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.
