Atlantica (company)

Last updated
Atlantica Sustainable Infrastructure
Company type Private
Nasdaq: AY
Industry
Founded2013;12 years ago (2013)
Headquarters
London
,
United Kingdom
Key people
  • Santiago Seage (CEO)
  • Francisco Martinez-Davis (CFO)
Revenue US$1.1 billion (2023)
Number of employees
1,400 (2023)
Website www.atlantica.com
Footnotes /references
[1] [2]

Atlantica Sustainable Infrastructure is a UK-based sustainable infrastructure company headquartered in London. The company operates a diverse portfolio of assets, including renewable energy, efficient natural gas and electric transmission lines across several countries. [3] [4]

Contents

History

Atlantica was founded in 2013, established to manage a portfolio of long-term contracted energy and environmental infrastructure assets. The company went public on the NASDAQ in 2014, initially focusing on solar power plants, transmission lines, and water assets. [5] [6] [7] Santiago Seage has served as Atlantica's CEO since its founding in 2013, with a brief departure in 2015. [8]

In 2020, the company rebranded as Atlantica Sustainable Infrastructure to reflect its growing focus on renewable energy and sustainability. [9]

In 2021, Atlantica further diversified its portfolio by acquiring the Coso Geothermal Plant in California, which provides base-load renewable energy. [10] [11] In the same year, Atlantica purchased a 49% stake in a wind portfolio with a total capacity of 596 MW for $196.5 million. Known as Vento II, the portfolio includes four wind assets located across Illinois, Texas, Oregon, and Minnesota. [12]

By the end of 2023, Atlantica's renewable energy portfolio comprised 2,171 MW in operation. [13] In 2024, the company expanded its portfolio further by acquiring two wind assets in Scotland, adding a combined capacity of 32 MW to its operations. [14]

In December 2024, Atlantica was acquired by Energy Capital Partners and a group of co-investors, leading to its delisting from the NASDAQ. [15] [16]

Operations

As of 2024, Atlantica manages assets with a total installed capacity of 2.2 gigawatts (GW) of renewable energy, including solar, wind, and geothermal power plants. [8] [17] The company's portfolio spans several regions: in North America, Atlantica operates the Solana and Mojave solar power plants and holds a 49% stake in a 596 MW wind energy portfolio. [18] [19] In Europe, Atlantica operates renewable energy projects, particularly in Spain. [20] [21] In South America, Atlantica owns several wind farms in Uruguay. [22]

Acquisition

In 2024, Energy Capital Partners (ECP), a U.S.-based private investor in energy transition together with a group of co-investors, announced its plan to acquire Atlantica for $2.555 billion, with a purchase price of $22 per share. [23] [24] [25]

In August 2024, Atlantica’s shareholders approved the acquisition, with 97% voting in favor at the general meeting. [26] The acquisition is expected to be completed in the fourth quarter of 2024 or early 2025. [27] [28]

In December 2024, Atlantica Sustainable Infrastructure completed its acquisition by California Buyer Limited, a subsidiary of Energy Capital Partners and co-investors, through a scheme of arrangement under English law. Following the transaction, Atlantica's ordinary shares were delisted from the Nasdaq Global Select Market. [29] [30]

