MADRID: Abengoa Spanish Multinational Corporation jumped the most in seven weeks after the Spain’s renewable energy company said it plans a joint venture with EIG Global Energy Partners Limited Liability Company to invest in projects under construction.
Abengoa’s Class B shares climbed 16 per cent to 2.19 euros in Madrid. The Seville based company’s 5.5 per cent bonds issued through its Greenfield finance unit rose 1.5 cents on the euro to 86.5 cents, the highest in more than a month.
Further the companies plan to invest more than $9.5 billion in equity and non recourse debt in a portfolio of power projects. Those will include renewable energy installations and transmission lines, some of which are in North and South America. EIG, a Washington based investment firm, will hold a majority stake in the new company.
