Welcome to Atlantica's Full Year 2022 Financial Results Conference Call. Atlantica is a sustainable infrastructure company. Just a reminder that this call is being webcast live on the Internet, and a replay of this call will be available on Atlantica's corporate website. Atlantica will be making forward-looking statements during this call based on the current expectations and assumptions, which are subject to risks and uncertainties. Actual results could differ materially from our forward-looking statements if any of our key assumptions are incorrect or because of other factors discussed in today's earnings presentation or because of other factors discussed, including the Risk Factors section of the accompanying presentation and in our latest reports and filings with the Securities and Exchange Commission, all of which can be found on our website. Atlantica does not undertake any duty to update any forward-looking statements. Joining us for today's conference call are Atlantica's CEO, Santiago Seage, and CFO, Francisco Martinez-Davis. As usual, at the end of the conference call, we will open the lines for a Q&A session. I will now pass you over to Mr. Seage. Please, sir, go ahead. Thank you very much. Good morning, thank you everybody for joining us for our 2022 conference call. I will start with a few key messages. In 2022, revenue and adjusted EBITDA increased by 2.9% and 1.5%, respectively, on a comparable basis. At the same time, cash available for distribution increased by 5.5% year-over-year, reaching $238 million. Net cash provided by operating activities in 2022 was $586 million, a 16% increase compared with 2021. With those results, we are initiating our 2023 CAFD guidance in the range of $235 million-$260 million. In terms of investments growth, we have already committed or we have earmarked investments representing for 2023 between $165 million and $185 million. With those key messages in mind, I will now turn the call to Francisco, who will take you through the results. Francisco, whenever you want. Thank you very much, Santiago. Good morning to everyone. Please turn to Slide 5, where I will present our key financials for full year 2022. Revenue reached $1,102 million, which represents a 2.9% growth on a comparable basis, excluding the effects of the non-recurrent solar project that we discussed last year and foreign exchange. Adjusted EBITDA amounted to $797 million, representing an increase of 1.5% on the same comparable basis. Regarding cash available for distribution, we generated $238 million for the full year 2022, an increase of 5.5% year-over-year. On the following Slide 6, you can see our performance by geography and business sector. In North America, revenue increased by 2% to $405 million in the full year 2022, mainly due to the contribution from the recently acquired assets. In South America, revenue increased by 7% compared to 2021, up to $166 million, and EBITDA increased 6% up to $126 million. The increase was mainly due to the assets acquired during the period and to inflation mechanisms. Revenue and EBITDA in the MEA region, excluding the foreign exchange impact and the non-recurrent effect mentioned previously, both increased by 2% in 2022. This was mostly due to higher production and inflation indexation in Kaxu, as well as higher electricity prices in Spain. Looking below at the results by business sector, we can see similar effects. Let's please turn to Slide 7, where we will review our operational performance. Electricity produced by renewable assets reached 5,319 GWh in the full year 2022, an increase of 14% versus the same period of 2021. The increase was largely due to the contribution of assets recently acquired. Looking at our availability-based contracts, once again, ACT continues to show solid performance. In water, availability in 2022 was higher than 2021, with very good performance in all the assets. Our transmission lines continue to achieve high availability levels. Let's move to Slide 8 to walk you through our cash flow for the full year 2022. Our operating cash flow reached $586 million, a strong 16% increase compared to the full year 2021. This increase was mainly due to an improvement in changes in working capital of $82 million, mostly a result of better collections in ACT and better collections in Spain. Investing cash flow for the full year 2022 mainly includes investments in new assets and the distributions received from entities under the equity method. Financing cash flow was $535 million, and it mainly includes the scheduled principal repayment of our project finance agreement for $426 million, and dividends paid to shareholder and non-controlling interest for $242 million. On the next slide, number nine, we would like to review our net debt position, which has decreased significantly compared to 2021 year end. Net debt as of December 31st, 2022 was $4,013 million, a decrease of approximately $500 million versus December 31st, 2021. In addition, we closed the full year 2022 with a net corporate debt of $956 million. With this, our net corporate debt to CAFD pre-corporate debt service ratio stood at 3.4 times. Moving on to the next Slide 10. In 2022, we have also made good progress on the ESG front, and our efforts continues to be recognized. In November 2022, Atlantica was ranked number one globally on the GRESB's infrastructure public disclosure rating. In December 2022, we were included for the second consecutive year in CDP's A List, achieving the highest score environmental transparency and action in relation to climate change. In January 2023, we were ranked for the third consecutive year by Global 100 among the world's 100 more sustainable corporations. In January 2023, Atlantica was included for the third consecutive year in the Bloomberg Gender-Equality Index. Finally, in February 2023, Atlantica was included for the second consecutive year in the S&P Global Sustainability Yearbook. With this, I will turn the call back over to Santiago. If