Acciona Encouraged by ‘Hot’ Water Market as Orders DoublePatricia Laya
Acciona SA, a Spanish renewable energy company, said contracts at its water management subsidiary more than doubled in 2012.
Acciona Agua SA, which treats enough water for six million people a day, said its order book grew by 137 percent to 11.3 billion euros ($14.7 billion) last year while orders at units such as construction rose by 4 percent. Acciona’s 2012 earnings fell 6.3 percent to 189.4 million euros from a year earlier.
“Water is a very hot market,” Chairman Jose Manuel Entrecanales said today in a conference call with analysts. “Water is probably the infrastructure that is going to be most demanded in the next decade.”
Based in the Madrid suburb of Alcobendas, Acciona Agua acquired a concession to privatize Barcelona’s water supply last year, which is currently pending court resolution to annul the contract by the Catalan government. Its water, desalination and wastewater works include plants in Saudi Arabia, Peru, Italy, Morocco and the United Arab Emirates. Acciona Agua results represented 3.8 percent of Acciona’s earnings before interest, tax, depreciation and amortization last year.