Acciona

History

The company can trace its origins back to MZOV, a firm founded in 1862. In 1978 MZOV merged with Cubiertas y Tejados, a business founded in 1916, to form Cubiertas y MZOV. In 1997 the company merged with Entrecanales y Tavora, a firm founded in 1931, to form NECSO Entrecanales Cubiertas S.A.. It was subsequently renamed Acciona.

In September 2020, Acciona purchased Lendlease's Australian engineering business.

In July 2022, the company was fined €29.4 million, along with five other contractors, by the Comisión Nacional de los Mercados y la Competencia (CNMC) for bidding collusion in public tenders for building and civil infrastructure works.

Operations

The group is organised as follows:

• Infrastructure
• Energy - through Acciona Energy
• Water
• Other Businesses

Sustainability indexes

Acciona obtained the distinctive RobecoSAM Silver Class 2015 in the Electric Utilities sector under the Sustainability Yearbook 2015 for its best practices in sustainability. It has also been included in the CDP Climate Leadership Index 2014 Performance index, which lists the 187 world companies that have received the highest rating for its performance in the fight against climate change.

Major projects

Major projects involving the company include the Torre Europa completed in 1985, the Ting Kau Bridge in Hong Kong completed in 1998, the Gare do Oriente in Lisbon completed in 1998, El Museu de les Ciències Príncipe Felipe completed in 2000, the German Chancellery completed in 2001, the King Abdullah University Hospital completed in 2002, the Alqueva Dam completed in 2002, and the El Palau de les Arts Reina Sofía completed in 2005.

As part of a Public Private Partnership with the New South Wales State Government, Acciona was responsible for delivering the infrastructure for the Sydney CBD and South East Light Rail project which was completed in April 2020. Acciona is suing the government seeking $1.1 billion in additional funding, claiming the government minimized the amount of subterranean utility works that would be required.

Another Public Private Partnership has been signed with the São Paulo State Government under which Acciona undertook the construction works for and operate São Paulo Metro Line 6-Orange which is due to be partially opened in 2026.

In January 2018 Acciona signed a 100 million euros loan with the European Investment Bank. The European Fund for Strategic Investments is a European Union initiative designed to provide financial support for innovative companies. EFSI works with companies which are considered risky because their untested technologies or have products with a limited track record. Acciona will use the loan to expand its research in renewable energy, infrastructure, water and digitalisation to increase efficiency in the construction and operation of its electricity-generation plants. It will also develop sustainable biological water treatment and purification processes and develop ways to recycle waste and in building environmentally friendly infrastructure.

The company is testing prefabricated components which are lighter and less expensive to transport whilst maintaining high strength. Acciona built the first lighthouse in the world constructed of prefabricated products, in Valencia, Spain.

In August 2022, the company won a contract worth about 485 million euros for the Victoria Park-Canning Level Crossing Removal Project to upgrade the Armadale line in Perth, Western Australia. This involved eliminating six level crossings along the train line and rebuilding five stations.

Motorsport

In November 2020, it was announced that multiple-time World Rally Championship and Dakar Rally champion Carlos Sainz Sr. would team up with QEV Technologies to form the Acciona | Sainz XE Team to join the all-electric SUV off-road racing series Extreme E in the inaugural season with Sainz alongside multiple-time Women's Trial World Champion and Women's Trial European Champion Laia Sanz as the drivers line-up. The team finished in sixth and third in the teams' championship in the 2021 and 2022 seasons respectively. In the 2023 season, the team won their first race in Extreme E in Round 2 at the Desert X-Prix.

References

References

1. "FY 2021 Results. January-December.". Acciona.
2. "Acciona expands its research to stay innovative in sustainable development and renewable energy".
3. "Acciona Investor presentation".
4. (17 March 1997). "The shareholders meetings of Entrecanales and Covers approve the merger". [[El Pais]].
5. [https://www.afr.com/companies/infrastructure/acciona-builds-in-oz-with-180m-lendlease-buy-20191219-p53lfx Lendlease stuck with losers after engineering sale to Acciona] ''[[Australian Financial Review]]'' 19 December 2019
6. [https://www.acciona.com.au/updates/news/acciona-completes-the-acquisition-of-lendlease-engineering-s-ongoing-business/ Acciona completes the acquisition of Lendlease Engineering's ongoing business] Acciona 9 September 2020
7. [https://announcements.asx.com.au/asxpdf/20200909/pdf/44mgk6mcy4k4hj.pdf Lendlease announces completion of Engineering sale] [[Lendlease]] 9 September 2020
8. (7 July 2022). "Spain's six top builders fined, restricted over bidding collusion". Reuters.
9. "Overvalued relative to peers, but may deserve another look". Capital Cube.
10. "Sustainability Yearbook 2015".
11. "CDP".
12. "Torre Europa on Structurae database". En.structurae.de.
13. (18 May 1998). "Ting Kau Bridge on Structurae database". En.structurae.de.
14. "ACCIONA | BUSINESS AS UNUSUAL".
15. "El Museu de les Ciències Príncipe Felipe on Structurae database". En.structurae.de.
16. "German Chancellery on Structurae database". En.structurae.de.
17. "ACCIONA | BUSINESS AS UNUSUAL".
18. "Alqueva dam on Structurae database". En.structurae.de.
19. (27 November 2008). "Palau de les Arts Reina Sofía on Structurae database". En.structurae.de.
20. [https://transportnsw.info/news/2020/sydneys-new-light-rail-now-open-from-circular-quay-to-kingsford Sydney’s new light rail is now open from Circular Quay to Kingsford] Transport for NSW 3 April 2020
21. (2018). "Sydney light rail sub-contractor Acciona seeking $1.1 billion after claiming it was misled". ABC News.
22. Cunha, Joana. (4 July 2020). "Espanhóis assinam contrato para retomar obra da linha 6 do metrô de SP". Folha de S. Paulo.
23. "Investment Plan for Europe: EIB grants EUR 100 million loan to Acciona to boost its innovation and digitalisation strategy".
24. (30 August 2022). "Acciona, Part Of Winning Consortium For €485 Mn Contract In Australia". [[the Corner]].
25. "Acciona, Carlos Sainz and QEV Technologies team up to compete in Extreme E".
26. (2023-03-13). "Carlos Sainz's team claim long-awaited victory at Desert X Prix Round 2 in NEOM".