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August

Abengoa gets a favorable award of an arbitration proceedings in Kenya

August 28, 2019

  • The award has an impact in the Group’s consolidated which is positive in terms of Ebitda for an approximate amount of 14M euros.

August 28th, 2019 – Abengoa (the “Company”) (MCE: ABG/P:SM), the international company that applies innovative technology solutions for sustainability in the infrastructures, energy and water sectors informs that on 27 August 2019 it has been notified of the award issued in connection with the arbitration proceedings  initiated by its subsidiary Instalaciones Inabensa, S.A. Against Ketraco (Kenya Electricity Transmission Company Limited) in Kenya under the Uncitral regulations (United Nations Comission on International Trade Law, Arbitration Rules 2010) before the IEK (Institution of Engineers of Kenya) regarding the interconnection project Kenya-Uganda (Part A of the Lines and Part B of the Substation).

Such award, that has been issued in favor of Instalaciones Inabensa, S.A., recognizes in its favor an amount of 37,365,691.16 Euros (30,887,820.39 Euros of principal plus 6,477,870.77 Euros of interests) plus 102,165,144.20 Kshs (873,824 Euros at current change rate) of costs, which means a total amount of approximately 38,239,515.20 Euros.

 Although the award is final and binding on the parties in accordance with the rules of the procedure, appeals could be filed before local courts (Kenia) based only on certain formal or public order reasons that do not affect the matter under discussion.

About Abengoa

Abengoa (MCE: ABG/P:SM) applies innovative technology solutions for sustainability in the infrastructures, energy and water sectors. (www.abengoa.com)

Communication Department:

Marián Ariza

Tel: +34 954 93 71 11

E-mail: comunicacion@abengoa.com

Investor Relations & Capital Markets:

Gonzalo Zubiría

Tel: +34 954 93 71 11

E-mail: ir@abengoa.com

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