we talk now about growth and investments, we can see on page 12 that we have already committed or earmarked equity investments for 2023 in a range between $165 million and $185 million. These investments include the construction of our first battery storage plant located inside our Coso geothermal plant in California, which we recently announced. Includes as well several PV assets in our key geographies, as well as the expansion of two of our transmission lines. Additionally, we include other investments where you will find storage projects in several locations, plus our first hydrogen project. This is a 10-megawatt PV facility with a hydrogen manufacturing facility as well, that recently won a grant in Europe, in Spain, specifically. We expect this to be our first hydrogen project. If we look on page 13 at our pipeline, beyond 2023, what you can see there is following the discussions we have been having over the last quarters regarding the fact that Atlantica is, we expect Atlantica to grow more through development and construction of assets we have developed. You will see that we currently have a pipeline of assets under development of approximately 2 GW of renewable energy and over 5 GWh of storage. This includes both repowering or expansion opportunities within the existing portfolio, as well as greenfield development done by Atlantica or in collaboration with partners in the different geographies. As you will see, our pipeline consists mostly of PV, storage, and wind projects, and is mainly focused on North America, intending to leverage the IRA. Finally, if we look at the last page, our 2023 target guidance, we expect CAFD to be in the range of $235 million-$260 million, and we expect adjusted EBITDA to be in the range of $790 million-$850 million. With that, I conclude today's presentation. Thank you very much for joining us. Operator, we will now open the lines for questions, please. Thank you. If you would like to ask a question, please press star followed by one on your telephone keypads. If you change your mind, please press star two. Please stand by while we order today's Q&A roster. We have our first question on the line from David Quezada of Raymond James. Your line is open. Good morning. Thanks. Hi, everyone. C ertainly appreciate the new disclosures on the development pipeline. Santiago, w ondering if there's any color you can share just in terms of the pace of how those projects will be developed and any key milestones you can share on projects that are in that development pipeline. Sure. Good morning, David. As you will see in that disclosure, Atlantica has been building over the years that pipeline and is working on continuing to build that pipeline. We believe that for a company like us, it makes sense to grow combining development of projects, in many cases with partners together with acquisitions. Regarding our current pipeline, you have it broken down between shorter-term projects where we expect to reach ready to build this year or next year, and projects that are in an earlier development phase. As you will see there, our development pipeline is fairly young, so a significant percentage of those projects are still in what I would call early stages. We do believe that over the foreseeable future, we are going to be able to feed ourselves, if you want, to build these projects. They will represent a significant percentage of the investments we will be doing every year. It won't be the only source of growth, but we expect to be a significant part of our growth going forward. Excellent. Thanks for that. Maybe just a follow-up here or thoughts around your funding plan and asset recycling. Do you see your business model eventually trending towards a company that is maybe selling operational assets or a stake in operational assets and using that to fund an ongoing development pipeline? We will obviously consider all options when deciding how to finance growth. Obviously, if the conditions are the right ones, what you're mentioning could be one of the ways to finance the pipeline going forward. It won't be the only one, and Francisco, as the CFO, will obviously be looking at all the alternatives. At this point in time, our leverage ratios are, we believe, more than reasonable. We will obviously be analyzing all options, including the one you mentioned. Excellent. Thanks for that. I'll get back in the queue. Thank you, David. Thank you. Our next question comes from Angie Storozynski of Seaport. Your line is open. Good morning, guys. Maybe first on the strategic review, I mean, what are you trying to achieve? Ob viously, the stock has struggled, but is it just an attempt to facilitate an exit for your larger shareholder? Is it basically an attempt to find a strategic partner? Again, w hat are we trying to achieve? Good morning, Angie. I obviously won't be able to be too specific because if we wanted to be specific, we would have released something more specific. At this point in time, the board has decided to start a strategic review and analyze a number of options, broad, in order to maximize value. As you could see in the announcement, this process has the support of Algonquin as the largest shareholder. We need to leave the board to identify all those options, work through the options, and get to a conclusion. I won't be able to be very specific because we just started this process. As you know very well, in a strategic process, you typically analyze a wide range of alternatives. Okay. Secondly, all of the projects that you show that are either under construction or are about to be under construction, when should I expect them to start contributing to your EBITDA and CAFD? Basically, what's the construction cycle for these assets? Yes. Typically, construction cycles for these assets are fairly short, and a lot of what we are doing as you can see there is PV and storage, which depending on the size, configuration, and so on, but probably you can be talking about a year, a bit less, a