International company Abengoa has announced the creation of a new American subsidiary, Abengoa, US, which will be responsible for all its business in the country. The formation of the new subsidiary supports the company’s strong commitment to the U.S. market.
According to the company, Abengoa US has assets in excess of $5.8 billion, more than $1.7 billion in shareholders’ equity, and its revenues account for approximately 20 percent of the company’s total sales. Today, U.S. projects are coordinated from three offices located in Washington D.C., St. Louis and Denver with R&D+i centers in Denver and St. Louis. In addition, the company has projects completed or underway in 12 sates.
Currently,, Abengoa US is engaged in various landmark projects in the country, including Solana, the world’s largest solar plant using parabolic-trough solar-thermal technology based in the Arizona desert, which has up to six hours of electricity storage, and one of the first commercial second-generation bioethanol plants located in Hugoton, Kansas, which will come into operation at the end of this year.