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					</table><p><a href="https://www.mercomindia.com/cerc-powergrid-evacuate-4-5-gw-renewable-power-gujarat" target="_blank" rel="noopener"><strong>The Central Electricity Regulatory Commission has granted a transmission license to POWERGRID Khavda II-C Transmission, a wholly owned subsidiary of Power Grid Corporation of India, for evacuating 4.5 GW of renewable energy</strong></a> at the Khavda pooling station, Gujarat, under Phase-II, Part C on a build, own, and operate basis. The Commission said the evacuation of 4.5 GW of renewable energy under Phase II, including Parts A to D, has to be taken up in a similar timeframe.</p>
<p><a href="https://www.mercomindia.com/india-potential-attract-global-investments-battery-recycling" target="_blank" rel="noopener"><strong>The collective capacity of lithium-ion batteries in India across various sectors is projected to reach approximately 600 GWh by 2030, according to a report by NITI Aayog</strong></a> and the Green Growth Equity Fund Technical Cooperation Facility. By 2030, it is anticipated that around 128 GWh of these batteries will be recycled, with nearly 59 GWh originating specifically from the electric vehicle sector.</p>
<p><a href="https://www.mercomindia.com/solaredges-q2-net-income-solar-inverter-shipments" target="_blank" rel="noopener"><strong>SolarEdge, an Israel-based solar inverter manufacturer, has posted a net income of $119.5 million during the second quarter (Q2) of 2023, a year-over-year (YoY) growth of 692% from $15.1 million.</strong></a> The company recorded revenue of $991.3 million, a 36% YoY increase from $727.8 million. The company reported that revenues from its solar business reached a record high of $947 million, while revenues from its non-solar businesses amounted to $44 million, an increase from $35.2 million last quarter which was a result of higher storage division revenues.</p>
<p><a href="https://www.mercomindia.com/iberdrola-records-marginal-solar-capacity-reaches-5-gw" target="_blank" rel="noopener"><strong>Spain-based independent power producer Iberdrola recorded a net profit of €1.04 billion (~$ 1.14 billion) during Q2 of FY 2023, an increase of 2% on a YoY</strong></a> as compared to €1.02 billion (~$1.1 billion). The company’s revenue during the quarter came up to €10.8 billion (~$11.8 billion), a decrease of 11.5%, from €12.28 billion (~$13.5 billion) during Q2 2022, due to the increased investments made through the first half including Q2.</p>
<p><a href="https://www.mercomindia.com/sunpowers-q2-2023-net-loss-showing-strong-recovery" target="_blank" rel="noopener"><strong>Distributed generation storage and energy services company SunPower Corporation narrowed its net loss to $33 million during Q2 2023, an improvement of 47% on a YoY basis</strong></a> compared to losses of $62.3 million. The company recorded a revenue of $463.85 million during Q2 2023, an increase of 11% compared to $417.77 million recorded during the corresponding period in 2022.</p>
<p><a href="https://www.mercomindia.com/atlantica-profit-jumps-q2-23" target="_blank" rel="noopener"><strong>UK-headquartered power infrastructure company Atlantica Sustainable Infrastructure recorded a net profit of $35.65 million for Q2 FY 2023, a YoY increase of 121%.</strong></a> The company’s revenue for the April-June period increased 1% YoY to $312.11 million. The jump in net profit was attributed to the operational income from the company’s South American operations, which also helped boost the profits for the first six months of the year.</p>


Daily News Wrap-Up: CERC Approves Evacuation of 4.5 GW of Renewable Power in Gujarat


