Abengoa gets cash injection as it attempts to avert Spain’s largest bankruptcy

LAST UPDATED: 7 Jan, 2016 @ 05:52
0
SHARE

abengoa-solar-thermalGREEN energy giant Abengoa has secured a €106 million emergency loan as it tries to stave off Spain’s biggest ever bankruptcy.

The thermal solar power and electrical engineering firm announced that the loan from creditor banks will be used to pay salaries and maintain current operations.

The cash injection offers a temporary reprieve and comes after Abengoa was left crippled by its expansion into clean energy.

Its financial liabilities are thought to be around €25 billion.





Gib Rocks - the magazine for Gibraltar

Subscribe: Olive Press news to your inbox

BE THE FIRST TO COMMENT...

HAVE YOUR SAY...