Abengoa Yield IPO raises $720m

Spanish renewables group Abengoa today lists its Abengoa Yield offshoot on Nasdaq in New York after raising about $720m through an IPO.

Abengoa Yield is the latest of the so-called “yieldcos” to float, joining previous spin-offs from the likes of NRG Energy.

The Spanish group said it expected to raise about $600m when the IPO plan was announced.

Abengoa Yield will own, manage and acquire renewable and other energy projects, with an initial focus on the Americas and Europe.