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					</table><p>UK-headquartered power infrastructure company<a href="https://www.atlantica.com/web/en/" target="_blank" rel="noopener"> Atlantica Sustainable Infrastructure</a> recorded a net profit of $35.65 million for the second quarter (Q2) of the financial year (FY) 2023, a year-over-year (YoY) increase of 121%.</p>
<p>The company’s revenue for the April-June period increased 1% YoY to $312.11 million.</p>
<p>The company owns a diversified portfolio of contracted renewable energy, storage, natural gas, power transmission, and water assets in North and South America and other regions globally.</p>
<p>The jump in net profit was attributed to the operational income from the company’s South American operations, which also helped boost the profits for the first six months of the year.</p>
<p>The adjusted Earnings before Interest, Tax, Depreciation, and Amortization (EBITDA) from all its businesses totaled $229.62 million, a 0.4% increase YoY.</p>
<p><strong>Half year 2023</strong></p>
<p>Atlantica recorded a net profit of $24.66 million for the first half (1H) FY 2023, a 506% YoY increase. The substantial increase in profit is primarily attributed to a 17% YoY rise in revenue, amounting to $91.51 million, from the company&#8217;s operations in South America.</p>
<p>The company’s revenue for the January-June period dipped 0.1% YoY to $554.62 million.</p>
<p>The adjusted EBITDA from all its businesses totaled $403.83 million, a 0.4% increase YoY.</p>
<p>The company’s renewable energy portfolio grew to 2,161 MW in 1H 2023 from 2,048 MW during the same period last year. The company has a pipeline of ~2 GW renewable energy projects and 5.9 GWh storage projects.</p>
<p>Production in the renewable energy portfolio increased by 5.9% for 1H FY 2023 compared to the first half of 2022, mainly due to the increase in production in solar assets in Spain, where solar radiation was higher in the period, and to the contribution from the recently consolidated assets and those that have entered into operation recently.</p>
<p>The production also increased in Atlantica’s U.S. solar assets despite lower solar radiation, mainly due to the higher availability of Solana’s storage system as well as higher solar field availability.</p>
<p>On the other hand, the production of wind assets in the U.S. decreased due to lower wind resources in the first half of 2023.</p>
<p>Atlantica’s net loss had <a href="https://www.mercomindia.com/atlantica-q1-revenue-renewables-drop" target="_blank" rel="noopener">narrowed</a> to $11 million for the first quarter of FY 2023 compared with $12 million YoY due to lower operating expenses.</p>
<p>In December,  the Competition Tribunal conditionally <a href="https://www.mercomindia.com/funding-and-ma-roundup-belectric-acquired-elevion" target="_blank" rel="noopener">approved</a> the proposed merger whereby Atlantica Sustainable Infrastructure intends to acquire the employees of Abengoa, South Africa, and the<strong> </strong>assets of solar company Kaxu CSP. The primary acquiring firm is Atlantica South Africa Operations, an indirect subsidiary of Atlantica. Atlantica conducts activities in South Africa through Kaxu Solar One.</p>


