Abengoa has signed an agreement to sell the Rotterdam Plant assets to Alcogroup, Vanden Avenne Commodities and Vandema.
The Rotterdam plant has an annual production capacity of 480 million litres ethanol, 360,000 tonnes of DDGS (Dried Distilled Grain with Solubles), 48 MW of electricity.
The plant was closed last April. According to sources, Alcogroup's objective is to re-start the facility by the end of the year. It is expected that the strategic acquisition will be finalized in the coming weeks upon regulatory approvals.
In April, we reported that Abengoa, as part of its divestment process associated to its bankruptcy, sold to Vela Energy four photovoltaic plants located located in the provinces of Seville and Jaen. The agreement, implies a debt reduction of US$71 million and a net cash inflow of US$17,2 million.