Atlas Renewable Energy Secures Record-Breaking Loan for Landmark Solar Project in Brazil

Atlas Renewable Energy Solar Plant

Atlas Renewable Energy, an independent power producer (IPP) in Latin America, has secured a loan of USD 447.8 million from the Brazilian development bank (BNDES). This landmark loan stands as BNDES’s largest-ever renewable energy loan in US Dollars and is designated for the development of the Vista Alegre Solar Plant.

The Vista Alegre Solar Plant, projected to possess an installed capacity of 902 MWp (equivalent to 768 MWac), is poised to deliver an average output of 200 MW or 2TWh annually. Over its 20-year operational lifespan, this venture is estimated to prevent a staggering 2.4 million tons of CO2 emissions, equivalent to powering over 3 million individuals.

A noteworthy feature of the Vista Alegre Solar Plant is its strategic power supply agreement with Albras spanning 21 years. This agreement solidifies the plant’s commitment to providing electricity for aluminum production, marking it as the largest solar project to be developed in a single phase within Brazil.

This significant financing initiative marks the second collaboration between BNDES and Atlas Renewable Energy, following the successful financing of the Boa Sorte Solar Power Plant (438 MWp), a joint venture with Albras, reinforcing their dedication to supplying clean energy for industrial purposes.

Carlos Barrera, CEO of Atlas Renewable Energy, expressed immense pride in this momentous project, emphasizing its role as a beacon of progress in advancing the energy transition. He extended gratitude to BNDES for their unwavering support, affirming that Vista Alegre stands as a testament to the impactful strides achievable through collaboration with local financing partners.

Barrera further highlighted the project’s commitment to incorporating industry-leading Environmental, Social, and Governance (ESG) practices. Atlas Renewable Energy is set to introduce robust social programs aimed at advocating, supporting, and empowering the local community. Notably, the solar project is expected to generate over 2,500 jobs during its construction phase, contributing significantly to the local economy.

Moreover, Atlas Renewable Energy is dedicated to implementing its flagship social program, ‘We are all part of the same energy,’ with a focus on fostering diversity and inclusion. The initiative aims to empower local women by providing them with the necessary skills, targeting a participation rate of at least 15 percent in the construction workforce.

Additionally, the company plans to roll out its acclaimed Ed-Mundo program, designed to train young students in programming, IT, robotics, and entrepreneurship within underprivileged communities. This program aims to equip students with the tools and opportunities to drive social transformation, fostering employment and income sources within their communities.

The Vista Alegre Solar Plant, with its expansive capacity, groundbreaking initiatives, and commitment to sustainable practices, emerges as a testament to Atlas Renewable Energy’s unwavering dedication to reshaping the energy landscape while fostering socio-economic growth and empowerment within Brazil.