Atlantica’s Profit Jumps by 121% YoY in Q2 on Higher Operational Income


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					</table><p><a href="https://www.mercomindia.com/module-manufacturers-dilemma-switching-topcon" target="_blank" rel="noopener"><strong>Solar module technology has been evolving so rapidly that Indian manufacturers, relying on importing the production lines mainly from China</strong></a>, are caught between the fear of falling behind the technology curve or being saddled with a bad investment. The manufacturer’s dilemma is whether to upgrade from the widely used passivated emitter and rear contact technology to a more advanced and efficient tunnel oxide passivated contact solar cell.</p>
<p><a href="https://www.mercomindia.com/large-lithium-discovered-in-rajasthan-gsi-officials" target="_blank" rel="noopener"><strong>Months after the Geological Survey of India announced the discovery of lithium reserves in Jammu and Kashmir, officials in the Rajasthan government said that they have discovered lithium in the state</strong></a>. Citing officials, the news agency IANS reported that the lithium deposits found in Rajasthan are so vast that they can end China’s monopoly and make India self-sufficient in green energy.</p>
<p><strong><a href="https://www.mercomindia.com/rajasthan-annual-banking-promote-captive-renewable-projects" target="_blank" rel="noopener">The Rajasthan Electricity Regulatory Commission has proposed certain amendments to ease procedures for developing renewable projects for captive use by allowing banking annually</a></strong>, making it attractive for end-users. The amendments deal with transmission and wheeling charges, captive generating projects, banking of energy, green energy tariff, and green certificates. The stakeholders can submit their suggestions until May 26, 2023.</p>
<p><strong><a href="https://www.mercomindia.com/telangana-regulator-cuts-open-access-levy-by-72-1h-fy24" target="_blank" rel="noopener">The Telangana State Electricity Regulatory Commission has approved a reduced additional surcharge of ₹0.39 (~$0.0047)/kWh for open access consumers</a></strong> who avail power from any source other than the distribution companies of the state. This is a 72% drop from the additional surcharge of ₹1.38 (~$0.017)/kWh applicable from October 1, 2022, to March 31, 2023.</p>
<p><a href="https://www.mercomindia.com/upcoming-auctions-offshore-wind-target" target="_blank" rel="noopener"><strong>Energy industry trade association Energy UK has warned that the upcoming Contracts for Difference (CfD) auction will not be sufficient to meet the UK Government’s 2030</strong></a> target of 50 GW offshore wind capacity. There is only 27 GW in operation or receipt of a CfD contract, so future offshore wind developments will almost exclusively have to come through the program. This means the forthcoming auctions must deliver another 23 GW. The Energy UK analysis, however, shows that the program will fall short of achieving this.</p>
<p><a href="https://www.mercomindia.com/nextera-sell-natural-gas-assets-focus-on-renewables" target="_blank" rel="noopener"><strong>U.S.-based energy firm NextEra Energy announced that it would focus solely on growing its renewable energy portfolio and sell off its STX Midstream and Meade natural gas pipeline assets in 2023 and 2025</strong></a>. The company aims to use the excess proceeds to buy out its convertible equity portfolio financings. It is also looking to capitalize on the low-cost nature of renewables.</p>
<p><a href="https://www.mercomindia.com/yes-bank-offers-up-some-msmes-for-solar-systems" target="_blank" rel="noopener"><strong>YES BANK will provide term loans of up to ₹30 million (~$365 million) with a six-year tenure and six-month moratorium for micro, small, and medium enterprises manufacturers </strong></a>to install ground-mounted or rooftop solar systems for their own electricity consumption. For the YES KIRAN program, the bank has partnered with original equipment manufacturers and solar solution companies.</p>
<p><a href="https://www.mercomindia.com/atlantica-q1-revenue-renewables-drop" target="_blank" rel="noopener"><strong>UK-headquartered Atlantica Sustainable Infrastructure’s net loss narrowed to $11 million for the first quarter of the financial year 2023 compared with $12 million</strong> </a>year-over-year (YoY) due to lower operating expenses. The company’s revenue for the January-March period dipped 2% YoY to $242.5 million.</p>
<p><a href="https://www.mercomindia.com/us-pledges-4-billion-for-ports-and-heavy-duty-transportation" target="_blank" rel="noopener"><strong>The U.S. Environmental Protection Agency is seeking public input on two programs with a cumulative investment of $4 billion in technologies to reduce climate pollutants</strong> </a>at ports and protect the health of the people living and working near ports, schools, and other truck routes. The two programs –“The Clean Ports Program” and “The Clean Heavy-Duty Vehicle Program” — will use $3 billion and $1 billion, respectively, from the Inflation Reduction Act.</p>
<p><a href="https://www.mercomindia.com/translucent-organic-solar-to-absorb-narrow-light-band" target="_blank" rel="noopener"><strong>Researchers at the Karlsruhe Institute of Technology are studying the use of semi-transparent photovoltaics with precisely adjustable absorption properties</strong></a>, which would increase the overall efficiency of solar panels. The project establishes that by combining new materials with targeted component design, the absorption of incident light in precisely defined spectral ranges can be achieved with a semi-transparent solar cell.</p>


