ENERGY BUSINESS REVIEW - Spanish engineering group Abengoa has signed an agreement to sell 450MW renewable energy assets in Spain, to Abengoa Yield for approximately €614m.

The sale includes 100MW Helios 1 and 2, 150MW Solnova 1, 3 and 4, and a 70% stake in 100MW Helioenergy 1 & 2 solar complexes.

Abengoa Yield will also acquire a 51% stake in the 100MW Kaxu concentrated solar power (CSP) plant in Kalahari desert in South Africa.

With an estimated operational life of 22 years, the assets under transaction are expected to generate incremental annual run rate cash for distribution of approximately $63m. 

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