The wind turbines are part of the Gorona del Viento complexTHE largest renewable energy company in Spain is on the brink of becoming the largest company in the country to ever file for bankruptcy.

Sevilla-based energy giant Abengoa has initiated insolvency proceedings after failing to close a deal with a major new investor.

In November, Gonvarri pulled out of a €350 million investment plan with the company, sending Abengoa’s stocks plunging by more than 50%.

The firm has just four months to find a buyer or it will be declared bankrupt.

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