This solar project created 696 direct jobs and will prevent the emission of more than 61k tons of carbon dioxide, combining the well-being of the communities and environmental safety.
São Paulo, Brazil, January 24th, 2019 – Atlas Renewable Energy, a leader in clean energy across Latin America, inaugurates today its first operational project in Brazil, the São Pedro solar plant. Construction began in 2017 in Bom Jesus da Lapa, state of Bahia, and the plant has an installed capacity of 67.1 MWp (megawatts peak) in two sub-plants. The financing of the plant was secured through the Banco do Nordeste (BNB), supported by an equivalent sum of commercial bank guarantees from BTG Pactual, Banco ABC Brasil, and Banco Bradesco.
The São Pedro Solar Project was contracted under a 20-year power purchase agreement (PPA) with the Chamber of Electricity Commercialization (Câmara de Comercialização de Energia Elétrica – CCEE), through the government’s energy auction in 2015.
The plant’s 204,120 modules span over 150 hectares and are projected to generate 150 GWh annually, which can light up roughly 82,000 homes per year, and reduce the emission of more than 61,125 tons of carbon dioxide, according to the company’s own calculations.
As part of Atlas Renewable Energy’s commitment to work with local communities during the construction, development, and operational phases of their plants, the São Pedro project created 696 direct jobs, while working with seven different rural communities. In addition, Atlas Renewable Energy offered community members educational and professional development programs including apiculture training, cultural relevance, and built two nursery gardens in local schools. These combined programs reached a total of more than 1,500 people in the local community.
In addition to the São Pedro Solar Plant, Atlas Renewable Energy’s Brazilian portfolio includes three other projects currently under construction and development, namely Juazeiro and Sertão Solar in the state of Bahia, and Sol do Futuro, in Ceará.
Luis Pita, Atlas Renewable Energy’s General Manager for Brazil explained, “Atlas Renewable Energy’s success in Brazil is attributed to three key factors: our commitment to the Brazilian market, where in just two years Atlas Renewable Energy has established itself as the second largest player in the Brazilian solar energy industry; our dedication to the growth of the local communities where we operate, where we offer local services based on their needs allowing us to support their development; and the third aspect is the transfer of technologies, where we aim to raise the bar in the industry by providing our engineers with the knowledge of the most advanced technologies, and ways to implement them in our plants. We aim to continue growing and expanding throughout the region and will always bring our standard of excellence to every project we develop.”
With the second largest solar energy base in Latin America, Atlas Renewable Energy’s solar plant portfolio spans across the region. In Uruguay, the company has two operational plants, Del Litoral (17 MW) and Naranjal (59 MW), whose innovative financial structure with US Private Placement and several international investors, earned the company the Bond & Loans Award in 2018. In Chile, the company already operates two photovoltaic plants, namely Javiera (69.5 MW), which was the first private PPA in the region, and Quilapilún (110 MW), inaugurated in 2017. In Mexico, Atlas Renewable Energy’s Guajiro Project (129.5 MW) is under construction and set to begin operation in mid-2019. These operations, along with the company’s operations in Brazil, are evidence of Atlas Renewable Energy robust portfolio as a leader in clean energy across Latin America.
About Atlas Renewable Energy
Atlas Renewable Energy is a renewable energy generation company that develops, builds, and operates renewable energy projects with long-term energy contracts across Latin America. The current company 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, the company works every day to provide the world with a cleaner future.
To know more about Atlas Renewable Energy, visit: www.atlasrenewableenergy.com
Diana Castellanos, Communications, Atlas Renewable Energy
Kelsey Flitter, BCW