On 14 May 2014, Abengoa released its first quarter earnings report in which engineering and construction activity represented 66% of total quarterly revenue, €1,584 million. It has €779 million of water capex under construction and another €398 million of water capex pending.
The earnings report follows a pair of wastewater technology deals since February 2014. On 6 May 2014, Abengoa acquired a 25% stake in Greentech, a Chinese wastewater treatment and reuse company, preceded in April 2014 by a technology licensing agreement with American Water, a US independently owned utility. This agreement allows Abengoa to deploy American’s NPXpress wastewater treatment technology. The company also confirmed its produced water treatment pilot for shale gas operations.
Bluefield Takeaways
- Abengoa wastewater strategy tracks shifting global landscape
- Abengoa targets strategic positions in growth markets in face of stiff competition
- Large desalination ownership stakes are harder to come by for Spanish firms
