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October

Abengoa refinances the Carhuamayo – Cajamarca transmission line in Peru

October 28, 2013

  • The refinancing will improve the maturities and the cost of the concession.

October 28, 2013.– 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 refinanced the 220kV Carhuamayo – Paragsha – Conococha –Kiman Ayllu – Cajamarca transmission line in northwest Peru by issuing $110 million in secured project bonds. This has improved the financing costs and extended the maturities of the project’s debt.

The project was awarded to Abengoa by the Peruvian state in 2008 under a concession agreement that includes operating the transmission line for a 30 year period. It was one of the first projects awarded under a concession format by the government of Peru using the Guaranteed Transmission System and is part of the action plan designed to strengthen and expand the National Interconnected Electricity System (SEIN). Furthermore, this line enables part of the region’s energy to be supplied in an efficient and sustainable way.

The bonds have been placed via three issues, of which the third has a maturity of 26 years and a 15 year grace period.

The Carhuamayo – Cajamarca 220 kV high voltage line is 572 km long and involves three new substations and enlarging the existing three.

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. Furthermore, it has participated in developing more than 3,500 km of electricity transport infrastructures in Peru.

About Abengoa

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.

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