A volcano and lake near the San Pedro de Atacama in the Antofagasta region of Chile. Source: Flickr / Person with no name
Atlas Renewable Energy has landed a long-term PPA agreement with utility Engie Energía, which will help support the development of a 230MW-plus solar farm in Chile.
The array in question, the Sol del Desierto solar plant, is in the Antofagasta region of northern Chile and is set to be operational in January 2022. Atlas’ power purchase agreement (PPA) with Engie Energía binds them to a 15-year contract and will see it provide an estimated 550GWh of power each year.
Alfredo Solar, general manager of Atlas Renewable Energy Chile said in a statement that the company was proud to "collaborate with Chile’s decarbonisation plan.” The Latin American country has committed to carbon neutrality by 2050, and the government has pledged to close eight of the country’s 28 coal-fired plants by 2024.
Atlas Renewable Energy was launched by London-based market investor Actis group in early 2017. It is focused exclusively on developing, funding, building and operating renewables in Latin America. It claims to have 800MW of solar in Uruguay, Chile, Brazil and Mexico and a contracted pipeline of 1400MW.
In June, Atlas Renewable Energy switched on two PPA-backed large-scale PV plants in Mexico. And earlier this year, it completed long-term financing for three of its solar energy plants in Brazil with an installed capacity of 300MW, for a total amount of US$152 million. It’s first plant in Brazil, the 67.1MW São Pedro solar plant, was commissiond in January.
Chilean capital city Santiago will host the annual UN climate talks, COP 25, this December. The country extended the invite after Brazil withdrew from hosting.
The 6th Annual Solar & Storage Finance Asia conference will bring together policy makers, developers, financers and investors from across the region to discuss how we mobilise investment in tomorrow’s projects and overcome some of the challenges slowing us down. Don’t miss out, join the conversation and help us in our goal of driving forward large-scale renewable Solar & Storage projects across Asia.
The Energy Storage Latin America agenda provides the industry with an unrivaled opportunity to discuss how the region is set to unlock the full potential of energy storage, accelerate deployment and address the main regulatory and financing challenges. The Energy Storage Summit Latin America is the first event of its kind, designed with a clear goal to accelerate both dialogue and deployment of energy storage solutions. Hear from a world-class line up of industry speakers discussing: The changing market, Active and pending projects, Regulatory environment, Financing options and New storage technologies. This event is the only place where the entire energy storage value chain will be present. Enquire now and be part of an unparalleled platform enabling you to network and do business with: Government, Utilities, Developers, EPCs, Investors and more.