Algonquin Power & Utilities Corp. says it is partnering with Spain-based Abengoa, S.A. on a new joint venture focused on global clean energy and water projects. The company says it will also buy a 25 per cent interest in Atlantica Yield plc from Abengoa for about US$608 million to expand its international project portfolio. Algonquin says the Atlantica deal will give it cash flow from the company’s long-term contracted clean energy and water infrastructure assets. It says the Abengoa partnership offers near-term development opportunities representing some US$300 million in investment opportunities. The company says Atlantica owns and operates 21 facilities including clean power generation, electricity transmission lines and desalination plants.

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