Asset Management Policy
Our business is to own, manage and operate sustainable assets in a sustainable way. As such, asset management is the core of our business. Asset management involves health and safety (H&S), environmental matters, compliance, operation and maintenance, financial, economic and other practices applied to the physical assets.
At Atlantica, Asset Managers oversee day-to-day activities of each of our assets and report to three VPs, who have full responsibility and accountability for the assets they manage. Additionally, an Operations team supports Asset Managers by auditing the assets’ health and safety procedures and operational and environmental performance in order to implement best practices. while the Internal Audit team audits asset records, processes and procedures.
We are committed to efficiently and effectively managing our assets, maximizing asset performance and promoting positive impacts in local communities while minimizing risks and negative impacts to the environment, workforce and contractors. In some cases, we operate and maintain our assets directly; in other cases we use third parties for those functions.
Excellence and Efficiency are one of our core values. We believe in outstanding and disciplined asset management of our operations while seeking excellence in a cost-efficient manner. As such, we are committed to:
- Promoting and maintaining a zero-accident policy. Developing new initiatives and implementing world class safety standards in Health and Safety in all operating assets.
- Enforcing safety procedures through annual audits and inspections, identifying hazards, developing prevention strategies, analyzing deviations and implementing corrective plans.
- Complying with laws, regulations and permit requirements and with our internal policies in all areas where we operate.
- Maintaining annual emergency drill plans to evaluate and improve emergency procedures.
- Maintaining emergency plans in-place at our assets and assessing potential emergency scenarios and the associated emergency procedures.
- Investigating potential incidents to identify root causes and implement corrective measures.
- Subjecting our key equipment to predictive, preventive, and corrective maintenance to maximize performance while minimizing risks.
- Maintaining key performance indicators and periodically monitoring such indicators.
- Managing risks:
- Identifying, measure, quantifying, covering and monitoring our risk exposure and take all the necessary actions to mitigate or reduce such risks.
- Disclosing risk identification and mitigation measures.
- Continuing to identify best practices and implementing them appropriately.
- Disclosing asset management objectives.
- Maintaining a formal asset management plan.
- Periodically auditing our assets including all relevant matters relating to operation, maintenance, health and safety, environment and financial matters.
- Fostering continuous improvement.
- Managing suppliers according to Atlantica’s suppliers code of conduct.
- Providing periodic training to our employees and contractors’ employees to improve their skills as well as to promote talent retention and professional career development initiatives.
- Performing routine analysis to optimize capex and opex needs.
The implementation of this Asset Management Policy is reviewed by senior management in the Business Committees.