v3.24.1.u1

Nature of the business (Tables) | 3 Months Ended
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Mar. 31, 2024
Nature of the business [Abstract] |
Overview of main assets | The following table provides an overview of the main operating assets the Company owned or had an interest in as of March 31, 2024:
Assets | Type | Ownership | Location | Currency(9) | Capacity (Gross) | Counterparty Credit Ratings(10) | COD* | Contract Years Remaining(17)
Solana | Renewable (Solar) | 100% | Arizona (USA) | USD | 280 MW | BBB+/Baa1/BBB+ | 2013 | 20
Mojave | Renewable (Solar) | 100% | California (USA) | USD | 280 MW | BB/ Ba1/BB+ | 2014 | 16
Coso | Renewable (Geothermal) | 100% | California (USA) | USD | 135 MW | Investment Grade(11) | 1987-1989 | 18
Elkhorn Valley(16) | Renewable (Wind) | 49% | Oregon (USA) | USD | 101 MW | BBB/Baa1/-- | 2007 | 4
Prairie Star(16) | Renewable (Wind) | 49% | Minnesota (USA) | USD | 101 MW | --/A3/A- | 2007 | 4
Twin Groves II(16) | Renewable (Wind) | 49% | Illinois (USA) | USD | 198 MW | BBB+/Baa1/-- | 2008 | 2
Lone Star II(16) | Renewable (Wind) | 49% | Texas (USA) | USD | 196 MW | N/A | 2008 | N/A
Chile PV 1 | Renewable (Solar) | 35%(1) | Chile | USD | 55 MW | N/A | 2016 | N/A
Chile PV 2 | Renewable (Solar) | 35%(1) | Chile | USD | 40 MW | Not rated | 2017 | 7
Chile PV 3 | Renewable (Solar) | 35%(1) | Chile | USD | 73 MW | N/A | 2014 | N/A
La Sierpe | Renewable (Solar) | 100% | Colombia | COP | 20 MW | Not rated | 2021 | 12
La Tolua | Renewable (Solar) | 100% | Colombia | COP | 20 MW | Not rated | 2023 | 9
Tierra Linda | Renewable (Solar) | 100% | Colombia | COP | 10 MW | Not rated | 2023 | 9
Honda 1 | Renewable (Solar) | 50% | Colombia | COP | 10 MW | BBB-/-/BBB | 2023 | 7
Albisu | Renewable (Solar) | 100% | Uruguay | UYU | 10 MW | Not rated | 2023 | 14
Palmatir | Renewable (Wind) | 100% | Uruguay | USD | 50 MW | BBB+/Baa1/BBB(12) | 2014 | 10
Cadonal | Renewable (Wind) | 100% | Uruguay | USD | 50 MW | BBB+/Baa1/BBB(12) | 2014 | 11
Melowind | Renewable (Wind) | 100% | Uruguay | USD | 50 MW | BBB+/Baa1/BBB(12) | 2015 | 12
Mini-Hydro | Renewable (Hydraulic) | 100% | Peru | USD | 4 MW | BBB-/Baa1/BBB | 2012 | 9
Solaben 2 & 3 | Renewable (Solar) | 70%(2) | Spain | Euro | 2x50 MW | A/Baa1/A- | 2012 | 13/14
Solacor 1 & 2 | Renewable (Solar) | 87%(3) | Spain | Euro | 2x50 MW | A/Baa1/A- | 2012 | 13/13
PS10 & PS20 | Renewable (Solar) | 100% | Spain | Euro | 31 MW | A/Baa1/A- | 2007&2009 | 8/10
Helioenergy 1 & 2 | Renewable (Solar) | 100% | Spain | Euro | 2x50 MW | A/Baa1/A- | 2011 | 13/13
Helios 1 & 2 | Renewable (Solar) | 100% | Spain | Euro | 2x50 MW | A/Baa1/A- | 2012 | 13/13
Solnova 1, 3 & 4 | Renewable (Solar) | 100% | Spain | Euro | 3x50 MW | A/Baa1/A- | 2010 | 11/11/11
Solaben 1 & 6 | Renewable (Solar) | 100% | Spain | Euro | 2x50 MW | A/Baa1/A- | 2013 | 14/14
Seville PV | Renewable (Solar) | 80%(4) | Spain | Euro | 1 MW | A/Baa1/A- | 2006 | 12
Italy PV 1 | Renewable (Solar) | 100% | Italy | Euro | 1.6 MW | BBB/Baa3/BBB | 2010 | 7
Italy PV 2 | Renewable (Solar) | 100% | Italy | Euro | 2.1 MW | BBB/Baa3/BBB | 2011 | 7
Italy PV 3 | Renewable (Solar) | 100% | Italy | Euro | 2.5 MW | BBB/Baa3/BBB | 2012 | 8
Italy PV 4 | Renewable (Solar) | 100% | Italy | Euro | 3.6 MW | BBB/Baa3/BBB | 2011 | 7
UK Wind 1 | Renewable (Wind) | 100% | United Kingdom | GBP | 25 MW | AA/Aa3/AA- | 2012 | 9
UK Wind 2 | Renewable (Wind) | 100% | United Kingdom | GBP | 8 MW | AA/Aa3/AA- | 2003 | 4
Kaxu | Renewable (Solar) | 51%(5) | South Africa | Rand | 100 MW | BB-/Ba2/BB-(13) | 2015 | 11
Calgary | Efficient natural gas &heat | 100% | Canada | CAD | 55 MWt | ~60% AA- or higher(14) | 2010 | 12
ACT | Efficient natural gas & heat | 100% | Mexico | USD | 300 MW | BBB/B3/B+ | 2013 | 9
Monterrey (18) | Efficient natural gas &heat | 30% | Mexico | USD | 142 MW | Not rated | 2018 | 22
ATN (15) | Transmission line | 100% | Peru | USD | 379 miles | BBB-/Baa1/BBB | 2011 | 17
ATS | Transmission line | 100% | Peru | USD | 569 miles | BBB-/Baa1/BBB | 2014 | 20
ATN 2 | Transmission line | 100% | Peru | USD | 81 miles | Not rated | 2015 | 9
