Atlas Renewable Energy signs 375GWh 24/7 PPA with Codelco

March 6, 2024
Facebook
Twitter
LinkedIn
Reddit
Email

Atlas Renewable Energy has signed a power purchase agreement (PPA) with Chilean state-owned mining company Codelco to deliver 375GWh a year from a solar-plus-storage project in Chile.

The PPA is a 24/7 supply agreement, using battery energy storage to deliver power around the clock over a 15-year period.

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

Atlas was awarded the contract after winning a public tender issued by Codelco. Neither company disclosed the nameplate generation or energy storage capacity of the project, or its name or location. PV Tech has contacted them for clarification.

“With this project, we formally announce our entry into battery storage technology. We see this as an essential element to materially amplify the volume of renewable energy sources in the power system,” said Carlos Barrera, CEO of Atlas Renewable Energy.

Many of Atlas’ solar operations are concentrated in Latin America, and the company has signed a plethora of PPAs in the region. In March 2022, it began commercial operations at a 244MWp solar PV plant in Antofagasta, Chile under a 15-year PPA with Engie Energía Chile.

Brazil, in particular, has been a target market for Atlas. In November 2023 it secured US$448 million from the Brazilian Development Bank towards a 902MWp project in the southeastern state of Minas Gerais – the ‘largest’ single-phase solar PV project in the country. In the preceding April, it signed a corporate PPA with Brazil’s largest aluminium producer for the entire 902MWp capacity.

In September of the same year, it inaugurated 600MW of solar PV capacity in Minas Gerais, spread across two projects, each with corporate PPAs in place.  

In October 2022, Atlas was acquired by fund manager Global Infrastructure Partners (GIP) and private equity firm Actis for an undisclosed amount.

Read Next

October 29, 2025
Greenvolt and European Energy have finalised financial deals for solar-plus-storage projects in Denmark and Latvia.
October 29, 2025
French firms TotalEnergies and EDF, with local partners, secured contracts for 400MW and 600MW solar projects in Saudi Arabia, supporting Vision 2030 renewable goals.
October 28, 2025
GreenYellow plans to invest US$116 million in Poland over the next three years to expand its installed capacity and customer base.
Premium
October 28, 2025
BESS are 'the new player that everyone is talking about,' in Europe’s power purchase agreement (PPA) space, according to LevelTen.
October 28, 2025
GoldenPeaks Capital secures EUR114 million (US$132 million) financing package for two solar PV Portfolio in Poland.
October 28, 2025
Chinese solar inverter producer GoodWe has launched a new “low noise, low weight” string inverter for the European corporate & industrial solar market.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
November 12, 2025
10am PST / 1pm EST
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany