Acciona has been awarded the contract for the construction and operation over the next 25 years of three water treatment plants in Saudi Arabia. They will have a total capacity of 440,000 cubic metres per day and will serve a population of 2.1 million. This news is further proof that Acciona is not only made up of its listed renewable subsidiary, but also has profitable businesses within the Group.
Ferrovial and Acciona have been awarded the central section of the Sydney Metro West line in New South Wales (Australia). The project is valued at A$1.96 billion (equivalent to approximately 1.24 billion euros).
It is one of the most important projects in the state. As part of the project, the Acciona Ferrovial joint venture will create 1,000 new jobs, in addition to providing 500 training positions for the local community.
T.C. | Acciona approved yesterday the spin-off of its green energy subsidiary, Acciona Energía, in order to float up to 30% of the capital of this subsidiary, which the press and some Spanish analysts want to value at 12 billion euros, although on 31 March Acciona’s capitalisation on the Spanish stock market was “only” 8 billion euros. The deal could allow Acciona to reorganise and reduce its debt, which currently stands at 6.858 billion euros, of which 2 billion euros matures this year.
Acciona has publicly confirmed its rating from the Canadian agency DBRS. This is a rating that the Spanish firm has had since 2018 for various specific operations in different regions, mainly in North America, but which it has so far not released. Acciona does not have ratings from the main rating agencies. However the company believes that the flexibility of the sector analysis offered by DBRS allows it to more reliably reflect the joint risk of Acciona’s various businesses.
Spanish watchdog CNMV has confirmed the agreement between Acciona, the Brazilian consortium Move and the State of Sao Paulo regarding the transfer of the city’s subway line concession to the Spanish firm. This project was withdrawn from Odebrecht in 2016 and is one of the largest in Brazil’s concession sector.
The Hong Kong Water Supplies Department has selected a consortium including Acciona to design, build, operate and maintain the first phase of the Tseung Kwan O desalination plant. The project, worth HKD9.018 billion (€1.042 billion), includes the construction and operation of the plant for a duration of ten years. The facility will equip the city to face the challenges of climate change and the low level of rainfall in the area.
Santander Corporate & Investment | We have revised our valuation and forecasts for Acciona (ANA) (Underweight, TP 96.00)
Acciona has won two contracts for maintenance of Canadian roads, which means taking responsibility for 4,200 km of carriageways in the province of British Columbia for 10 years for 235 million euros.
Acciona will construct a desalination plant in Saudi Arabia with a daily capacity of 210,000 cubic metres, having won the contract worth more than 200 million euros with the Saudi public company Saline Water Conversión Corporation (SWCC).
Utilities in Europe have made a sudden stock market comeback since late July, after performing well in May, underpinned by strong Q1 earnings and some speculation about possible further consolidation in the industry. Q2 results have also been solid and fuelled earnings upgrades.