Atlantica Sustainable Infrastructure has acquired a development platform in the US, comprising approximately 1.1GW of solar and wind projects under development in the Midcontinent Independent System Operator (MISO) and Southwest Power Pool regions.
The acquisition enhances Atlantica’s presence in the US renewables sector.
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The newly acquired platform includes projects in Illinois, Colorado, Mississippi, and Texas, which aligns with Atlantica’s existing development portfolio, previously concentrated in the California Independent System Operator (CAISO) and MISO regions.
The addition of these projects brings Atlantica’s US development portfolio to around 2GW of solar and wind projects, alongside 8.5GWh of storage capacity.
The acquisition also brings onboard a development team, which is expected to integrate with Atlantica’s current team in the US. This integration is poised to strengthen the company’s ability to capitalise on further growth opportunities within the renewable energy market.
With more than 300 professionals in the US, Atlantica’s team is responsible for managing and operating a diverse fleet of renewable energy assets, including solar, wind, geothermal, and storage facilities.
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By GlobalDataEarlier in December 2024, Atlantica announced that the High Court of Justice of England and Wales approved the scheme of arrangement for its acquisition by California Buyer (Bidco), controlled by Energy Capital Partners and institutional co-investors.
On 27 May 2024, Atlantica agreed to be acquired by Bidco for $22 per share in cash.
In November, Atlantica reported 2024 financial results for the first nine months. Revenue reached $918.7m, up 7% from 2023. Adjusted EBITDA was $657.5m, a 4.8% increase compared to $627.3m in 2023.
