abengoa sa-unspon adr (ABGOY) Key Developments
Abengoa, S.A Wins Contract Valued at $13 Million for New Sanitation Works in Ciudad De La Costa
Aug 31 15
Abengoa, S. A won a contract valued at $13 million for new sanitation works in Ciudad de la Costa, Uruguay for the state-owned water utility OSE. The company will be responsible for construction, supply of materials and equipment and other services necessary for the construction of the sanitation system. The project also includes a 40.5-kilometer sewerage, including household connections and two pumping system Works under the project are expected to start in second quarter of 2015 and will be completed within two years.
Abengoa, S.A Wins Contract to Build New Port Terminal in Uruguay
Aug 24 15
Abengoa, S. A announced it won a contract worth at least $93 million to construct a new port terminal in Capurro, Montevideo in Uruguay. The company, as the 50% owner of the winning consortium, will be responsible for drawing up the final design and construction of approximately 1,000 meters of quays for industrial fishing vessels, along with the related protection, berthing and defense works. Engineering works are expected to begin in fourth quarter of 2015, with a deadline of nine months for the drafting and 30 months for the execution.
Bronstein, Gewirtz & Grossman, LLC Reminds Investors of Class Action against Abengoa SA
Aug 14 15
Bronstein, Gewirtz & Grossman, LLC reminded investors that a securities class action has been filed in the United States District Court for the Southern District of New York on behalf of those who purchased American Depositary shares of Abengoa SA. during the period between November 12, 2015 and August 2, 2015 inclusive. The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the company's business, operations, and prospects. On July 31, 2015, Abengoa revealed that it would decrease its free cash flow guidance, and prepare to divest itself of EUR 400 million in assets.
Abengoa Secures USD 17.3 Million Contract to Build 21.1 Km Transmission Network
Aug 11 15
Abengoa has been awarded a USD 17.3 million contract to build a 21.1 km transmission network in the northern Mexican state of Chihuahua by state utility CFE. Abengoa will engineer, design and build four 230kV lines, two 230kV substations and 10 high-voltage feeders. CFE is striving to expand Mexico's transmission infrastructure to achieve 100% connectivity by 2018. The utility announced this week that it has brought electric power to an additional 2.4 million people, and that 98.4% of the population has electric power.
Abengoa and Toshiba Corporation to Build the World's Large Biomass Combined Heat and Power Plant in the UK
Aug 10 15
Abengoa and Toshiba Corporation have been selected as preferred bidders to build the Tees Renewable Energy Plant. The project is owned by MGT Teesside, a subsidiary of MGT Power, a British company committed to developing utility scale biomass CHP projects. This will be the world's newly built large power and steam from biomass plant, and will be located in the Port of Teesside, Middlesbrough, United Kingdom. It will have a capacity of 299 MW of electricity and steam, both for self-sufficiency and to be exported to nearby industry and users. The engineering and construction contract will exceed €600 million. Abengoa will be responsible for carrying out the engineering, design and construction of the plant for the client MGT Teesside. This project will use wood pellets and chips from certified sustainable forestry resources from the United States and Europe as fuel, and will be audited to ensure compliance with the strict criteria established by the UK's incentives for renewable energy. The project will supply renewable energy for the equivalent of at least 600,000 households in the UK. During the construction phase, up to 1,100 jobs are expected to be created. With this plant, Abengoa will contribute to reduce the UK.'s carbon footprint and promote the country's energy transition to renewable and efficient energy sources. In addition, this base-load generation reliable thermal plant will help to ensure the supply of electricity to U.K. consumers, while reducing greenhouse gas emissions.