Abengoa Creates U.S. Subsidiary to Consolidate American BusinessRandall Hackley
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.