January 23, 2015 - Abengoa Yield (NASDAQ: ABY), the sustainable total return company that owns a diversified portfolio of contracted assets in the energy and environment sectors held today the grand opening of Mojave. The solar plant boasts a gross capacity of 280 MW and is located 90 miles northeast of Los Angeles, near Barstow, California.
Mojave Solar will provide clean energy able to serve approximately 91,000 households in California. The plant will prevent the emission of approximately 223,440 tons of CO2 into the atmosphere annually, reducing dependence on fossil fuel power plants. Mojave contributes to California’s goal of achieving 33 % of overall electricity production from renewable sources by 2020.
Mojave will supply clean electricity to Pacific Gas & Electric Company (“PG&E”) for the next 25 years thanks to the existing power purchase agreement.
The project has generated thousands of jobs, peaking at over 2,200 positions in the construction phase. Currently, it permanently employs about 70 people in operation and maintenance activities. Additionally, the direct and indirect job creation throughout its supply chain has been estimated at thousands of positions spanning throughout the US.
About Abengoa Yield
Abengoa Yield is a total return company that owns a diversified portfolio of contracted renewable energy, power generation and electric transmission assets in North America, South America and Europe. We focus on providing a predictable and growing quarterly dividend or yield to our shareholders (www.abengoayield.com).
EVP and Chief Financial Officer
Eduard Soler
E-mail: ir@abengoayield.com
Communication Department
Patricia Malo de Molina
Tel: +34 954 93 71 11
E-mail: communication@abengoa.com Investor relations
Leire Pérez
Tel: +34 954 93 71 11
E-mail: ir@abengoayield.com
December 2, 2014 – Abengoa Yield (NASDAQ: ABY), the sustainable total return company that owns a diversified portfolio of contracted assets in the energy and environment sectors, today announced that Mojave, the 280 MW gross solar plant located in California, has declared commercial operation on December 1.
Located 100 miles northeast of Los Angeles, Mojave generates clean electricity to power approximately 90,000 households in California, preventing the emission of 350,000 tons of CO2 annually. The project has generated thousands of jobs, peaking at over 2,200 positions during the construction phase. Additionally, thousands of direct and indirect jobs are estimated to be have been created through its supply chain spanning throughout the U.S. Mojave will supply clean electricity to Pacific Gas & Electric Company (PG&E) under a 25-year power purchase agreement.
Abengoa Yield also owns Solana, a solar plant located in Arizona, which has successfully completed its first year of commercial operation. With a six-hour thermal energy storage capacity, Solana supplies clean energy to Arizona Public Service (APS), Arizona’s largest utility, under a 30-year power purchase agreement.
About Abengoa Yield
Abengoa Yield is a total return company that owns a diversified portfolio of contracted renewable energy, power generation and electric transmission assets in North America, South America and Europe. We focus on providing a predictable and growing quarterly dividend or yield to our shareholders (www.abengoayield.com).
EVP and Chief Financial Officer
Eduard Soler
E-mail: ir@abengoayield.com
Investor relations
Leire Pérez
Tel: +34 954 93 71 11
E-mail: ir@abengoayield.com
Communication Department
Patricia Malo de Molina Meléndez.
Tel: +34 954 93 71 11
E-mail: communication@abengoa.com
December 21, 2012
Seville, December 21, 2012. Abengoa, the international company that applies innovative technology solutions for sustainable development in the energy and environment sectors, is helping to organize various activities to promote contact between teachers and students in the High Desert area, California (USA), and to improve young people’s education.
Abengoa is constructing the Mojave Solar Project, with a gross capacity of 280 megawatts, some 150 kilometers northeast of Los Angeles, close to Barstow, California. The plant will generate enough energy to supply the equivalent of more than 54,000 homes and will prevent the emission of more than 350,000 tons of CO2 into the atmosphere every year compared to a natural gas plant. It is expected to come into commercial operation in 2014.
Abengoa has been working with the local community in various activities since construction work began on the Mojave Solar Project, reflecting Abengoa’s commitment to promote initiatives that contribute to the growth and enrichment of the communities in which it is present.