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References

  1. ↑ "Un grupo de inversores liderado por Energy Capital Partners acuerda adquirir Atlantica por 2.400 millones". Europa Press .
  2. ↑ "Atlantica Sustainable Infrastructure plc (AY)". Yahoo Finance .
  3. ↑ Bhattacharjee, Ananya (2023-05-04). "Akuo and Atlantica to Construct Nine Solar Farms in Chile to Accelerate Energy Transition". SolarQuarter. Retrieved 2024-12-04.
  4. ↑ chiva27 (2024-07-04). "Andalucía apuesta por el impulso de "una política industrial ambiciosa y útil" en el marco de la transición energética y digital". executive-forum (in Spanish). Retrieved 2024-12-04.{{cite web}}: CS1 maint: numeric names: authors list (link)
  5. ↑ "Atlantica Sustainable Infrastructure PLC - Company Profile and News". Bloomberg.com. Retrieved 2024-12-04.
  6. ↑ "Solar energy spinoff Abengoa Yield files for a $600 million IPO". 2014-04-01.
  7. ↑ Agencias (2018-11-22). "Abengoa cierra la venta de Atlantica Yield valorada en 700 millones". Cinco Días (in Spanish). Retrieved 2024-12-04.
  8. 1 2 FORBES (2023-01-23). "Hombre del día: Santiago Seage, CEO y director general de Atlantica Sustainable Infrastructure". Forbes España (in Spanish). Retrieved 2024-12-04.
  9. ↑ MarketScreener (2020-05-05). "Atlantica Yield plc has Changed its Name to Atlantica Sustainable Infrastructure Plc - MarketScreener". uk.marketscreener.com. Retrieved 2024-12-04.
  10. ↑ 20minutos (2021-08-04). "Atlantica factura 513 millones de euros hasta junio, un 31% más". www.20minutos.es - Últimas Noticias (in Spanish). Retrieved 2024-12-04.{{cite web}}: CS1 maint: numeric names: authors list (link)
  11. ↑ Agencias (2024-03-02). "Atlantica gana 40 millones en 2023 y eleva su Ebitda hasta los 734 millones". elconfidencial.com (in Spanish). Retrieved 2024-12-04.
  12. ↑ Chong, Florence; staff2021-04-09T11:12:00+01:00, I. P. E. "Atlantica buys OMERS Infrastructure's stake in 596MW US wind portfolio". Real Assets. Retrieved 2024-12-04.{{cite web}}: CS1 maint: numeric names: authors list (link)
  13. ↑ "Atlantica Sustainable Infrastructure PLC, AY:NSQ profile - FT.com". markets.ft.com. Retrieved 2024-12-04.
  14. ↑ Markosyan, Martina (2024-03-25). "Atlantica snaps up 32 MW of wind assets in Scotland | Renewable Energy News | Renewables Now". renewablesnow.com. Retrieved 2024-12-04.
  15. ↑ "Atlantia set to be delisted as buyout bid reaches 90% threshold". Reuters. Archived from the original on 2023-11-13. Retrieved 2025-01-27.
  16. ↑ https://atlantica.com/wp-content/uploads/documents/0001140361-24-049098.pdf
  17. ↑ "Atlantica creix al 7%, amb uns ingressos de 919 milions de dòlars". ElNacional.cat (in Catalan). 2024-11-18. Retrieved 2024-12-04.
  18. ↑ Mesones, Javier; Esteller, Rubén. "Atlantica compra la filial de Abengoa en Mojave y Solana".
  19. ↑ "Atlantica Yield buys Abengoa's subsidiary in Mojave and Solana concencentrated solar power plants | REVE News of the wind sector in Spain and in the world". 2019-08-13. Retrieved 2024-12-04.
  20. ↑ "ECP Is in Advanced Talks to Acquire Atlantica Sustainable". Bloomberg.com. 2024-05-02. Retrieved 2024-12-04.
  21. ↑ Shumkov, Ivan Tsvetanov (2020-08-03). "Atlantica closes green notes offering and unveils EUR-326m solar refinancing | Solar Power News | Renewables Now". renewablesnow.com. Retrieved 2024-12-04.
  22. ↑ Mesones, Javier; Esteller, Rubén (14 December 2018). "Atlantica Yield crece en eólica con dos plantas en Uruguay y Estados Unidos".
  23. ↑ "Energy Capital Partners to acquire Atlantica for $2.56 bln". Reuters . 2024-05-28. Retrieved 2024-12-04.
  24. ↑ "ECP to Buy Atlantica Sustainable for $22 Per Share in Cash". Bloomberg.com. 2024-05-28. Retrieved 2024-12-04.
  25. ↑ Levingston, Ivan (2024-06-27). "How has private equity shaped the UK economy?". Financial Times. Retrieved 2024-12-04.
  26. ↑ Markosyan, Martina (2024-08-09). "Atlantica obtains shareholder nod for USD-2.55bn go-private deal | Energy Storage News | Renewables Now". renewablesnow.com. Retrieved 2024-12-04.
  27. ↑ "ECP to Buy Atlantica Sustainable for $22 Per Share in Cash". Bloomberg.com. 2024-05-28. Retrieved 2024-12-04.
  28. ↑ "Private Equity Firm Energy Capital Partners to buy Atlantica Sustainable Infrastructure for $2.56 Billion". ESG News. 2024-05-30. Retrieved 2024-12-04.
  29. ↑ "MIAX Exchange Group - Options Markets - Delisting of Atlantica Sustainable Infrastructure PLC (AY) | MIAX". www.miaxglobal.com. Retrieved 2025-01-16.
  30. ↑ "Equity Corporate Actions Alert #2024 - 602 (UPDATED: Closed) Information Regarding the Merger of Atlantica Sustainable Infrastructure plc (AY)". www.nasdaqtrader.com. Retrieved 2025-01-16.
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