Algonquin acquired an additional 16.47% stake in Atlantica Yield for $344m.

Algonquin, a renewable energy and regulated utility conglomerate, acquired an additional 16.47% stake in Atlantica Yield, a renewable energy company, for $344m from Abengoa. "This equity issuance supports Algonquin's measured international expansion strategy through an accretive incremental investment in Atlantica and largely addresses the common equity required for our 2018 capital investment plan," said Mr. Ian Robertson, Chief Executive Officer of Algonquin. "In addition to facilitating greater exposure to the attractive portfolio of Atlantica assets, we believe our equity issuance to an investor group led by one of the largest utility investors in the world represents a strong vote of confidence in APUC'S long-term strategy and growth prospects."