Spanish renewable energy firm Abengoa S.A., commenced sale of its 70mw Campo Palomas wind energy farm in Uruguay to Invenergy Wind LLC for a total consideration price of $37.5m which it would utilize to pay off debt on the plant. The company had outlined this plant as part of its planned divestitures.
Abengoa would continue constructing the $49m plant which was awarded by state-owned firm Electric Power Plants & Transmissions (UTE). Commercial operations at the plant would commence by February 2017.
Invenergy secured financing from Inter-American Investment Corp. DNB served as mandated lead arranger and a participant in the B-loan. Voltiq advised the company on the debt transaction.