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Company null (ABY) operates at the forefront of renewable energy asset management, specializing in wind energy acquisitions and operational optimization. This news hub provides investors and stakeholders with timely updates on strategic initiatives, financial performance, and industry developments.
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Discover updates on wind farm developments, geographic expansion efforts, and technological innovations in energy production. The curated content enables informed analysis of the company's risk management practices and portfolio diversification strategies.
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Atlantica Sustainable Infrastructure reported a revenue increase of 11.8% year-over-year to $235.2 million for Q1 2021. The company achieved a net loss of $19.2 million, significantly reduced from $40.5 million in Q1 2020. Operating cash flow rose to $146.7 million, compared to $85.7 million a year earlier. The company approved a quarterly dividend of $0.43 per share and closed several acquisitions, including a 135 MW geothermal plant in California. Overall, liquidity increased to $874.2 million, bolstered by credit rating upgrades to BB+.
Atlantica Sustainable Infrastructure (NASDAQ: AY) will announce its Q1 2021 financial results before the market opens on May 6, 2021. The results will be available on Atlantica’s official website. A conference call hosted by CEO Santiago Seage and CFO Francisco Martinez-Davis is scheduled for the same day at 8:30 AM ET, with virtual investor meetings planned throughout May at several industry conferences. Participants are encouraged to register for the webcast 15 minutes prior and call in at least 20 minutes early.
Atlantica Sustainable Infrastructure has announced a deal to acquire a 49% interest in a 596 MW portfolio of wind assets across Illinois, Texas, Oregon, and Minnesota for approximately $196.5 million. The transaction, valued at an Enterprise Value/EBITDA multiple of 5.9, is debt-free, with plans to potentially secure non-recourse debt. The acquired assets have power purchase agreements with investment-grade off-takers and an average contract life of 5 years. This acquisition is expected to enhance Atlantica's North American presence and align with its ESG goals.
Atlantica Sustainable Infrastructure has announced an agreement to acquire Coso Geothermal Power Holdings for approximately $170 million. Coso, a 135 MW geothermal power plant, is the third largest in the U.S. and essential for California's decarbonization efforts. The acquisition aims to enhance Atlantica's renewable portfolio and is expected to close in the first half of 2021, pending regulatory approvals. Coso has long-term contracts with investment-grade offtakers, contributing to a stable revenue stream and aligning with Atlantica's sustainability goals.
Atlantica Sustainable Infrastructure reported 2020 financial results with a net profit of $12 million, down from $62.1 million in 2019. Adjusted EBITDA decreased by 3.1% to $796.1 million due to higher operating expenses and lower production at Kaxu. However, net cash provided by operating activities rose by 20.5% to $438.2 million. The company targets a 2021 CAFD range of $220 million to $240 million, with 2021 Adjusted EBITDA guidance between $820 million and $860 million. Overall, there were over $300 million in closed equity investments in 2020 and $280 million in agreements for 2021.
Atlantica Sustainable Infrastructure (NASDAQ: AY) will release its fiscal year 2020 financial results before the market opens on March 1, 2021. The press release will be available on their website. CEO Santiago Seage and CFO Francisco Martinez-Davis will lead a conference call at 8:30 am (ET) on the same day. Additionally, they will engage in virtual meetings with investors during the Morgan Stanley Virtual Global Energy & Power Conference and other events from March 1 to March 3, 2021. A replay of the call will be accessible shortly after its conclusion.
Atlantica Sustainable Infrastructure has announced its agreement to acquire a 20MW solar plant in Colombia from Algonquin Power & Utilities. The investment totals approximately US $20 million, marking Atlantica's inaugural venture in Colombia, a country recognized for its attractive growth prospects in renewables. The project will feature a 15-year Power Purchase Agreement (PPA) and is expected to commence commercial operations in mid-2021. The companies may also collaborate on additional solar projects in Colombia, with a total capacity of about 30MW.
Atlantica Sustainable Infrastructure has been recognized by the CDP for its leadership in climate change, receiving an A- in its 2020 Climate Change assessment, a one-notch improvement from 2019. This rating positions Atlantica above the average in the Renewable Power Generation sector. CEO Santiago Seage emphasized the company's commitment to environmental initiatives and transparency as part of its strategy for sustainability. CDP evaluates over 9,600 companies globally, driving efforts to reduce greenhouse gas emissions and manage environmental impacts.
