Energy Capital Partners is Negotiating the Purchase of Atlantica
The Energy Capital Partners fund is in advanced talks to acquire Atlantica Sustainable Infrastructure, the former Abengoa subsidiary for the US business, as revealed by Bloomberg. Atlantica, led by Santiago Seage, has seen its shares drop by almost 18% on the US stock exchange over the past year, giving the company a market capitalization of around $2.5 billion.
Value and Assets of Atlantica Sustainable Infrastructure
Controlled by Algonquin, Atlantica is now valued at nearly $7 billion, including debt. The company’s assets include solar, natural gas, and wind power plants in the US, South America, Africa, and Europe. With a portfolio of 44 assets, most of which have contracted or regulated revenues, Atlantica Sustainable currently owns assets with a weighted average remaining contractual life of approximately 14 years as of March 31, 2023.
Company Strategy and Future Projects
In February, the company announced that it was initiating a strategic review to maximize shareholder value. Atlantica Sustainable plans to present its annual results next week. The fund has carried out transactions worth over $19 billion. Approximately 43% of the projects are solar, 40% storage, and 15% wind power, with 17% of the projects expected to be ready for construction (“Rtb”) this year, 16% in advanced development, and 67% in the initial phase. Of the total, 25% are opportunities for asset expansion or repowering, and 75% are entirely new projects.