Atlantica Closes the Acquisition of a Transmission Line in Uruguay

Atlantica Sustainable Infrastructure Ltd announced today that it completed the acquisition of a 132-mile transmission line in Uruguay.

The transmission line has been in operation since 2019 and has a lease agreement until 2049 with UTE (Administración Nacional de Usinas y Transmisiones Eléctricas), the state-owned company responsible for the generation, transmission and distribution of electricity in Uruguay. Under this lease agreement, UTE pays a fixed tariff denominated in U.S. dollars and adjusted monthly by U.S. inflation.

Santiago Seage, Atlantica’s CEO said “This asset, which is 100% contracted and benefits from a low-risk profile, fits perfectly in Atlantica’s existing portfolio of transmission lines in the region.”

With this new line, Atlantica now has 1,363 miles of transmission lines in operation in South America. Atlantica is also currently working on the expansion of one of these assets. In Uruguay, Atlantica owns and manages solar and wind plants, with a total installed capacity of 160 MW in operation. This investment strengthens Atlantica’s long-standing relationship with a creditworthy counterparty. UTE, which is also the existing offtaker of Atlantica’s wind assets in Uruguay, holds credit ratings of BBB+/Baa1/BBB from S&P, Moody's and Fitch respectively.