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Abengoa Creates U.S. Subsidiary to Consolidate American Business

Jan. 4 (Bloomberg) -- Abengoa SA, a solar-thermal power and water desalination plant developer, said it’s created a subsidiary to oversee its businesses in the U.S., which contribute about 20 percent of the company’s revenue.

The largest developer of solar-thermal power plants said the American subsidiary, Abengoa US, has at least $5.8 billion in assets and coordinates operations in 12 states from offices in Washington D.C., St. Louis and Denver.

The Seville, Spain-based company’s solar-thermal systems typically use mirrors to focus sunlight on a boiler, generating steam used to produce electricity. Its project involvement in the U.S. includes Solana, the largest solar plant using parabolic-trough solar-thermal technology in the Arizona desert.

Abengoa broke ground about six weeks ago on West Africa’s first desalination facility, a venture to provide drinking water for about 500,000 people in Ghana. It also produces biofuels.

Link to Company News:{ABG SM <Equity> CN <GO>}

To contact the reporter on this story: Randall Hackley in London at rhackley@bloomberg.net

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

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