bit more depending on each project. That's typically the how long it would take you to go through construction. After construction, they should be able to start contributing to CAFD fairly soon. Okay. Lastly, I don't see any comments about a longer-term CAFD per share growth. I'm just wondering, is it a function of the pending strategic review, or has there been a change in your outlook o n your potential growth? It is, Sandy. It's the review? No. Okay. It is h aving us do that review, we thought that we would need to wait for that to be over before sharing midterm guidance. Okay. The last one. What is the effects ratio or exchange ratio embedded in your CAFD guidance for 2023 for euro versus dollar? Yes. As you know, w e typically work with a range, and therefore, it would be a range around where the exchange rate is today, more or less. Today or yesterday, at least it was around EUR 1.06. Okay. We have a certain cushion, let's say, around that number. Okay. Thank you. Thanks. Thank you. We now have Mark Jarvi of CIBC Capital Markets. Your line is now open. Thank you. Good morning, everyone. Just in light of the strategic review, just wondering, Santiago, what that means in terms of willingness or capacity to pursue M&A driven growth? Could you still do small tuck-in deals? I assume maybe larger transactions are off the table for now. As we mentioned in the announcement of a strategic review, and we were explicit about that, the company will continue with its current plan. Call it the typical $300 million equity investment target that we typically have every year. Our intention is to work towards that, and that would be a combination of, let's say, construction of projects we have developed like the ones we talked about earlier today, plus M&A if we find the right opportunities. The typical or let's say our strategy does not change because of a strategic review. We will continue working as normally, at least until the review is over. Okay. What about in terms of dividend and dividend increases, would there be a pause while you initiate the strategic review o r is that something as CAFD rolls through with incremental growth and performance, you could continue to increase the dividend this year? Sure. Yes. Our current strategy has not changed because of the fact that we are doing a review. As the dividend is a decision to be taken by the board every quarter. Our current policy continues being the same to have a an 80% payout ratio. Obviously depending on CAFD, but no change there because of the review. Okay. We want to make sure that the review will continue operating and working exactly the same way. Understood. In terms of the incremental growth from what was announced last quarter, what's new this quarter versus prior Q3 disclosure? T he coastal batteries were discussed, some of the PV stuff was discussed. Maybe in terms of the incremental growth, can you comment in terms of where returns are trending for you guys in terms of the newest investments you're looking at? Sure. You look at, let's say, the projects we have discussed today, some of them we announced them last quarter and others are new, including some of the PV projects, some of the storage, plus the a smaller hydrogen project I mentioned as well. In terms of returns, probably we haven't seen a significant change in the last few quarters. Interest rates went up, it took the market a bit of time to adjust to that new reality. For somebody like us today, we think that returns are reasonable, given where cost of capital is, both for projects we develop and build and on the M&A front, as we have always done, we will close transactions if we believe that the numbers make sense. In response to your comment about higher interest rates, you have not changed your hurdle rates, particularly just you're being able to pass through the higher debt cost? Is that what you're implying? What I'm implying is that, in our case, our hurdle rates, when we invest, get adjusted automatically, because of the way we work. What we are saying is that, yes, we believe that we are going to be able to maintain the spread that we have typically maintained in the past. Okay. Fit in one last question. You did go through a strategic review a couple years ago. I'm sure the circumstances are different and there's different obviously backdrop today. Through that experience, what disruptions did that cause for your organization, and how can you protect this time as you go through a strategic review? Yes. That was four years ago, we think that we are able to go through something like this without affecting the day-to-day business, maybe that experience also helps. As I mentioned before, our intention is to continue managing the business, doing our investments, paying our dividends, following our current strategy, if you want, while we do the review. We think we can do both things at the same time. Okay. Thank you. Thank you. Your next question comes from William Griffin of UBS. You may proceed. Thanks very much. Good morning. My first question is just more of a clarifying question. Between the committed investments you're showing on Slide 12 and then the pipeline on Slide 13, is there any overlap between those two, or should I just think about them being completely independent? They are independent. Very good. Okay. Curious, just to hear a bit more on the hydrogen project that you disclosed here in the committed investments. Where is that? S hould we think about that being more of a pilot project, and who's the offtaker to the extent you can talk about it? Thank you. Sure. Hydrogen is an area where we believe that there will be significant opportunities. At the same time, given our risk profile, we are going, and we have been talking about this for the last few quarters. Our intention is to enter hydrogen in smaller incremental projects versus coming up with some huge investment, like some other companies are doing. This is our first project in hydrogen. As I said, it's a 10 megawatt