A consortium comprising Belgium's Alcogroup SA, Vanden Avenne Commodities and Vandema has agreed to buy the Rotterdam assets of troubled Spanish engineering and renewables group Abengoa SA (BME:ABG).

Pending the respective regulatory approvals, this strategic acquisition will be be finalised in the coming weeks, Alcogroup said on its website.

The Rotterdam plant is one of the largest European biorefineries with an annual production capacity of 480 million litres ethanol for fuel use, 360,000 tonnes of dried distilled grain with solubles (DDGS) - high protein feed products, as well as 400,000 MWh of electricity.

Alcogroup and its partners plan to restart the facility, which was shut down in April, by the end of this year. They are also committed to perform the necessary investments in order to further improve the intrinsic qualities of the plant.

As part of its divestment programme to offload non-strategic assets, Abengoa has also announced the sale of the Campo Palomas wind farm in Uruguay and its stake in the Shams-1 solar power plant in the United Arab Emirates, among other assets.


Source: http://renewables.seenews.com/news/abengoa-finds-buyers-for-rotterdam-plant-529949