Corporacion Acciona Energias Renovables SA

ANE: XMAD (ESP)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€21.00	Tgdc	Clhfxppxm

Power Prices, Rising Financial Costs Will Hit Acciona Energia's Earnings

Tancrede Fulop

Jan 26, 2023

Business Strategy and Outlook

A renewables developer, Acciona Energia was spun off from Spain industrial conglomerate Acciona in July 2021. The floating share is 17.3%. The rationale of the IPO was to revive capacity growth that had been subdued since a 2013 regulatory change in Spain drove a sharp cut in renewables' returns.

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