Atlas Renewable Energy secures US$179 million to build 579MW Brazilian solar complex

July 28, 2025
Facebook
Twitter
LinkedIn
Reddit
Email
Atlas Renewable Energy secured financing for a Brazilian solar PV project
The project consists of 11 solar PV plant and is the latest partnership between Atlas Renewable Energy and BNDES. Image: Atlas Renewable Energy

Solar developer Atlas Renewable Energy has secured BRL1 billion (US$179 million) in financing for a 579MW Brazilian solar PV complex.

Located in southeast Brazil, the Draco Solar Complex is expected to enter into operation in early 2026 and will provide power to several key industries, including data centres.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The project consists of 11 solar PV plants and the construction of a 500 kV substation and a single-circuit, 15 km transmission line connecting to Brazil’s National Interconnected System (SIN).

Funding was secured from the Brazilian Development Bank (BNDES), with whom the solar developer had previously partnered with, for the financing of other projects.

Nearly two years ago, Atlas Renewable Energy secured US$448 million to build the 902MW single-phase Vista Alegre solar plant in the country in November 2023 and US$210 million loan from BNDES to finance the 438MW Boa Sorte solar project in January 2023. Similar to this latest financing round, the Boa Sorte solar project consists of several PV plants (eight in total) and is also located in Minas Gerais.

According to Carlos Barrera, CEO of Atlas Renewable Energy, both companies have partnered to finance nearly 2GW of installed solar PV capacity across Brazil. As of June 2025, the country had already installed 59GW of solar PV capacity, according to data from Brazilian trade association Absolar. Most of the installed solar PV comes from distributed generation with more than 41GW.

The solar developer has been a prominent player in the region, with an operational portfolio of 3.6GW in Latin America and a further 2.5GW in advanced development.

Chile is among the countries the company is present in the region, and where it recently secured US$510 million in financing for a solar-plus-storage project. The project will have 215MW of installed solar PV capacity and a 418MW battery energy storage system with a 4-hour duration. Commercial operation of the project is targeted for the end of 2026.

Read Next

March 23, 2026
Terabase Energy has completed testing work at its Terafab version 2 solar module installation process, which is set for commercial shipments.
March 20, 2026
Renewables developer Newave Energia and investment firm Gerdau have opened a 452MW solar PV plant in Brazil.
March 18, 2026
Danish independent power producer (IPP) European Energy has inaugurated the 108MW Lancaster Solar Farm in northern Victoria.
March 18, 2026
The European Investment Bank, Natixis CIB and IPP Sunprime Holdings have signed a project-finance operation for a 290MWp solar PV and energy storage portfolio in Italy.
March 16, 2026
Legislators in Maryland have launched a new legislative measure that will boost solar PV and energy storage.
March 16, 2026
New Zealand energy company Genesis Energy has officially begun construction on its 136MWp Tihori Solar Farm in Edgecumbe, Bay of Plenty.

Upcoming Events

Solar Media Events
April 15, 2026
Milan, Italy
Solar Media Events
June 16, 2026
Napa, USA
Solar Media Events
October 13, 2026
San Francisco Bay Area, USA
Solar Media Events
November 3, 2026
Málaga, Spain
Solar Media Events
November 24, 2026
Warsaw, Poland