South Africa: Engie takes 50% in 100MW Xina Solar One CSP


Issue 434 - 11 Mar 2021 | 1 minute read

Engie announced on 1 March it has acquired a 50% stake in the 100MW Xina One concentrated solar power (CSP) plant in the Northern Cape from Abengoa, which filed for insolvency in Spain on 22 February after failing to restructure debt worth around €6bn ($7.3bn); the company only narrowly avoided bankruptcy in 2016 when it refinanced €9bn of debt. Engie also acquired 46% of operations and maintenance company Xina CSP Operations.

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