Quadra 1 & 2 | Transmission line | 100% | Chile | USD | 49 miles/32 miles | Not rated | 2014 | 11/11
Palmucho | Transmission line | 100% | Chile | USD | 6 miles | BBB/ -- /BBB+ | 2007 | 14
Chile TL3 | Transmission line | 100% | Chile | USD | 50 miles | A/A2/A- | 1993 | N/A
Chile TL4 | Transmission line | 100% | Chile | USD | 63 miles | Not rated | 2016 | 48
Skikda | Water | 34.20%(6) | Algeria | USD | 3.5 M ft3/day | Not rated | 2009 | 10
Honaine | Water | 25.50%(7) | Algeria | USD | 7 M ft3/day | Not rated | 2012 | 13
Tenes | Water | 51%(8) | Algeria | USD | 7 M ft3/day | Not rated | 2015 | 16
(1) | 65% of the shares in Chile PV 1, Chile PV 2 and Chile PV 3 are indirectly held by financial partners through the renewable energy platform of the Company in Chile.
(2) | Itochu Corporation holds 30% of the shares in each of Solaben 2 and Solaben 3.
(3) | JGC holds 13% of the shares in each of Solacor 1 and Solacor 2.
(4) | Instituto para la Diversificación y Ahorro de la Energía (“Idae”) holds 20% of the shares in Seville PV.
(5) | Kaxu is owned by the Company (51%), Industrial Development Corporation of South Africa (“IDC”, 29%) and Kaxu Community Trust (20%).
(6) | Algerian Energy Company, SPA owns 49% of Skikda and Sacyr Agua, S.L. owns the remaining 16.8%.
(7) | Algerian Energy Company, SPA owns 49% of Honaine and Sacyr Agua, S.L. owns the remaining 25.5%.
(8) | Algerian Energy Company, SPA owns 49% of Tenes. The Company has an investment in Tenes through a secured loan to Befesa Agua Tenes (the holding company of Tenes) and the right to appoint a majority at the board of directors of the project company. Therefore, the Company controls Tenes since May 31, 2020, and fully consolidates the asset from that date.
(9) | Certain contracts denominated in U.S. dollars are payable in local currency.
(10) | Reflects the counterparty’s credit ratings issued by Standard & Poor’s Ratings Services, or S&P, Moody’s Investors Service Inc., or Moody’s, and Fitch Ratings Ltd, or Fitch. Not applicable (“N/A”) when the asset has no PPA.
(11) | Refers to the credit rating of two Community Choice Aggregators: Silicon Valley Clean Energy and Monterrey Bar Community Power, both with A Rating from S&P and Southern California Public Power Authority. The third off-taker is not rated.
(12) | Refers to the credit rating of Uruguay, as UTE (Administración Nacional de Usinas y Transmisoras Eléctricas) is unrated.
(13) | Refers to the credit rating of the Republic of South Africa. The off-taker is Eskom, which is a state-owned utility company in South Africa.
(14) | Refers to the credit rating of a diversified mix of 22 high credit quality clients (~60% AA- rating or higher, the rest is unrated).
(15) | Including ATN Expansion 1 & 2.
(16) | Part of Vento II Portfolio.
(17) | As of March 31, 2024.
(18) | Accounted for as held for sale as of March 31, 2024.
(*) | Commercial Operation Date.
Assets under construction or ready to start construction | Additionally, Atlantica currently has the following assets under construction or ready to start construction in the short term:
Asset | Type | Location | Capacity (gross)1 | Expected COD | Expected Investment 2 ($ million) | Off-taker
Coso Batteries 1 | Battery Storage | California, US | 100 MWh | 2025 | 40-50 | Investment grade utility
Coso Batteries 2 | Battery Storage | California, US | 80 MWh | 2025 | 35-45 | Investment grade utility
Chile PMGD | Solar PV | Chile | 80 MW | 2024-2025 | 30 | Regulated
ATN Expansion 3 | Transmission Line | Peru | 2.4miles 220kV | 2024 | 12 | Conelsur
ATS Expansion 1 | Transmission Line | Peru | n.a. (substation) | 2025 | 30 | Republic of Peru
Honda 23 | Solar PV | Colombia | 10 MW | 2024 | 5.5 | Enel Colombia
Apulo 13 | Solar PV | Colombia | 10 MW | 2024 | 5.5 | -
Chile PV 3 expansion | Battery storage | Chile | 142 MWh | 2024 | 14-15 | Emoac
(1) | Includes nominal capacity on a 100% basis, not considering Atlantica’s ownership.
(2) | Corresponds to the expected investment by Atlantica.
(3) | Atlantica owns 50% of the shares in Honda 2 and Apulo 1.

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