Abengoa Expects Water to Generate 20% of U.S. Business in 2015

Abengoa SA (ABG), a Spanish clean-energy developer, expects water projects to generate 20 percent of its U.S. revenue within two years, up from a “very small” share now, according to Chief Executive Officer Manuel Sanchez Ortega.

The Seville-based company forecasts most of the growth to come from desalination, with the water-treatment business next-most important, he said today in an interview in New York.

The U.S. is Abengoa’s largest market, generating 1.03 billion euros ($1.4 billion) in revenue in the first half of the year, about 30 percent of total sales, according to an August presentation. It created a unit in January to oversee its U.S. operations.

“We have been working on a lot of new opportunities” in water, he said. “We have invested a lot in the technology.”

To contact the reporter on this story: Will Wade in New York at wwade4@bloomberg.net

To contact the editor responsible for this story: Randall Hackley at rhackley@bloomberg.net

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