Daily News-Wrap Up: The TOPCon vs. MonoPERC Conundrum for Module Makers


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					</table><p>UK-headquartered<a href="https://www.atlantica.com/web/en/" target="_blank" rel="noopener"> Atlantica Sustainable Infrastructure</a>’s net loss narrowed to $11 million for the first quarter (Q1) of the financial year (FY) 2023 compared with $12 million year-over-year (YoY) due to lower operating expenses.</p>
<p>The company’s revenue for the January-March period dipped 2% YoY to $242.5 million.</p>
<p>The company owns a diversified portfolio of contracted renewable energy, storage, natural gas, power transmission, and water assets in North and South America and other regions globally.</p>
<p>The adjusted Earnings before Interest, Tax, Depreciation, and Amortization (EBITDA) from all its businesses totaled $174.2 million, a 0.3% increase YoY.</p>
<p><strong>Renewable Energy Business</strong></p>
<p>The firm’s revenue from the renewables segment stood at $172.6 million, down by 5% YoY. The income from its North America business declined by 2% YoY to $72.8 million.</p>
<p>The company attributed the drop in revenue to the low solar resource in California and Arizona during the quarter.</p>
<p>The company’s renewable energy portfolio grew to 2,161 MW in Q1 2023 from 2,044 MW during the same period last year.</p>
<p>Production in the renewable energy portfolio increased by 9% for the first quarter of 2023 compared with the first quarter of 2022, mainly due to the increase in production of Atlantica’s solar assets in Spain, where solar radiation was excellent in the period, and to the contribution from the recently consolidated assets and those that have entered operation recently.</p>
<p>Atlantica’s first standalone battery storage project, an in-house project with a capacity of 100 MW, is expected to start operation in 2024. This will be the first project from the company’s pipeline in the Southwest, including six projects with 300 MW of solar and over 2 GWh of storage.</p>
<p>Last September, the company invested in solar photovoltaics and batteries and closed the acquisition of a 73 MW solar power project through its renewable platform in Chile and South America.</p>
<p>Atlantica’s net loss for 2022 had <a href="https://www.mercomindia.com/atlanticas-q4-revenue-drops-17-yoy" target="_blank" rel="noopener">narrowed</a> to $5.4 million from $30 million YoY. The company posted a total revenue of $1.1 billion, down 8% from $1.2 billion YoY.</p>
<p>In December,  the Competition Tribunal conditionally <a href="https://www.mercomindia.com/funding-and-ma-roundup-belectric-acquired-elevion" target="_blank" rel="noopener">approved</a> the proposed merger whereby Atlantica Sustainable Infrastructure intends to acquire the employees of Abengoa, South Africa, and the<strong> </strong>assets of solar company Kaxu CSP. The primary acquiring firm is Atlantica South Africa Operations, an indirect subsidiary of Atlantica. Atlantica conducts activities in South Africa through Kaxu Solar One.</p>


Atlantica’s Q1 Revenue from Renewables Segment Drops 5% YoY


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					</table><p><a href="https://www.atlantica.com/web/en/" target="_blank" rel="noopener">Atlantica Sustainable Infrastructure</a>, a UK-headquartered sustainable infrastructure company, posted a revenue of $244 million in the fourth quarter (Q4) of the financial year 2022, a year-over-year (YoY) decrease of 10% from $271.3 million.</p>
<p>The company owns a diversified portfolio of contracted renewable energy, storage, natural gas, power transmission, and water assets in North and South America and other regions.</p>
<p>The company’s renewable energy portfolio grew to 2,121 MW in 2022 from 2,044 MW in 2021.</p>
<p>The firm’s revenue from the renewables segment stood at $168.6 million, down by 17% from $202.7 million in the same quarter of last year due to a slump in generation.</p>
<p>Generation from renewable sources fell by 3% YoY to 1,164 GWh in Q4.</p>
<p>The company’s net profit for the period came in at $4 million against a net loss of $11.9 million in Q4 2021.</p>
<p>The financial expenses for the October-December quarter decreased 4% at $86 million compared to $89.4 million in the same quarter the previous year.</p>
<p>The Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) totaled $166.4 million for Q4, down by 13% YoY.</p>
<p>The renewables EBITDA amounted to $118.1 million, down by 15% YoY.</p>
<p><strong>Full Year 2022</strong></p>
<p>Atlantica’s net loss for FY 2022 narrowed to $5.4 million from $30 million in the previous year.</p>
<p>The company posted a  total revenue of $1.1 billion, down 8% from $1.2 billion in the previous year.</p>
<p>The renewables revenue stood at $821.4 million, down by 12% YoY even as the production increased by 15% to 5.3 GW during the year.</p>
<p>Atlantica posted a total EBITDA of $797.1 million, down by 3% from $824.3 million in the previous year. Renewables EBITDA for the year fell by 2% YoY to $588 million.</p>
<p>Atlantica Sustainable Infrastructure’s renewable business <a href="https://mercomindia.com/atlanticas-renewables-business-8-54-yoy-in-q3-2022/" target="_blank" rel="noopener">recorded</a> a revenue of $232.42 million in the third quarter of 2022, a decrease of 8.54% YoY from $254.13 million.</p>
<p>The company’s renewable energy production and battery storage systems <a href="https://mercomindia.com/atlantica-renewable-business-revenue-dips/" target="_blank" rel="noopener">totaled</a> 1.9 GWh in the first quarter, an 80.5% from 606 GWh in Q1 2021.</p>


