Our Growth Opportunities

Atlantica is well positioned to benefit from the expected transition towards a more sustainable power generation mix in our markets. We intend to take advantage of, and leverage our growth strategy on, favorable trends in the clean power generation and the global focus on the reduction of carbon emissions.

We intend to grow our business maintaining renewable energy as our main segment with a primary focus on North America and Europe, through different sources:

  • Optimization of existing assets: we believe we can achieve organic growth through revenue escalation factors at many of our assets, operational improvements and financial optimization of our existing project debt.
  • Expansion and repowering: we have opportunities of repowering and hybridization with other technologies of some of the renewable energy facilities, as well as expansion opportunities of our transmission lines.
  • Development: we invest in the development and construction of new assets, in some cases on our own and in other cases through partnerships with developers. We currently have a 2 GW renewable energy pipeline, which is coupled with ~5.9 GWh of storage capacity with a core-focus on the U.S.
  • Third party Acquisitions: we expect to acquire assets from third parties leveraging the local presence and network we have in geographies and sectors in which we operate.

With this business model, our objective is to pay a consistent and growing cash dividend to shareholders that is sustainable on a long-term basis.

Pipeline Overview

Our project identification process is supported by a rigorous analysis and deeply rooted industry knowledge experience.

By focusing our development activities on locations where we already have assets in operation and by working in many cases with partners, we have been able to maintain our development cost at what we believe are low levels.

We currently have a pipeline of assets under development of approximately 2.0 GW of renewable energy and 5.9 GWh of storage. Approximately 43% of the projects are in PV, 42% in storage and 14% in wind, while 15% of the projects are expected to reach ready to build (“Rtb”) in 2023 or 2024, 25% are in an advanced development stage and 60% are in early stage.

Pipeline of Assets Under Development1
  Renewable Energy (GW) Storage (GWh)
North America 1.0 4.0
Europe 0.4 1.7
South America 0.6 0.2
Total 2.0 5.9

(1) Only includes projects estimated to be ready to build before or in 2030 of approximately 3.5 GW, 2.0 GW of renewable energy and 1.5 GW of storage (equivalent to 5.9 GWh). Capacity measured by multiplying the size of each project by Atlantica’s ownership. Potential expansions of transmission lines not included.