Abengoa (MCE: ABG/P:SM), the company that applies innovative technology solutions for sustainability in the energy and environment sectors, has reached an agreement with the consortium formed by Macquarie Capital and Techint Engineering & Construction for the sale of the 907 MW combined cycle Norte III, in the state of Chihuahua (Mexico), signed with the Federal Electricty Commission (CFE) and retaining the same scope and price for the sale of the energy originally agreed upon.
Based on the new model set in Abengoa's viability plan, focused mainly in the execution of EPC projects, the company keeps the construction of the water treatment plant of the combined cycle.
This project's scope, under the Independent Power Producer (IPP) scheme, included the engineering, design and construction of the combined cycle plant, as well as its subsequent operation and maintenance for 25 years.
From now on, with the arrival of new resources, new owners will continue with the construction of the plant to achieve its culmination by 2019. Upon completion, Norte III plant, one of the largest combined cycles of the country, will produce enough power to supply more than 500,000 homes every year, providing an efficient response to growing electricity needs of the north of the country
The operation is part of Abengoa's divestment strategy and represents a further step in the company's viability plan being carried out. Over the past months, Abengoa has also announced the selling of: Bioenergy Europe, Bioenergy USA, the solar-thermal plant Ashalim in Israel, the desalination plant Qingdao in China or the subsidiary Abentel to Ericsson, among others.
Abengoa, with 36 years of history in Mexico, is leader in electrical infrastructures in the country. In the last 15 years, the company has completed several power generation projects including, among others, the conversion of El Sauz plant (414 MW) from simple cycle to combined cycle or the cogeneration plant Nuevo Pemex (300 MW) in Tabasco.
Abengoa (MCE: ABG/P:SM) applies innovative technology solutions for sustainability in the energy and environment sectors, generating electricity from renewable resources and producing drinking water from sea water. (www.abengoa.com)
Macquarie Group is a global provider of banking, financial, advisory, investment and funds management services. Macquarie's main business focus is making returns by providing a diversified range of services to clients. Founded in 1969, Macquarie operates in more than 70 office locations in 28 countries. Macquarie employs approximately 13,597 people and has assets under management of more than $367 billion (as of March 31, 2017).
About Techint Engineering & Construction
Techint Engineering & Construction provides project management, engineering, procurement and construction services on a global basis for large-scale projects in the Oil & Gas, Power, Mining, Infrastructure & Architecture civil works and Industrial Plants sectors. Our 17,000 professionals worldwide, backed by 70 years of experience, are committed to the development of timely and competitive solutions to complex project requirements, complying with the highest industry quality and safety standards, while protecting the environment and promoting the development of local communities.
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