Canada’s Algonquin Power & Utilities, a growing player in the North American renewables market, has reportedly offered to buy Abengoa’s stake in Atlantica Yield, among the world’s leading owners of concentrated solar power (CSP) projects.

Algonquin is ready to pay around €700m ($817m) for Abengoa’s 41% stake in Atlantica Yield, higher than any other offers currently on the table, according to a press report that cites unnamed sources in Spain, where Abengoa is based.