Abengoa is a member and a sponsor of the Mojave Environment & Education Consortium (MEEC), which is taking the lead on these activities in the local community through the ‘Mojave Desert Air Quality Management District’ government agency.
The MEEC has developed a close relationship with the junior, middle and senior schools in High Desert in order to raise awareness of the importance of caring for the environment. The MEEC gives free training workshops and leadership conferences, generating numerous social benefits for the local community.
One of the most recent activities organized by the association was the ‘Youth Environment Leadership Conference’ at Granite Hills High School in Apple Valley, California, which was attended by 187 students. The students were split into small groups and given the opportunity to develop robotics systems with limited materials, demonstrating the importance of imagination in achieving the proposed objectives.
Once the conferences are completed, the schools that have participated in the different workshops will continue the environmental education in their classrooms and the results obtained are reported to the MEEC.
About Abengoa
Abengoa (MCE: ABG) is an international company that applies innovative technology solutions for sustainable development in the energy and environment sectors, generating electricity from the sun, producing biofuels, desalinating sea water and recycling industrial waste. (www.abengoa.com)
Communication Department:
Patricia Malo de Molina Meléndez.
Tel: +34 954 93 71 11
E-mail: ir@abengoa.com
Investor relations
Bárbara Zubiría Furest.
Tel: +34 954 937 111
E-mail: ir@abengoa.com
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September 14, 2011
Denver, Co.-September 14, 2011- Abengoa, the international company that applies innovative technology solutions for sustainable development in the energy and environment sectors, announced today that it has finalized a $1.2 billion loan guarantee with the Department of Energy to build the Mojave Solar Project. This concentrating solar power (CSP) plant will use advanced proprietary parabolic trough technology that will increase the plant’s efficiency and lower the total cost.
With a total investment of approximately $1.6 billion, the 280 MW Mojave Solar Project will create more than 900 construction and permanent operations jobs and over a thousand direct and indirect service and manufacturing jobs throughout the supply chain that will span the country. Construction has already begun and the Mojave Solar Project will come online in 2014.
The Mojave Solar Project demonstrates America's commitment to build an American-made solar industry which will provide energy independence, much-needed jobs, and economic development in the currently weak manufacturing sector.
The Department of Energy (DOE), through the Loan Programs Office, issued the loan guarantee to support this project. Abengoa signed a power purchase agreement with Pacific Gas & Electric (AMEX: PCG-PE), one of America’s largest electric utilities, to buy the energy produced by the Mojave Solar Project for a period of 25 years. The power purchase agreement is pending approval by the California CPUC.
The plant will be located 100 miles northeast of Los Angeles, near Barstow, California. The Mojave Solar Project will produce enough energy to serve more than 54,000 households and will prevent the emission of more than 350,000 metric tons of CO2 per year when compared to a natural gas burning power plant. The construction and operation of the Mojave Solar Project will bring many economic and environmental benefits to California and will support the state’s goals for clean energy.
California is meeting its renewable energy standards through various energy technologies and the addition of the CSP Mojave Solar Project will provide additional value to PG&E’s portfolio. By using concentrating solar technology, integration costs associated with other renewable energy resources will be avoided.
The plant’s construction and operation will produce much-needed tax revenue for the surrounding communities and the state of California. Abengoa estimates that the Mojave Solar Project will create more than 900 construction and permanent operations jobs. In addition, over a thousand direct and indirect jobs will be created and/or preserved through the service and manufacturing needs to construct the Mojave Solar Project. More than 80% of the equipment, supplies and services required to build the Mojave Solar Project will be of U.S. origin.
Abengoa’s supply chain, initiated by its other plant, Solana, now spans 22 states with 29 contracted suppliers. The need for key components and related services creates the foundation upon which to expand solar energy technology manufacturing capabilities to support current and future CSP projects in the U.S., as well as to export to other countries. Through this expansion, thousands of indirect jobs are created across the country and in states not normally associated with concentrating solar power, such as Kentucky, Illinois, Ohio, Minnesota, and Missouri.
