AquaVenture poised to acquire Abengoa's Accra desalination plant

AquaVenture is to acquire Abengoa's 56 per cent stake in Teshie-Nungua desalination plant near Accra, Ghana, subject to renegotiation of the water purchase agreement with Ghana Water Company Limited (GWCL), or receipt of certain agreements from the plant's lenders.

Teshie-Nungua desalination plant near Accra, Ghana was closed in January owing to financial challenges

Teshie-Nungua desalination plant near Accra, Ghana was closed in January owing to financial challenges

New York Stock Exchange-listed AquaVenture will pay $26 million to acquire Befesa Desalination Development Group (BDDG), the Abengoa subsidiary that owns the plant. The deal is expected to complete in Q2 2018.

The 60,000 m3/d facility was shut down on 1 January 2018, after reports emerged that GWCL was struggling to keep up with payments under the water purchase agreement. Abengoa confirmed that it was in talks aimed at re-opening the plant in February.

The project to build, own and operate the plant for 25 years was originally awarded to BDDG in 2011.

Interview: Doug Brown, AquaVenture chief executive (December 2016)


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