Abengoa to acquire 25% of Chinese water company GreenTech
Published on by Water Network Research, Official research team of The Water Network in Business
the company that applies innovative technology solutions for sustainability in the energy and environment sectors, has acquired 25% of the Beijing-based water company, GreenTech.
The deal is currently under the standard review process by the Chinese Government and is expected to be approved in the second quarter of the year.
The company was established in 2004 and is a leader in the Chinese wastewater treatment and reuse market. Its current clients range from the municipal sector to the industrial sector, and the company has over 40 references in water treatment with a combined capacity of 2.1 million cubic meters (m3) per day.
Abengoa considers China to be a key market in its long-term strategy and was responsible for the design, construction, and finance of the first desalination plant in China contracted under a public-private partnership model. The reverse osmosis sea water desalination plant is located in Qingdao, and is currently under contract to be sold to Abengoa's local partner, Qingdao Water Group.
Through the investment in GreenTech, Abengoa will consolidate and expand its presence in China and reinforce its position in the global water treatment market. Additionally, Abengoa continues to consolidate its global leadership in the water sector through activities developed in the USA, Latin America, the United Arab Emirates, Algeria, Ghana, China, India, and Spain.
About Abengoa
Abengoa (MCE: ABG.B/P SM /NASDAQ: ABGB) applies innovative technology solutions for sustainability in the energy and environment sectors, generating electricity from renewable resources, converting biomass into biofuels and producing drinking water from sea water.
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