Engie acquires 545MW solar portfolio in Brazil from Atlas Renewable Energy

Facebook
Twitter
LinkedIn
Reddit
Email
A 244MWp solar project in Antofagasta, Chile. Image: Atlas Renewable Energy.

French utility Engie has purchased a portfolio of five solar projects in Brazil from US-headquartered clean energy firm Atlas Renewable Energy, with a combined capacity of 545MWac.

The portfolio consists of the Juazeiro, Sao Pedro, Sol do Futuro, Sertao Solar and Lar do Sol projects, in the eastern Brazilian states of Bahia, Ceara and Minas Gerais. Engie values the deal at €618 million (US$659 million), and noted that the projects, which are currently in commercial operation, will add to the company’s 10GW portfolio of renewable power projects in the country.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

“The opportunistic acquisition of operating assets has become an attractive option for efficiently expanding Engie businesses, at this time in the market, benefiting from synergies with existing operations,” said Paulo Almirante, Engie senior executive vice president of renewables, energy management and nuclear.

“This tuck-in transaction also contributes to our ambition to reach 50 GW of installed renewable capacity by 2025 and 80 GW by 2030.”

Atlas also announced that it would use the funds raised from the sale to “reinvest in developing new renewable projects” in Brazil. The company already has two PV projects under construction in Minas Gerais, and has already announced a joint project with Colombian firm Isagen to develop 1GW of new solar projects in Colombia.

The news follows the start of commercial operations at Engie’s 181MW Antofagasta solar project in Chile, its largest in the country, as it looks to expand its operations in South America. In December 2022, the company announced plans to build a 638MWh energy storage system in Chile, which would be the largest by capacity in Latin America, and Engie plans to replace its coal-fired power plants in the country with a 2GW renewable portfolio by 2025.

In January this year, Global Energy Monitor reported that Latin America and the Caribbean had the third-largest solar pipeline under construction in the world, with 19.4GW of projects under development. This capacity of new projects was four-fold greater than the capacity under development in Europe, and almost seven-fold greater than the capacity under construction in India, raising optimism about the future of the Latin American solar sector.

Read Next

Premium
June 30, 2025
Solargis CEO Marcel Suri explores three areas where new standards could help underpin greater efficiency, accuracy and market resilience.
June 30, 2025
Heliene has completed the sale of Section 45X Advanced Manufacturing Production Tax Credits in association with Minnesota-based U.S. Bank.
June 30, 2025
Eni subsidiary Plentiude has started operations at the northern block of its 330MW Renopool solar portfolio in Spain.
Premium
June 27, 2025
PV Talk: '2024 was a transformational year in terms of energy policy,' says Monika Paplaczyk ahead of this year's Clean Power 2030 Summits.
June 26, 2025
Adapture Renewables and Meta have signed two EAPAs that will see the latter acquire power from a 360MW Texas solar portfolio.
June 25, 2025
First Solar has sold US$311.8 million in tax credits to “a leading financial institution” under the rules set out in the IRA.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico