Mainstream banks help Abengoa Yield up credit facility to US$290 million

July 21, 2015
Facebook
Twitter
LinkedIn
Reddit
Email

Major names including Bank of America, Citigroup, Barclays and UBS have aided Abengoa Yield to more than double its credit facility from US$125 million to US$290 million.

Abengoa Yield, the yieldco established by Spanish sustainability and renewable energy company Abengoa, announced yesterday that it has increased its credit facility using a Tranche B revolver arrangement.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

In the past few weeks, regular readers of PV Tech would have noticed the increasingly prominent role yieldcos are playing in solar financing, with SunEdison’s TerraForm yieldco on a seemingly never-ending path of acquisitions. Just this week SunEdison and TerraForm said they would buy one of North America’s biggest installers, Vivint Solar, for US$2.2 billion, following the previous week, when it emerged that TerraForm is also likely to be the first yieldco to invest in energy storage.

A report on Q2 funding activity in the solar industry from Mercom Capital Group showed public market financing of solar was up US$1 billion quarter on quarter, driven largely by activity in the yieldco segment. Abengoa Yield saw its first quarter profits this year double from the same period of 2014 and acquired a further 450MW of assets from Abengoa in May.

Abengoa Yield contains renewable energy assets alongside conventional power generation, electric transmission and water contracts, although the vast majority of its interests are solar plants, six out of eight of which are in Abengoa’s home country.

The latest funding round saw Bank of America act as joint bookrunner and global coordinator, bank HSBC acted as joint bookrunner and agent, while the other joint bookrunners were UBS, RBC, Barclays, Citigroup and Banco Santander. Abengoa Yield said the funds raised will be used to “finance future acquisitions and for general corporate purposes”.

Last week, Abengoa reduced its stake in the yieldco to 49.05%, selling 2,000,000 shares. This appears to contradict reports in May in which the company reportedly said it would not reduce its share of Abengoa Yield beyond 51%.

Read Next

October 23, 2025
Infrastructure investment firm Nuveen Infrastructure has secured US$171 million in financing for a 137MW solar PV plant in South Korea.
October 23, 2025
US solar manufacturer T1 Energy sold approximately 725MW of solar modules in Q3 2025, as it continues to expand US manufacturing capabilities.
Sponsored
October 23, 2025
Tongwei's rooftop-focused TNC 2.0 G12R-48 module will be among the products on show at All Energy Australia next week.
October 23, 2025
Solar PV technology has maintained its leading position as the most cost-competitive power generation source in 2025, according to analyst Wood Mackenzie.
October 23, 2025
Aviva Investors and Astatine have announced an €800 million (US$928 million) investment in renewable energy and decarbonisation solutions.
October 23, 2025
Spanish power electronics specialist Ingeteam has won a contract to supply inverters and control systems for European Energy Australia's 100MW Winton North solar-plus-storage project in northeast Victoria.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany