euros in 2028. Moreover, its portfolio of  will increase from 1.75 billion euros in 2019 to 4.01 billion euros in 2028, thanks to identified projects, whose value rises to almost 30 billion euros.