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Abengoa Yield's Projects at Risk of Default If Abengoa SA Does

  • Assets `not potential collateral of any obligation at Abengoa'
  • Abengoa Yield seeking waivers to remove cross-default clauses
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Abengoa Yield Plc’s Mojave and Solana solar farms in the U.S. Southwest are both producing electricity and generating revenue to pay the debt incurred building them. Yet they’re still at risk of default, along with three other solar and wind farms owned by the company.

The reasons can be found in the loan terms, and in Spain, where Abengoa Yield’s parent company, the troubled Spanish renewable energy developer Abengoa SA, is seeking protection from creditors.