Atlantica (company)

Atlantica Sustainable Infrastructure is a UK-based sustainable infrastructure company headquartered in London. The company operates a diverse portfolio of assets, including renewable energy, efficient natural gas and electric transmission lines across several countries.[3][4]

History

Atlantica was founded in 2013, established to manage a portfolio of long-term contracted energy and environmental infrastructure assets. The company went public on the NASDAQ in 2014, initially focusing on solar power plants, transmission lines, and water assets.[5][6][7] Santiago Seage has served as Atlantica's CEO since its founding in 2013, with a brief departure in 2015.[8]

In 2020, the company rebranded as Atlantica Sustainable Infrastructure to reflect its growing focus on renewable energy and sustainability.[9]

In 2021, Atlantica further diversified its portfolio by acquiring the Coso Geothermal Plant in California, which provides base-load renewable energy.[10][11] In the same year, Atlantica purchased a 49% stake in a wind portfolio with a total capacity of 596 MW for $196.5 million. Known as Vento II, the portfolio includes four wind assets located across Illinois, Texas, Oregon, and Minnesota.[12]

By the end of 2023, Atlantica's renewable energy portfolio comprised 2,171 MW in operation.[13] In 2024, the company expanded its portfolio further by acquiring two wind assets in Scotland, adding a combined capacity of 32 MW to its operations.[14]

In December 2024, Atlantica was acquired by Energy Capital Partners and a group of co-investors, leading to its delisting from the NASDAQ.[15][16]

Operations

As of 2024, Atlantica manages assets with a total installed capacity of 2.2 gigawatts (GW) of renewable energy, including solar, wind, and geothermal power plants.[8][17] The company's portfolio spans several regions: in North America, Atlantica operates the Solana and Mojave solar power plants and holds a 49% stake in a 596 MW wind energy portfolio.[18][19] In Europe, Atlantica operates renewable energy projects, particularly in Spain.[20][21] In South America, Atlantica owns several wind farms in Uruguay.[22]

Acquisition

In 2024, Energy Capital Partners (ECP), a U.S.-based private investor in energy transition together with a group of co-investors, announced its plan to acquire Atlantica for $2.555 billion, with a purchase price of $22 per share.[23][24][25]

On May 27, 2024, Atlantica entered into an agreement pursuant to which 100% of its shares would be acquired by Energy Capital Partners and co-investors. In August 2024, Atlantica’s shareholders approved the acquisition, with 97% voting in favor at the general meeting.[26] The acquisition completed in the fourth quarter of 2024.[24][27]

In December 2024, Atlantica Sustainable Infrastructure completed its acquisition by California Buyer Limited, a subsidiary of Energy Capital Partners and co-investors, through a scheme of arrangement under English law. Following the transaction, Atlantica's ordinary shares were delisted from the Nasdaq Global Select Market.[28][29]