Corporacion Acciona Energias Renovables SA
ANE: XMAD (ESP)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
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| ?B@ | LOCK|#? | LOCK|FJN$$tc |
Acciona Energia's Earnings Outlook Is Unappealing
Business Strategy and Outlook
A renewables developer, Acciona Energia, was spun off from the Spanish industrial conglomerate Acciona in July 2021. The floating share is 17%. 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.
