Atlas Renewable Energy completes financing of US$152 million for three PV projects in Brazil

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Atlas Renewable Energy estimates that the operation of the plants will prevent the emission of 108,000 tons of CO2 per year. Image: Atlas

Atlas Renewable Energy has completed long-term financing for three of its solar energy plants in Brazil for a total amount of US$152 million. This financing was achieved through Banco do Nordeste (BNB), backed by an equivalent sum of commercial bank guarantees from BTG Pactual, Banco ABC Brasil, and Banco Bradesco.

These three projects will have an installed generation capacity of 300MW. Each site has a 20-year PPA with the Chamber of Electricity Sales (Câmara de Comercialização de Energia Elétrica- CCEE). The combined energy generated by these three installations is expected to provide clean energy for 470,000 families annually.

Atlas Renewable Energy estimates that the operation of the plants will prevent the emission of 108,000 tons of CO2 per year.

The three projects are located in the northeast area of Brazil, with two projects located in the state of Bahia, while the other site was developed in the state of Ceará.

The São Pedro solar complex in Bahia is the first functioning operation of Atlas Renewable Energy within Brazil and has an installed capacity of 67.1MW in two secondary plants. The Juazeiro and Sol do Futuro plants are currently in the start-up phase and will be fully operational in the coming months.

Carlos Barrera, Atlas Renewable Energy CEO, said: “Brazil is Latin America's largest renewable energy market, and these three projects allow us to consolidate a strong presence in this market. We are pleased to have partnered with these strong, high-caliber financial institutions enabled in part by our team's solid track-record and expertise in development and execution.

“As a renewable energy company, we're just scratching the surface of how powerful Latin America's renewable energy sector can be when you combine it with high-quality PPAs, financing innovation, and top-tier projects.”

Read Next

December 2, 2021
‘Solar Module Super League’ member JinkoSolar has signed a 2GW module supply deal with Brazilian PV distributor Aldo Solar.
October 4, 2021
Independent power producer (IPP) Total Eren has enlisted asset management software provider Inaccess to monitor the operation of several of its solar PV plants in Argentina, Australia, Brazil, and Kazakhstan.
September 29, 2021
Microinverter supplier Enphase Energy has entered Brazil’s residential and C&I solar market, launching its IQ7+ microinverter in the country.
August 16, 2021
Brazilian energy company Cemig has released details of its latest auction for solar and wind, with 4.8GW of installed capacity entering.
August 11, 2021
Energea Global, a renewable energy investment manager, has announced a US$27 million deal with BTG Pactual to construct a portfolio of solar projects in Brazil.
July 27, 2021
Canadian Solar has closed a BRL500 million (US$100 million) financing facility to develop a Brazilian solar portfolio claimed to be the country’s largest, while also giving it the option to hold built solar assets for longer.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 1, 2022
London, UK
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal