Atlantica Announces Acquisition Of Two Wind Assets In United Kingdom; Investment Amount Was ~$66M
Portfolio Pulse from Benzinga Newsdesk
Atlantica Sustainable Infrastructure plc (AY) has announced the acquisition of two wind assets in the United Kingdom for approximately $66 million. The purchase price reflects an Enterprise Value/EBITDA multiple of about 6.6 times.
March 25, 2024 | 1:15 pm
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POSITIVE IMPACT
Atlantica Sustainable Infrastructure plc (AY) has expanded its renewable energy portfolio by acquiring two wind assets in the UK for approximately $66 million.
The acquisition of these wind assets by Atlantica is likely to be viewed positively by investors, as it expands the company's renewable energy portfolio and demonstrates its commitment to growth in the renewable sector. The purchase price's EV/EBITDA multiple of 6.6 times indicates a strategic investment that could enhance Atlantica's long-term earnings and operational efficiency. This move is expected to have a positive short-term impact on AY's stock price, reflecting investor optimism about the company's growth trajectory and its focus on sustainable energy assets.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90