Abengoa’s Solana, a 280 MW (gross) project already under construction outside of Phoenix, Arizona, will supply 70,000 Arizona households with clean energy, while employing between 1,600 and 1,700 people during its construction phase.
Abengoa is currently building 1,010 MW of solar plants all over the world and, with an additional 393 MW already operating, it is the only company in the world building and operating both trough and power tower CSP plants. The Mojave Solar Project plant will be Abengoa’s 16th CSP plant.
About Abengoa
Abengoa (MCE: ABG) is an international company that applies innovative technology solutions for sustainable development in the energy and environment sectors, generating electricity from the sun, producing biofuels, desalinating sea water and recycling industrial waste. (www.abengoa.com)
Communications Department contact
Patricia Malo de Molina Meléndez.
Loreto González Goizueta.
Tel: +34 954 93 71 11
E-mail: comunicacion@abengoa.com
Investor Relations contact
Bárbara Zubiría Furest.
Tel: +34 954 937 111
E-mail: ir@abengoa.com
June 14, 2011
Washington D.C.- June 14, 2011.- Abengoa, the international company that develops innovative technology solutions for sustainable development in the energy and environment sectors, has been offered a conditional commitment for a federal loan guarantee that will be used to build the Mojave Solar Project (MSP).
Department of Energy Secretary Steven Chu announced today that the DOE has offered a conditional commitment for a $1.2 billion loan guarantee. The guarantee will support the construction and start-up of the Mojave Solar Project, a 280 gross megawatt (MW) concentrating solar power (CSP) plant in California, about 100 miles northeast of Los Angeles. MSP will sell its production to Pacific Gas & Electric and will produce enough energy to serve 53,000 households and will prevent 350,000 metric tons of carbon dioxide emissions from being released into the atmosphere annually.
The construction and operation of Mojave will represent a total investment of 1.6 billion dollars and will bring many economic and environmental benefits to California, while supporting the nation’s goals for energy independence through a “green” economy. The plant will create as well significant tax income for local communities and the state over the life of the project.
The building of MSP will create new construction jobs peaking at about 1200, while averaging around 830, and another 70 permanent operation positions. Many indirect jobs will also be generated, including the numerous manufacturing jobs in the supply chain.
Abengoa has made it a priority to utilize U.S.-made components wherever possible for the Mojave Solar Project. More than 80% of the equipment and supplies required to build MSP will be manufactured in the U.S. These include power equipment, high precision mirrors and other construction materials. The manufacturing of these key components in many states across the country will provide economic benefits and will help to secure and create jobs.
Abengoa plans to start construction of Mojave Solar Project in August and expects that the plant will start producing power in the summer of 2014. Abengoa signed a power purchase agreement with PG&E, one of the country’s largest electric utilities, to sell the energy produced by MSP for its 25-year contract period.
From an environmental perspective, MSP will provide Californians with clean, pollution and greenhouse gas-free energy that will reduce California's need for fossil fuel based generation facilities, preventing nearly 350,000 metric tons of carbon dioxide emissions per year. This is the equivalent to the emissions of 68,000 vehicles on the road. The Mojave Solar Project will contribute to California’s state goal that by 2020, 33% of energy retail sales are sourced from renewable energy.
Abengoa is currently building 930 MW of solar plants worldwide, and with an additional 193 MW already operating, it is the only company worldwide building and operating both trough and power tower CSP plants. In the United States Abengoa is building Solana, a 280 MW CSP plant in Arizona.
About Abengoa
Abengoa (MCE: ABG) is an international company that applies innovative technology solutions to sustainable development in the energy and environment sectors, generating electricity from the sun, producing biofuels, desalinating sea water and recycling industrial waste. (www.abengoa.com)
For additional information, please contact:
Communications Department contact
Patricia Malo de Molina Meléndez.
Loreto González Goizueta.
Tel. +34 954 93 71 11
E-mail: communication@abengoa.com
Investor Relations Department contact
Bárbara Zubiría Furest.
