Abengoa has been awarded the construction of four distribution projects by the Federal Electricity Commission (CFE) in Mexico
The state-owned electric company CFE has relied on Abengoa once again for several projects in a sector in which the company has more than 25 years of experience.
These are the first contracts signed since the restructure of its debt in 2020, which represents a new milestone for Abengoa in the country.
Abengoa Mexico advances in the development of its viability plan
The company has received a favorable verdict to several appeals that will allow the beginning to new proceedings in order to ensure liquidity.
Abengoa Mexico restructures its debt after the successful amendment of its bankruptcy agreement
The company and the majority of its creditors achieved an agreement for its restructuring in 2019.
The Sixth District Court in Civil Matters of Mexico City has given court approval for this new agreement, which is based on a business plan that provides the company a new beginning in Mexico.
Abengoa receives the provisional acceptance certificate of a transmission project in Mexico
The project included the construction of four transmission lines and two substations, amounting to 17.3 M$ (15.5 M€).
The transmission line will evacuate the energy produced by the combined cycle Norte III.
Abengoa Mexico comes out of its insolvency process
The company has received court approval for its insolvency process, in which it was immersed since December 2016.
The Court approves such a ruling after more than 95 % of the company’s stakeholders supported the Insolvency Agreement which was put forward by Abengoa.