Asset Management Policy
Atlantica is a sustainable infrastructure company. Our business is to own, manage and operate sustainable assets in a sustainable way. As such, asset management is the core of our business. Asset management involves health and safety (H&S), environmental matters, compliance, operation and maintenance, financial, economic and other practices applied to the physical assets.
At Atlantica, Asset Managers manage day-to-day activities of each of our assets and report to Vice-Presidents, who have full responsibility and accountability for the assets they manage. Additionally, there is an Operations team that supports Asset Managers and audits the assets’ operational, H&S and environmental performance and implements best practices. The Internal Audit department audits the asset records, processes and procedures.
We are committed to efficiently and effectively managing our assets, maximizing asset performance and promoting positive impacts in local communities while minimizing risks and negative impacts to the environment, workforce and contractors. In some cases, we operate and maintain our assets directly and in other cases we use third parties for those functions.
Excellence and Efficiency is one of our core values. We believe in outstanding and disciplined asset management of our operations while seeking excellence on a cost-efficient manner. As such, we are committed to:
- Promote and maintain a zero-accident policy. Develop new initiatives and implement world class safety standards in Health and Safety in all operating assets.
- Enforce safety procedures through annual audits and inspections, identifying hazards, developing prevention strategies, analyzing deviations and implementing corrective plans.
- Comply with laws, regulations and permit requirements and with our internal policies in all areas where we operate.
- Maintain annual emergency drill plans to evaluate and improve emergency procedures.
- Maintain emergency plans in-place at our assets with an evaluation of potential emergency scenarios and the associated emergency procedures.
- Investigate potential incidents to identify root causes and to implement corrective measures.
- Have our key equipment subject to predictive, preventive, and corrective maintenance to maximize performance while minimizing risks.
- Maintain key performance indicators and periodically monitor such indicators.
- Manage risks:
- Identify, measure, quantify, cover and monitor our risk exposure and take all the necessary actions to mitigate or reduce such risks.
- Disclose risk identification and mitigation measures.
- Continue identifying best practices and implement them appropriately.
- Disclose asset management objectives.
- Maintain a formal asset management plan.
- Periodically audit our assets including all relevant matters relating to operation, maintenance, health & safety, environment and financial matters.
- Foster continuous improvement.
- Manage suppliers according to Atlantica’s suppliers code of conduct.
- Provide periodic training to our employees and O&M contractor’s employees to improve their skills as well as a talent retention and development measure.
- Perform periodic analysis to optimize capex and opex needs.
The monitoring and accomplishment of this Asset Management Policy is reviewed by senior management in the Business Committees.