Atlantica’s Q4 Revenue From Renewables Segment Drops 17% YoY

<p>Sustainable infrastructure company <a href="https://www.atlantica.com/web/en/" target="_blank" rel="noopener">Atlantica</a>, which manages and invests in renewable energy, reported first-quarter (Q1) revenue of $247.5 million, a year-over-year (YoY) decline of 7.6% from $268.1 million in the same period last year.</p>
<p>Atlantica&#8217;s adjusted Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) totaled $173.6 million, a minor YoY increase of 1.4% from $171.2 million in Q1 2021.</p>
<p>The net cash of Atlantica from operating activities amounted to $137.31 million in Q1 2022, a YoY decline of 6.6% from 147.15 million in the same period a year ago.</p>
<p>The company recorded a revenue of $182.10 million from its renewable business in Q1, a YoY fall of 8.7% from $199.67 million in the same period last year.</p>
<p>In Q1, Atlantica&#8217;s renewable energy production along with battery storage systems totaled 1.9 GWh (1,094 MWh), a record YoY surge of 80.5% from 606 GWh in the previous year.</p>
<p><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-34809" src="https://mercomindia.com/wp-content/uploads/2022/05/Picture1-2.png" alt="" width="800" height="554" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/05/Picture1-2.png 800w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/05/Picture1-2-300x208.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/05/Picture1-2-768x532.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/05/Picture1-2-650x450.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/05/Picture1-2-624x432.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/05/Picture1-2-600x416.png 600w" sizes="(max-width: 800px) 100vw, 800px" /></p>
<p>The company operationalized renewable energy projects of about 2 GW in Q1, a YoY increase of 28.5 from 1.5 GW in the same period a year ago. Solar contributed approximately 71% to the overall renewable energy produced in the first quarter, while renewable production alone contributed 77% to the overall revenue of Atlantica in Q1 2022.</p>
<p>The company recorded a net loss of $12 million, a YoY fall of 37% compared to $19.1 million in the previous year&#8217;s first quarter.</p>
<p>Referring to the investments and acquisitions in the quarter, the CEO of Atlantica, Santiago Seage, said, &#8220;In the first months of 2022, we have closed or earmarked investments between $140 million and $150 million, including the $57 million in acquisitions. That includes the 63-mile transmission</p>
<p>line we discussed last quarter and two small PV assets in Italy. Additionally, we have between $80 million and $90 million in closed or earmarked investments, including renewable energy projects under construction.&#8221;</p>
<p>Atlantica had <a href="https://mercomindia.com/atlantica-renewables-revenue-2021/" target="_blank" rel="noopener">recorded</a> a revenue of $271.33 million in the fourth quarter (Q4) of 2021, up 11% from $244.52 million in the same period of 2020.</p>
<p>In December 2021, Atlantica South Africa Operations, an indirect subsidiary of Atlantica, was <a href="https://mercomindia.com/funding-and-ma-roundup-belectric-acquired-elevion/" target="_blank" rel="noopener">permitted</a> the acquisition of Abengoa South Africa and the assets of solar company Kaxu CSP by the Competition Tribunal. Through the acquisition, Atlantica procured a 100 MW solar parabolic facility in the Pofadder of Northern Cape.</p>


Atlantica’s Renewable Business Revenue Dips 8.7% YoY to $182.1 Million in Q1 2022

