Atlantica strengthens presence in the US renewable energy market

Atlantica Sustainable Infrastructure has strengthened its position in the US renewable energy market with the acquisition of a development platform consisting of approximately 1.1 GW of solar and wind projects. These projects are located in the regions of the Midcontinent Independent System Operator (MISO) and the Southwest Power Pool. With this strategic acquisition, Atlantica expands its existing development portfolio, which was previously heavily focused on the regions of the California Independent System Operator (CAISO) and MISO. The new projects in Illinois, Colorado, Mississippi, and Texas seamlessly integrate into the existing structure. By integrating the newly acquired development team, Atlantica aims to enhance its ability to capitalize on growth opportunities in the renewable energy market. The team in the USA, comprising over 300 professionals, manages a broad spectrum of renewable energy assets, including solar, wind, and geothermal facilities as well as storage capacities. In December 2024, the High Court of Justice of England and Wales confirmed Atlantica's acquisition plan by California Buyer (Bidco), an entity of Energy Capital Partners and institutional co-investors. Already in May of the same year, Atlantica agreed to an acquisition by Bidco for $22 per share in cash. Atlantica's results for the first nine months of 2024 report revenues of $918.7 million, an increase of 7% compared to the previous year. Adjusted EBITDA rose by 4.8% to $657.5 million.