The companies aim to sign a binding deal by the end of January.
EIG, based in Washington DC, will take a majority stake in a portfolio of Abengoa projects that need more than $9.5bn in financing. The portfolio will include assets and transmission lines in the US, Mexico, Brazil and Chile.
Abengoa, which has struggled with high debt, has been looking for a way to shore up its finances after the recent severe drop in its stock price, and has been reorganising itself.