<p><a href="https://www.atlantica.com/web/en/" target="_blank" rel="noopener">Atlantica Sustainable Infrastructure</a>, a sustainable infrastructure company that owns a diversified portfolio of contracted assets in the energy (including solar power) and environment sectors, recorded total revenue of $271.33 million in the fourth quarter (Q4) of 2021, a year-over-year (YoY) increase of 11% compared to $244.52 million in Q4 2020.</p>
<p>In a quarter-over-quarter (QoQ) comparison, the decline in revenue was 17% compared to $329.24 million in Q3 2021.</p>
<p>Atlantica’s revenue from renewables in Q4 2021 was $202.76 million, a YoY increase of 16% compared to $173.85 million registered in Q4 2020 and a QoQ decline of 20% compared to $ 254.13 million recorded in Q3 2021.</p>
<p>The adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for Q4 2021 was $190.30 million, a YoY increase of 8% compared to $175.09 million registered in Q4 2020. The EBITDA margin for Q4 2021 was 70.1%.</p>
<p>The adjusted EBITDA from the renewables business in Q4 2021 was $137.72 million, a YoY increase of 15% compared to $119.41 million registered in Q4 2020. The EBITDA margin for renewables business in Q4 2021 was 67.9%.</p>
<p>The company owns, manages, and invests in renewable energy, storage, efficient natural gas and heat, transmission lines, and water assets. Atlantica&#8217;s portfolio consists of 39 assets with 2,044 MW of aggregate renewable energy installed generation capacity, of which approximately 71% is solar. The company owns and manages operating facilities in North America, South America, and EMEA (Europe, Middle East, and Africa).</p>
<p><strong>2021 Full Year Results</strong></p>
<p>Atlantica recorded a revenue of $1.21 billion for FY 2021, representing a year-over-year increase of 19% compared to the $1.01 billion registered last year.</p>
<p>The company’s renewables vertical contributed $928.5 million towards the total revenue. The revenue from renewables rose by 23%, compared to $753 million recorded in FY 2020.</p>
<p>Net loss for the year 2021 attributable to the company was $30.1 million, compared with a net profit of $12 million for 2020.</p>
<p>The adjusted EBITDA for FY 2021 was $824.4 million, an increase of 3.6% compared to the EBITDA of $796.1 million recorded last year. The EBITDA margin for 2021 was 68%.</p>
<p>The adjusted EBITDA from the renewables business was $602.6 million, an increase of 5% compared to the EBITDA of $576.3 million recorded last year. The EBITDA margin for renewables business was 65%.</p>
<p>Growth in revenue and adjusted EBITDA resulted mainly from the recent investments in new assets, higher production in our renewable energy business, and foreign exchange differences. It was partially offset by $77.1 million negative non-cash provisions recorded in the company’s solar assets in Spain for the difference between expected and actual electricity market prices.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/03/Atlantica-Portfolio.jpg"><img loading="lazy" decoding="async" class="aligncenter wp-image-32985 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/03/Atlantica-Portfolio.jpg" alt="Atlantica Portfolio" width="1497" height="1129" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/03/Atlantica-Portfolio.jpg 1497w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/03/Atlantica-Portfolio-300x226.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/03/Atlantica-Portfolio-768x579.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/03/Atlantica-Portfolio-650x490.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/03/Atlantica-Portfolio-624x471.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/03/Atlantica-Portfolio-600x453.jpg 600w" sizes="(max-width: 1497px) 100vw, 1497px" /></a>The company produced 4,655 GWh of renewable energy in 2021; this figure was 3,244 GWh in 2020. Atlantica’s portfolio of renewables assets rose to 2,044 MW in 2021, compared to 1,551 MW in 2020.</p>
<p>Production in the renewable energy portfolio increased by 43.5% in 2021 compared to 2020, mainly due to better solar radiation in Spain and higher output at Kaxu. Production decreased primarily due to lower solar resources in Arizona and ongoing works in Solana in the US. Wind resource was lower than expected in the company’s wind assets in the U.S. and Uruguay.</p>
<p>In December 2021, the Competition Tribunal had <a href="https://mercomindia.com/funding-and-ma-roundup-belectric-acquired-elevion/" target="_blank" rel="noopener">conditionally</a> approved the proposed merger whereby Atlantica intended to acquire the employees of Abengoa South Africa and the assets of solar company Kaxu CSP. Atlantica conducts activities in South Africa through Kaxu Solar One. This subsidiary has a 100 MW solar parabolic facility in Pofadder, in the Northern Cape, known as the Kaxu Facility.</p>
<p>In April 2021, Atlantica <a href="https://mercomindia.com/project-finance-brief-baywa-re-secures/" target="_blank" rel="noopener">announced</a> that it had reached an agreement to acquire a 49% interest in a 596 MW portfolio of four wind assets located in Illinois, Texas, Oregon, and Minnesota. Atlantica’s initial investment is expected to be approximately $196.51 million.</p>


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