Acciona
Acciona is a Spanish multinational company, with presence in more than 60 countries, created in 1977 after the merger of three spanish companies working in the construction sector (railways, roofing and water). It is based in Madrid and works in the development and management of infrastructures for the water, construction and industrial sector, with a special focus on renewables. It brands itself as champion in sustainable business strategies and as a leader in the transition towards a low-carbon economy, which looks for social and environmental benefits beyond economic profits (XXV). Desalination is included in Acciona’s portfolio of sustainable infrastructure solutions to guarantee water access, as the company works in the management of all the processes form the water cycle (XXVI).
Acciona is included in the IBEX 35 group, which is a guiding index in the Spanish stock market. During the 2008 crisis, in December 2012, the company bought the contract of ATLL, the water supply company in Barcelona, for 1 billion euros. Following Abgar’s appeal to court due to the irregularities in the tender contest, on June 23rd, 2015, the Superior Court of Justice of Catalonia’s sentence declared null the transfer of ATLL to Acciona. Later, on February 2nd, 2018, the Spanish Supreme Court confirmed the Superior Court of Justice of Catalonia’s sentence for the annulment of the contest to Acciona and overturned the transfer of ATLL to Acciona. In the end, the Generalitat canceled the concession to Acciona and began the liquidation of the contract by ATLL.
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This continuation of the titanic war between multinational water utility companies highlights again how water, in the dominant Spanish Hydraulic paradigm, has been mercantilized. Caixa Bank (owner of Agbar) Acciona, two companies part of the most powerful stock market reference in Spain, the IBEX 35, show profound economic interest in the control of the water supply and distribution network in Barcelona, including the desalination plant. Once again this demonstrates the financialization process of the water sector in the country, which is rooted in broader, global economic forces.
During our interview, Lluís Ballesteros from AMAP explained:
“We see the interest of the great powers [referring to Acciona-Agbar legal battle]. Water is not a human right, but a commercial asset”.
Acciona invests in water and desalination