v3.24.3
Nature of the business (Tables)
 9 Months Ended
Sep. 30, 2024
Nature of the business [Abstract]  
Overview of main operating assets
The following table provides an overview of the main operating assets the Company owned or had an interest in as of September 30, 2024:

Assets
Type
Ownership
Location
Currency(9)
Capacity
(Gross)
Counterparty
Credit Ratings(10)
COD*
Contract
Years
Remaining(18)
 
 
 
 
 
 
 
 
 
Solana
Renewable (Solar)
100%
Arizona (USA)
USD
280 MW
BBB+/Baa1/BBB+
2013
19
Mojave
Renewable (Solar)
100%
California (USA)
USD
280 MW
BB/ Ba1/BB+
2014
15
Coso
Renewable (Geothermal)
100%
California (USA)
USD
135 MW
Investment Grade(11)
1987-1989
17
Elkhorn Valley(16) Renewable (Wind) 49% Oregon (USA) USD 101 MW BBB/Baa1/-- 2007 3
Prairie Star(16)
Renewable (Wind)
49%
Minnesota (USA)
USD
101 MW
--/A3/A-
2007
3
Twin Groves II(16)
Renewable (Wind)
49%
Illinois (USA)
USD
198 MW
BBB+/Baa1/--
2008
1
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
6
Chile PV 3
Renewable (Solar)
35%(1)
Chile
USD
73 MW
Not rated
2014
10
Chile PMGD
Renewable (Solar) 49%
 Chile USD 9 MW(17) A/A2/A- 2024 10
La Sierpe
Renewable (Solar)
100%
Colombia
COP
20 MW
Not rated
2021
11
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
 6
Honda 2
 Renewable (Solar) 50% Colombia COP 10 MW BBB-/-/BBB 2024 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
10
Melowind
Renewable (Wind)
100%
Uruguay
USD
50 MW
BBB+/Baa1/BBB(12)
2015
11
Mini-Hydro
Renewable (Hydraulic)
100%
Peru
USD
4 MW
BBB-/Baa1/BBB
2012
8
Solaben 2 & 3
Renewable (Solar)
 70%(2)
Spain
Euro
2x50 MW
A/Baa1/A-
2012
13/13
Solacor 1 & 2
Renewable (Solar)
87%(3)
Spain
Euro
2x50 MW
A/Baa1/A-
2012
12/12
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
12/12
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
11
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
7
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 8
UK Wind 2
 Renewable (Wind) 100% United Kingdom GBP 8 MW AA/Aa3/AA- 2003 3
Kaxu
Renewable (Solar)
51%(5)
South Africa
Rand
100 MW
 BB-/Ba2/BB-(13)
2015
10
Calgary
Efficient natural gas &heat
100%
Canada
CAD
55 MWt
 ~60% AA- or higher(14)
2010
11
ACT
Efficient natural gas & heat
100%
Mexico
USD
300 MW
BBB/B3/B+
2013
9

ATN(15)
Transmission line
100%
Peru
USD
381 miles
BBB-/Baa1/BBB
2011
16
ATS
Transmission line
100%
Peru
USD
569 miles
BBB-/Baa1/BBB
2014
19
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
10/10
Palmucho
Transmission line
100%
Chile
USD
6 miles
BBB/ -- /BBB+
2007
13
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
47
Skikda
Water
34.20%(6)
Algeria
USD
3.5 M ft3/day
Not rated
2009
9
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 & 3.
(16)
Part of Vento II Portfolio.
(17)
9 MW of the 80 MW portfolio of Chile PMGD were already in operation as of September 30, 2024.
(18)
As of September 30, 2024.
(*) Commercial Operation Date.
Assets under construction or ready to start construction
Additionally, Atlantica as of September 30, 2024, 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
71 MW
2024-2025
33(4)
Regulated
Chile PV 3 Expansion
Battery storage
Chile
142 MWh
2024
14-15
Emoac
ATS Expansion 1
Transmission Line
Peru
n.a. (substation)
2025
31
Republic of Peru
Apulo 1(3)
Solar PV
Colombia
10 MW
2024
5.5
-
Caparacena
Solar PV
Spain
22 MW
2026
10-12
 Electricity Distribution Company

(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 Apulo 1.
(4)
Corresponds to Atlantica’s expected investment for the total 80 MW Chile PMGD portfolio.