facility including PV and electrolyzer and some additional equipment. It is in Spain and the project very recently obtained a grant, European Union- driven innovation grant that should make the project viable. At this point in time, we are negotiating the offtake agreement. I will not be specific because the negotiation is not over. Nevertheless, now that we were able to secure that grant, we think that the project is going to be viable, and we should be able to close an offtake agreement at some point in time in the next few quarters, and we will be updating you regarding that. We are working on other hydrogen projects, and we do expect to do more than this one. Again, with an approach where we do a number of smaller projects where we manage the risk-return profile of this technology. Great. Appreciate the color. Best of luck. Thank you. We now have Julien Dumoulin-Smith of Bank of America. Hi, this is Morgan Reed actually on for Julian. Was curious if you could all talk a little bit about the comfort that you feel in hitting that $300 million annual investment target, that long-term average. That's outstanding. Appreciate the comments around the $165 million-$185 million already committed for 2023, just would like to understand where you think the remaining pieces of growth may come. I appreciate the earlier comments on acquisitions and early-stage success with the internal development. Just curious how you're thinking about that. Sure. At this point in time, early March, we are confident about the 300 number. That's probably our average. If you take a number of years, that's what we have done on average for the last few years. The remainder between the number we share with you and the 300 should be a combination of additional projects that we are developing that we might be bringing to the finish line this year plus some acquisitions. Typically, again, if you look at us, over the years, we have typically been able to close acquisitions in some of our geographies, and this year that would be our plan, again, assuming that we can close acquisitions with the right numbers. As of today, early March, we are confident that we should be able to hit a number close or above the 300. Great. That's really helpful. J ust lastly, as we start to branch into storage as a increasing portion of the portfolio here, I was just curious if you could talk us through how you think about contracting those storage assets, the risks you're willing to take there, and the interest that you might have in the mix of your portfolio going forward, where you think storage might go in terms of its proportion of the mix. That would be helpful. Sure. We think that storage is going to be a key part of the solution in regarding energy transition, and we start to see in a number of geographies in that storage plays a very important role. We can talk about some states in the U.S., including California, for example. We can talk about locations with a high penetration of solar PV, where now you need storage to do what natural gas used to do. Therefore, we believe that it will be a significant part of our growth and of any company that is doing renewable energy. In our case, the way we want to do storage is obviously different by geography, but in general, the common theme should be partially contracted or partially regulated with depending where you are. We are not looking at situations where we would go only merchant and totally merchant, but we are willing to do projects where part of your revenues are guaranteed through a contract or through regulation, and part of the revenues depend o n merchant revenues, because that's what storage does well. Move production from certain hours in the day to other hours where prices are higher. Knowing that our current portfolio is 99% or 98% contracted, we believe that in storage, we can do that combination of contracted as less regulated on some merchant revenues. Great. Thank you. I'll take the rest offline. Great. Thank you. Thank you. We now have Nelson Ng from RBC Capital Markets. Please go ahead. Great, thanks. Just a quick follow-up on an earlier question. In terms of the hydrogen projects, should we assume that the other hydrogen projects you're working on are also in Spain? In hydrogen, we are working in a number of geographies, but mostly at this point in time, it's Spain and the U.S. Okay, thanks. Just on your development pipeline, do you anticipate getting any or bringing any strategic or financial partners to build out the pipeline? Following up a question we had earlier today, and that's something we need to look at how we are going to finance our growth pipeline. We will need to look at all the options, including, in some cases, bringing partners or not bringing partners or divesting assets or in general, how to finance. It's going to depend a lot on the options that we can have in front of us. Okay. Just one last big picture question on your EBITDA and CAFD guidance. Other than the new projects added to the portfolio, are there any material swings in EBITDA or CAFD from any specific projects or asset classes to highlight? No. T ypically, l et's say, if you look at the lower versus the higher range, the difference is typically how well the projects will perform, depending on whether the sun is shining and the wind is blowing or not. A bit of exchange rate, when you look at the EBITDA, not on the CAFD side because it heads. The incremental new projects, how quickly they come online or when do we close new investments. Those are probably the biggest swings there. Nothing huge anywhere. Okay, thanks. We'll leave it there. Thank you. As a reminder, it is star one to ask any more questions today. I would like to close the Q&A session and hand it back to Santiago to say some final remarks. Okay. Thank you very much, everybody, for attending our call. Thank you. Thank you. Thank you all for joining. That does conclude today's call. Please have a lovely day. You may now disconnect your line.