Spanish Renewable Energy Firm Files for Insolvency
- Abengoa had 7.9 billion euros in liabilities as of March
- Company restructured 9 billion euros of debt in 2016
Abengoa’s thermal solar plant near Seville.
Photographer: Markel Redondo/Bloomberg
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Renewable energy group Abengoa SA filed for insolvency late on Monday, after its latest attempt to restructure its debts fell apart.
The parent company of the renewable-energy producer, which is the entity that filed for insolvency, had around 1 billion euros ($1.22 billion) of liabilities in 2019. The group as a whole had 7.9 billion euros in liabilities as of March 31, according to its latest earnings statement.