The Diplomat
The credit rating agency Fitch Ratings has reaffirmed the long-term rating of Corporación Acciona Energías Renovables, as well as the rating of the debt instruments issued, at ‘BBB-‘, with a stable outlook, reports Europa Press.
The decision to maintain Acciona Energía’s rating reflects, according to Fitch, the company’s “solid business profile”, geographically diversified, and with a good revenue outlook from incentivised and long-term contracted production, with a long remaining useful life.
Fitch estimates that incentivised and contracted activities will remain at around 70% of Acciona Energía’s consolidated revenues for 2022-2025, down from 80% historically, due to the loss of regulated revenues in Spain following an anticipated regulatory review in 2022.
The agency values Acciona Energía’s “ambitious growth plan”, which envisages almost doubling its consolidated capacity by 2025 to 18.1 gigawatts (9.2 GW by the end of 2021) and 5.9 billion in investment between 2022 and 2025.
