US independent power producer (IPP) Atlas Renewable Energy has secured refinancing of US$3 billion for a solar and battery energy storage system (BESS) portfolio in Latin America.
The company described the deal as the “largest corporate refinancing for non-conventional renewable energy” in the region, and financing comes from a number of investors, including Global Infrastructure Partners (GIP), which owns the IPP, and Banco Santander, BNP Paribas, Crédit Agricole and Natixis CIB, among others.
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Atlas said the money would support “continued growth” in clean energy infrastructure, including solar and BESS assets located “primarily” in Chile, alongside additional projects in Brazil and Mexico. The company did not specify the technologies used in these projects, nor their capacity, nor their operating status, and PV Tech has asked for further clarification on these points.
“Securing a refinancing of this magnitude is a strong vote of confidence from global financial institutions for our brand and forward strategy in the region,” said Atlas Renewable Energy CEO Carlos Barrera. “This refinancing is also a sign of the company’s financial maturity and will support its next phase of growth.”
Latin America has become a priority for the company in the last year, having advanced a number of projects in the region. In January, Atlas signed a power purchase agreement (PPA) for a Colombian solar PV project; last October, it raised finance to deploy a solar-plus-storage project in Chile; and in July, it secured US$179 million for a solar complex in Brazil.