Tel. +34 954 937 111
E-mail: ir@abengoa.com
October 27, 2009
San Francisco, CA, October 27, 2009 - Abengoa Solar announces the signing of a power purchase agreement with Pacific Gas & Electric (PG&E) to supply the electricity generated by the new solar plant "Mojave Solar." The project will generate 250 megawatts (MW) of Concentrating Solar Power (CSP) and is to be located in an unincorporated area of San Bernardino County, between Barstow and Kramer Junction, approximately nine miles northwest of Hinkley, and 100 miles northeast of Los Angeles. The project is expected to bring 1,200 green construction jobs and, when completed, approximately 80 permanent jobs to this desert area.
Once it starts operating in 2013, it will generate nearly as much electricity as all of California's present-day commercial CSP installations combined, enough to power about 90,000 average homes, and avoid over 431 kilotons per year of greenhouse gas emissions.
On August 10, 2009, Abengoa Solar filed an Application for Certification with the California Energy Commission for its Mojave Solar Project. The project has been deemed data adequate by the CEC and public meetings are anticipated to begin in December.
Santiago Seage, CEO of Abengoa Solar explained that "Mojave Solar is a project we have been working on for several years. The permitting and engineering effort is very advanced and we are very proud to partner with PG&E to make this project a reality."
The project will be sited on 1,765 acres of private, previously disturbed land that had been farmed since the 1920s but is now largely fallow.
The solar plant will use significantly less water per acre than was used for agricultural purposes.
"The location has been carefully chosen and the plant has been specifically configured to minimize environmental impacts on the desert," said Scott Frier, COO of Abengoa Solar, Inc.
The spinoff economic benefits, including jobs created, are expected to be significant near an area that was farmed for alfalfa from the 1920s but was later largely abandoned.
Mojave Solar Project will contribute to meeting California's aggressive Renewable Portfolio Standard, which calls for moving away from fossil fuels to solar energy and other renewable energy sources that avoid pollution and greenhouse gas emissions.
We expect to start construction by the end of 2010, subject to financing under the U.S. economic stimulus legislation.
The Mojave Solar Project will use a similar size and type of Abengoa Solar parabolic trough technology as the system that will be installed at the Solana Electrical Generating Station announced in 2008 near Phoenix, Arizona. This is a highly innovative system that maximizes power production in trough plants.
The plant uses parabolic mirrors that are arranged in long troughs and track the sun's movement continually during the day, concentrating the solar radiation onto a heat-absorbing pipe at the focal point of the mirrors. A heat transfer fluid circulating inside the pipe reaches temperatures of more than 700 degrees Fahrenheit. This heat is then used to generate steam that drives a conventional steam turbine.
In addition to the Mojave Solar Project in California and the Solana Project in Arizona, Abengoa Solar has seven CSP plants under construction or operation and others under development. In August 2009, Abengoa Solar announced that it was selected by Xcel Energy, Colorado's largest electric utility company, to build a demonstration parabolic trough concentrating solar power plant at Xcel Energy's Cameo coal plant near Grand Junction, Colorado. Abengoa Solar has also used recently parabolic trough technology to make industrial process heat for a major food processor to cook snacks in Modesto, CA and for the U.S. Department of Energy to treat contaminated groundwater in Tuba City, AZ.
For interviews and more information about Abengoa Solar's Mojave Solar Project in California, please contact Allison Lenthall, allison@renewcomm.com, 202-558-7739.
About Abengoa Solar
Abengoa Solar focuses on developing and applying innovative solutions to generate power and energy from the sun. Abengoa Solar's U.S. headquarters in Lakewood, CO, comprises 50,000 square feet of office and manufacturing space where more than 80 people are employed in engineering, research and development, manufacturing, project development, and support. In addition, Abengoa Solar has U.S. offices in Arizona and California. (www.abengoasolar.com)
About Abengoa
Abengoa is a technology company that applies innovative solutions for sustainability in the infrastructure, environmental and energy sectors. The company is listed on the Spanish Stock Exchange and operates in more than 70 countries, through five business units: Solar, Bioenergy, Environmental Services, Information Technologies, and Industrial Engineering and Construction. (www.abengoa.com)