Banco Santander Takes $125M Stake In Ariz. Solar Plant

Law360, New York (April 20, 2012, 5:06 PM EDT) -- Spanish energy developer Abengoa SA has wrangled $125 million from a Banco Santander SA unit in exchange for an equity stake in a $2 billion Arizona project that aims to be the world’s largest concentrated solar-thermal power plant, the company said Friday.

Banco Santander subsidiary Capital Riesgo Global will partner with Abengoa on the 280-megawatt Solana project, which also has the goal of becoming the first U.S. solar plant with the capability to store energy. The deal is expected to help the project progress. It secured...
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