ATLANTICA SUSTAINABLE INFRASTRUCTURE PLC Integrated Annual Report 2022
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Content
About This Report | 6 |
Strategic Report | 12 |
Our Sustainable Business Model and Strategy | |
.......................................................................................... | 12 |
Events During the Period | 21 |
Key Performance Indicators | 32 |
A Fair Review of the Business | 36 |
Financial Review | 41 |
Principal Risks and Uncertainties | 62 |
ESG Materiality Analysis | 90 |
Environmental Sustainability | 96 |
Social Sustainability | 131 |
Asset Management | 167 |
Innovation Management | 171 |
Cybersecurity and Data Privacy | 172 |
Tax Management | 175 |
Section 172 Statement | 178 |
Going Concern Basis | 184 |
Governance | 186 |
Business Ethics | 186 |
Sustainability Governance | 191 |
Directors' Report | 196 |
Audit Committee Report | 217 |
Directors' Remuneration Report | 224 |
Directors' Responsibilities Statement | 249 |
Shareholder Engagement | 251 |
Other Information | 253 |
Asset Portfolio | 253 |
Definitions | 256 |
Reconciliations | 262 |
Global Reporting Initiative (GRI) Content Index | |
....................................................................................... | 264 |
Sustainability Accounting Standards Board | |
(SASB) Index | 274 |
Environmental, Social and Other Key | |
Performance Indicators | 277 |
Independent Auditor's Report | 289 |
Consolidated Financial Statements | 303 |
Company Financial Statements | 392 |
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Atlantica in Two Minutes
Our Business
2,121MW
Of renewable generation (~73% solar)
75% Renewable1
25% Other sustainable infrastructure assets including storage, natural gas, transmission lines and water assets
1,229miles | 398MW | 17.5Mft3/day | |||||||
of Efficient Natural | of water capacity | ||||||||
Gas & Heat | |||||||||
41 | 14 years | 11 Countries | |||||||
Stable 100% | Weighted average | North America, South | |||||||
contracted or | contracted life | America and certain | |||||||
EMEA regions | |||||||||
regulated assets2 | remaining3 | ||||||||
2022 Selected Financial and Operational Metrics
Revenue
$1,102 Million
- 2.9% vs 20214
Adjusted EBITDA5
$797 Million
- 1.5% vs 20214
CAFD5
$238 Million
- 5% vs 2021
Operating Profit
$278 Million
- 21% vs 2021
Net Cash provided by | CAFD per share |
Operating activities | $2.07 |
$586 Million | ▲ 2% vs 2021 |
▲ 16% vs 2021 |
Renewable
Energy6
5,319 GWh Produced
- 14% vs 2021
Other Sustainable Assets7
100% availability
Dividends Paid per Share8
$1.77
- 3% vs 2021
- Based on Revenue for the twelve month period ended December 31, 2022.
- Regulated revenues in Spain, Chile TL3 and Italy and non-contracted nor regulated in the case of Chile PV 1.
- Calculated as weighted average years remaining as of December 31, 2022 based on CAFD estimates for the 2023-2026 period, including assets that have reached COD before March 1, 2023.
- Compared to the year 2021, on a constant currency basis and adjusted for the consolidation of a non-recurrent Rioglass solar project in the year 2021.
- We refer to "Other Information- Reconciliation of non-GAAP measures" section.
- Includes curtailment in wind assets for which we receive compensation.
- Availability refers to the time during which the asset was available to our client totally or partially divided by contracted or budgeted availability, as applicable.
- Sum of the dividends per share paid to shareholders in 2022.
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Our Values
Integrity, Compliance and Safety
Value Creation
Sustainability
Excellence and Efficiency
Collaborative Environment
Enabling the Energy Transition
Science Based Targets initiative (SBTi) approved target:
Reduce Scope 1 and 2 GHG emissions per kWh of energy generated by 70%
by 2035 from a 2020 base year
NEW
Targets
- Reduce Scope 3 GHG emissions per kWh of energy generated by 70% by 2035 from a 2020 base year
- Achieve Net Zero GHG emissions by 2040
- Reduce non-GHG emissions per kWh of energy generated by 50% by 2035 from a 2020
- Reduce our water consumption per kWh of energy generated by 50% by 2035 from a 2020 base year
GHG Emissions | |
Key | Avoided |
KPIS | 6.9 million tons of |
CO2e | |
▲ 17% vs 2021 |
GHG Emissions Offset
320 thousand tons of CO2e
- 23% vs 2021
Scope 1&2 emission rate per unit of energy generated
168 tons of gCO2/kWh
Improved 9% vs 2021
2022 Selected Social Metrics | |
Employees | 80% Men |
978 people | 20% Women |
▲75% vs 2021 | ▲37% women vs 2021 |
% Women at | Gender-Pay Gap | Local Communities | ||
Management | 13% reduction vs 2021 | $1.5 million invested | ||
23% in 2022 and 2021 | ▲15% vs 2021 | |||
Health and Safety: LTFI9 and TRFI10 below | Human Right | |||
sector average | Incidents | |||
0 in 2022 and 2021 |
- Lost Time Frequency Index (LTFI) represents the total number of lost-time accidents recorded in the last 12 months per million hours worked.
- Total Recordable Frequency Index (TRFI) represents the total number of recordable accidents with and without lost- time recorded in the last 12 months per million hours worked.
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Our Purpose and Values
Our Purpose
Our purpose is to support the transition towards a more sustainable world by investing in and managing sustainable infrastructure assets, while creating long-term value for our stakeholders.
Our Values
Our values define who we are and how we behave both as individuals and as a Company. These values, described below in order of importance, serve as a compass for our day-to-day decisions and guide our relationships with stakeholders.
Integrity, Compliance and Safety. We will always do what is right. We are strongly committed to complying with all rules and regulations.
Value creation. We pursue a proactive approach to creating long-term value for our shareholders. Our core corporate policies are supported by a solid commitment to risk management that guides all our decisions.
Sustainability. We invest in assets that are environmentally sustainable and we manage them in a sustainable manner. We follow policies that analyse, evaluate, and propose measures aimed at minimising the environmental impacts of our business activity.
Excellence and Efficiency. We believe in outstanding and disciplined asset management of our operations to be the best- in-class operator, while seeking excellence on a cost-efficient basis.
Collaborative Environment. Respect and Teamwork are key to achieving our goals. We treat others as we would like to be treated ourselves and we put the team ahead of personal success. To build strong teams, we recruit, train, and promote the best people.
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Disclaimer
Atlantica Sustainable Infrastructure plc published this content on 03 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 March 2023 11:39:02 UTC.
