The three projects are estimated to benefit around 470,000
families per year with clean, renewable energy and will avoid the
emission of 108,000 tons of CO2 annually.
SÃO PAULO, March 18, 2019
/PRNewswire/ -- Atlas Renewable Energy, leader in clean energy
in Latin America, announced the
completion of long-term financing of three of its solar energy
plants in Brazil for a total
amount of USD $152 million. The
financing was obtained through Banco do Nordeste (BNB), backed by
an equivalent sum of commercial bank guarantees from BTG Pactual,
Banco ABC Brasil, and Banco Bradesco. Together, the plants will
have an installed capacity of more than 300 MWps, which has allowed
them to achieve new standards for financial alliances and boost the
Brazilian energy sector to higher levels of solar capacity.
Each project has a 20-year power purchase agreement (PPA) with
the Chamber of Electricity Sales (Câmara de Comercialização de
Energia Elétrica- CCEE). It is estimated that the combined energy
produced of 672.8 GWh / year will provide clean energy for a total
of 470,000 families per year. Atlas Renewable Energy estimates that
the operation of the plants will prevent the emission of 108,000
tons of CO2 per year.
The plants are located in the northeast region, namely the São
Pedro and Juazeiro plants in the state of Bahia, and the Sol Do
Futuro plant in the state of Ceará. The São Pedro solar complex is
the first functioning operation of Atlas Renewable Energy in
Brazil, with an installed capacity
of 67.1 MWp in two secondary plants. As part of the company's
commitment to work with local communities and environmental
guidelines during the construction, development, and operation
phases of its plants, the São Pedro project created nearly 700
direct jobs, and will prevent the emission of more than 61,000 tons
of carbon dioxide. The Juazeiro and Sol do Futuro plants are
currently in the start-up phase and will be fully operational in
the coming months.
BNB's Business Director, Antônio Rosendo Neto Júnior, highlights
that "A partnership with Atlas Renewable Energy demonstrates the
synergy of Banco do Nordeste with this sector of the economy.
Investments are essential for the evolution of the energy matrix
throughout the Brazilian Northeast, especially from renewable and
non-contaminated sources. We are fulfilling the Bank's
mission, while generating employment and income in our region."
Atlas Renewable Energy CEO Carlos
Barrera explains, "Brazil
is Latin America's largest
renewable energy market, and these three projects allow us to
consolidate a strong presence in this market. We are pleased to
have partnered with these strong, high-caliber financial
institutions enabled in part by our team's solid track-record and
expertise in development and execution." He adds, "As a renewable
energy company, we're just scratching the surface of how powerful
Latin America's renewable energy
sector can be when you combine it with high-quality PPAs, financing
innovation, and top-tier projects."
"By closing our investment goals of $170
million in Brazil, Atlas
Renewable Energy adds to Brazil's
thriving renewable energy sector," explains General Manager of
Brazil, Luis Pita, who also added, "we believe
Latin America's renewable energy
market is due for an innovative approach to the solar technology
that can deliver data driven decisions at scale and statistics
aimed at increasing energy production across borders. Atlas
Renewable Energy is becoming a leader in this arena. These solar
projects are in line with our company's commitment to invest in top
of the line technologies, such as NEXTracker's TrueCapture
Technology and the introduction of the first digital substation in
Brazil, which, along with our work
ethic, quality of production, and company culture, are part of the
company's strategic priorities."
These three projects are expected to be complemented by an
additional 1.5 GW, which Atlas Renewable Energy plans to add to its
investment portfolio over the next three years throughout Latin
America. The current operations in Chile, Uruguay, Brazil, and Mexico are evidence of Atlas Renewable
Energy's commitment to alternative energy development in
Latin America and a testament to
its track record as a developer and administrator of assets in the
region.
About Atlas Renewable Energy
Atlas Renewable Energy, a renewable energy company that
develops, builds, and operates renewable energy projects with
long-term energy contracts across Latin
America. Atlas Renewable Energy's current portfolio is 1.2GW
of contracted projects in development, construction, or operational
stages, and aims to grow an additional 1.5GW over the next decade.
Launched in early 2017, Atlas Renewable Energy includes an
experienced team with the longest track record in the solar energy
industry in Latin America. The
company is recognized by its high standards in development,
construction, and operation of large-scale projects.
Atlas Renewable Energy is part of the Energy Fund IV, founded by
Actis, a leading private equity investor in the energy sector of
emerging markets. Actis has allocated more than $600 million of equity in Atlas Renewable Energy
to invest in long-term renewable energy contracted projects.
Atlas Renewable Energy's growth is focused on the main emerging
markets and economies of Latin
America, using its proven development, commercialization and
structuring know-how to bring clean energy to the region. By
actively engaging with the community and stakeholders at the center
of its project strategy, Atlas works every day to provide the world
with a cleaner future.
For more information, please visit
https://www.atlasrenewableenergy.com/
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