Abengoa (MCE: ABG.B/P SM /NASDAQ: ABGB), the international company that applies innovative technology solutions for sustainability in the energy and environment sectors, has closed the financing the 600kV Porto Velho–Araraquara 2 transmission line, which will connect the states of Rondônia and São Paulo in Brazil, by issuing US$ 89 million (BRL 200 million) in bonds maturing in 2026.
This transaction means that Abengoa has now completed the necessary financing for investment in this electricity transmission project, in which the Brazilian Development Bank (BNDES) is a creditor with more than US$ 445 million (BRL 1,050 million). Abengoa is also entering the Brazilian market for secured project bonds, increasing the funds available for investment in infrastructure projects in this country.
The 600 kV Porto Velho–Araraquara 2 electricity transmission line is 2,375 kilometers long and will connect the states of Rondônia and São Paulo. The line forms part of the Madeira system, which with nearly 5,000 km (2,345 km each line), will be the largest continuous current energy transmission system in the world.
This new initiative will consolidate Abengoa’s leadership position in this sector in Latin America, where it has more than 20,000 km of these types of transmission projects. In Brazil alone the company is involved in developing nearly 10,000 km of electricity transport infrastructures.
Abengoa (MCE: ABG.B/P SM /NASDAQ: ABGB) applies innovative technology solutions for sustainability in the energy and environment sectors, generating electricity from renewable resources, converting biomass into biofuels and producing drinking water from sea water. (www.abengoa.com)
Patricia Malo de Molina Meléndez.
Tel: +34 954 93 71 11
Irene Sánchez Aizpurúa.
Tel: +34 954 937 111