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Atlantica Sustainable Infrastructure plc (NASDAQ: AY) is a prominent sustainable infrastructure company that owns a diversified portfolio of contracted renewable energy assets, including solar, wind, and geothermal power plants, as well as efficient natural gas & heat, transmission lines, and water assets located across North & South America, and certain markets in EMEA. Atlantica is committed to delivering sustainable energy solutions while focusing on environmental, social, and governance (ESG) goals.
Atlantica's core business revolves around owning and operating renewable energy projects that provide reliable and sustainable energy to the grid. The company has a significant presence in the renewable energy sector, with solar, wind, and geothermal power plants contributing to its substantial energy production. Key financial results for 2022 include:
- Revenue of $1,102.0 million, a 2.9% increase year-over-year on a comparable basis.
- Net cash provided by operating activities was $586.3 million, a 16.0% increase compared to 2021.
- Cash available for distribution (CAFD) increased by 5.5% to $237.9 million.
In 2023, Atlantica reported significant growth and strategic initiatives:
- Revenue for the first half of 2023 reached $554.6 million, a 1.4% increase year-over-year.
- Adjusted EBITDA for the first half of 2023 was $403.8 million, a 1.9% increase year-over-year on a comparable basis.
- Net profit for the first half of 2023 attributable to the Company was $24.7 million, compared with a net profit of $4.1 million in the first half of 2022.
Atlantica is also focused on growth through development and construction. The company has several projects under development, including PV, storage, and wind, primarily in North America. Recent achievements include the construction of Coso Batteries 1 and 2 in California, and the acquisition of wind assets in the UK.
Atlantica continues to be recognized internationally for its ESG initiatives. The company has been ranked among the World's 100 Most Sustainable Corporations, included in the Bloomberg Gender-Equality Index, and recognized by the S&P Global Sustainability Yearbook.
As part of its strategic review process, Atlantica announced in May 2024 that it entered into a definitive agreement to be acquired by Energy Capital Partners and co-investors for $22 per share in cash, valuing the company at approximately $2.555 billion. The transaction is expected to close by early 2025, subject to regulatory and shareholder approvals.
Atlantica Sustainable Infrastructure reported its financial results for the first nine months of 2024. Revenue reached $918.7 million, up 7.0% year-over-year, while Adjusted EBITDA increased 4.8% to $657.5 million. Net profit decreased to $32.7 million from $46.1 million in the same period of 2023. Operating Cash Flow declined 6.6% to $311.8 million, and CAFD decreased 4.0% to $176.9 million. The company's pending acquisition by Energy Capital Partners and co-investors is expected to close on December 12, 2024. The Board approved a quarterly dividend of $0.2225 per share.
Atlantica Sustainable Infrastructure (NASDAQ: AY) announced that its acquisition by Energy Capital Partners and co-investors is scheduled to close on December 12, 2024. All regulatory approvals, including clearance from the Committee on Foreign Investment in the United States and Federal Energy Regulatory Commission, were obtained by October 25th. The High Court of Justice of England and Wales hearing to sanction the transaction is set for December 10, 2024. Prior to closing, Atlantica may declare a final cash dividend of up to $0.2225 per share, subject to board approval. Details about the dividend are expected in the Q3 2024 results announcement on November 14, 2024.
Atlantica Sustainable Infrastructure plc (NASDAQ: AY) announced the completion of shareholders' meetings to approve its acquisition by Energy Capital Partners and co-investors. Based on preliminary results, the transaction received all necessary shareholder approvals. The acquisition still requires sanction from the High Court of Justice of England and Wales, as well as regulatory approvals including clearance from the Committee on Foreign Investment in the United States and the Federal Energy Regulatory Commission. The transaction is expected to close in Q4 2024 or early Q1 2025. Detailed information about the transaction can be found in the company's Form 6-K filings from May 28 and July 16, 2024.
Atlantica Sustainable Infrastructure (NASDAQ: AY) reported its financial results for the first half of 2024. Revenue increased by 3.0% to $571.2 million, while Adjusted EBITDA remained stable at $407.3 million. Net profit decreased to $16.0 million from $24.7 million in the previous year. Operating Cash Flow increased by 2.3% to $141.9 million.
The company approved a quarterly dividend of $0.445 per share. Notably, Atlantica entered into a transaction agreement with California Buyer , controlled by Energy Capital Partners, for the acquisition of 100% of Atlantica's shares at $22 per share in cash. The transaction is expected to close in Q4 2024 or early Q1 2025, after which Atlantica will become a privately held company.
Atlantica Sustainable Infrastructure (NASDAQ: AY) has published a scheme circular for shareholder meetings on August 8, 2024, to vote on its proposed acquisition by Bidco, controlled by Energy Capital Partners (ECP) and co-investors. The Atlantica Board unanimously recommends shareholders vote 'FOR' the Transaction. Algonquin Power & Utilities Corp., holding 42.2% of Atlantica's shares, has agreed to vote in favor. Shareholders of record as of 6:30 p.m. (London time) on August 6, 2024, are eligible to vote. The scheme circular provides detailed information on the acquisition and voting procedures.
Atlantica Sustainable Infrastructure (NASDAQ: AY) has entered into a definitive agreement to be acquired by Energy Capital Partners (ECP) and co-investors for $22 per share in cash. This offer represents an 18.9% premium to Atlantica's April 22, 2024 closing price and values the company at approximately $2.555 billion.
The deal will be executed via a scheme of arrangement under the U.K. Companies Act 2006, subject to approval by Atlantica’s shareholders and necessary regulatory consents. Algonquin Power & Utilities, which holds 42.2% of Atlantica’s shares, supports the acquisition.
Expected to close in late 2024 or early 2025, Atlantica will become a privately held entity and will delist from public markets. The company plans to continue paying its quarterly dividend of $0.445 per share until the transaction's completion.
Atlantica Sustainable Infrastructure plc (NASDAQ: AY) reported its first quarter 2024 financial results, with revenue stable at $242.9 million, adjusted EBITDA at $164.2 million (0.9% decrease), net loss at $5.4 million, and operating cash flow up by 57.3%. The company signed a 15-year PPA for a solar + storage project, closed the acquisition of two wind assets in the UK, and approved a quarterly dividend of $0.445 per share. The strategic review is ongoing.
Atlantica Sustainable Infrastructure (NASDAQ: AY) will release its financial results for the year 2024 on May 8, 2024, with a conference call and webcast led by CEO Santiago Seage and CFO Francisco Martinez-Davis. They will also hold meetings with investors at various conferences in May.
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