The funding will be for the construction of the Boa Sorte Solar plant in Minas Gerais, a project developed by Atlas Renewable Energy through a joint venture with Hydro Rein to provide clean energy to a client from the Brazilian industrial sector.

SAO PAULO, JAN 6, 2023 – Atlas Renewable Energy, a leading international renewable energy company, announces that it has secured a loan of USD 210 million from Banco Nacional de Desenvolvimento Econômico e Social (BNDES) to finance its Boa Sorte solar project. This marks the first time that BNDES has executed a US dollar-indexed loan to a renewable energy project.

“We hope that this is the first of many operations in which the BNDES can finance companies using the dollar as a reference. This is the bank expanding its range of products and seeking to better serve its customers,” said the Infrastructure Credit Director, Solange Paiva Vieria.

This financing is of great importance for the Brazilian market and for the renewable energy industry in the country. It sets a new precedent for project financing in Brazil, making it available for projects with USD-denominated power purchase agreements (PPAs) specifically designed for large Brazilian companies which are large exporters. The deal is also particularly significant given the new regulation under Law # 14,286 / 2021 that allows exporters to enter into USD PPAs with companies that hold authorizations, which is the case of energy trading companies.

“This is the third USD deal for Atlas in Brazil to finance renewable energy projects that will serve large energy consumers in the country, but it is worth noting that this is particularly unique since it has been issued by a public bank,” said Luis Pita, General Manager for Atlas Renewable Energy in Brazil. Pita also added: “The fact that BNDES has issued this loan is a testament to the growing importance of renewable energy globally and in Brazil and the significant role that companies like Atlas are playing in driving this transition. We hope that this financing will facilitate new USD-indexed financing for renewable energy projects in the country and help to drive the transition to a more sustainable energy future.

“With the introduction of Law 14,286/21, known as the Foreign Exchange Law, as of December 31, 2022, agents in the electricity sector will be able to trade energy through PPAs (Power Purchase Agreements) linked to the dollar. This new framework allows electro-intensive exporting companies to reduce their risk to exchange rate fluctuations, given that their products are traded in dollars and the electricity consumed, being an important input to produce goods, can also be purchased at prices linked to the dollar,” detailed Daniel Barreto, superintendent of the BNDES Energy Area. “This new model requires the feasibility of financing also pegged to the dollar, and anticipating this new reality, BNDES, through fundraising abroad, innovatively made possible the financing operation for the Boa Sorte solar project, from the Atlas Group,” added Barreto.

“We are very excited to partner with BNDES on its first dollar-indexed financing for renewable energy. Having financing indexed to the dollar is not only in the interest of investors, but a crucial prerequisite for making the Boa Sorte project viable. The support from BNDES attests to the importance of the Boa Sorte project, supporting Hydro REIN’s industrial decarbonization mission” said Marcela Jacob, Head of Hydro Rein Brazil.

The Boa Sorte solar project will be built in Paracatu, in the State of Minas Gerais, Brazil. It will provide clean energy to a client from the Brazilian industrial sector, under a 20-year Power Purchase Agreement (PPA). The plant will have an installed capacity of 438 MW, which will generate 815 GWh annually. This is equivalent to providing clean energy to more than 394,000 homes and offsets more than 61,000 tons of CO2 emissions per year. The project also stands out for its novel contract structure through a joint venture between Atlas, HydroRein, and the client under a self-production contract to supply 12% of the client’s annual power consumption.

The project will continue to foster Atlas’ approach to social responsibility within the nearby communities by providing jobs to the local workforce, estimating at least over 2000 people hired during construction. Atlas will also implement the “we are all part of the same energy” program to train local women in technical skills and will mobilize its contractors to reduce the gender gap within the construction of the plant and promote new capacities and skills within the local female workforce.

With the financing of the Boa Sorte solar plant, Atlas continues to pioneer and innovate within the renewable energy industry working alongside reputable banking institutions by offering custom-made solutions for large energy consumers looking to optimize energy costs and meet their sustainability targets.

About Atlas Renewable Energy

Atlas Renewable Energy is an international renewable energy generation company that has been developing, financing, constructing, and operating renewable energy projects throughout the Americas since early 2017. Atlas Renewable Energy includes an experienced team with a deep global power market and renewable energy expertise, and with the longest track record in the renewable energy industry in Latin America.

The company’s strategy is focused on helping large corporates make the energy transition to 100% clean energy. Atlas Renewable Energy is widely recognized for its high standards in the development, construction, and operation of large-scale projects; as well as a deep and long-standing track record in ESG and sustainable development. For more information, visit: AtlasRenewableEnergy.com

About BNDES

Throughout its 70 years of history, BNDES has been the Government’s main instrument for promoting long-term investments in the Brazilian economy, in addition to being one of the main financiers of micro, small and medium-sized companies in the country. The Bank also has an important anti-cyclical role in times of crisis, as one of the formulators of solutions for the resumption of economic growth. Currently, the BNDES also works with a focus on creating and maintaining jobs, and improving public services in Brazil, such as education, health and sanitation, in addition to supporting the country in the just transition to a carbon-neutral economy. The purpose of the Bank is to transform the lives of generations, promoting sustainable development.

About Hydro Rein 

Hydro Rein was established in 2021 as part of Hydro’s strategy to grow in renewables. The company aims at becoming the preferred supplier of renewable power and other energy solutions for industrial clients. 

Hydro Rein has a significant pipeline of wind and solar projects in Brazil and the Nordics for long-term power supply to Hydro and other industrial offtakers. Hydro Rein is also developing a range of energy solutions to assist industries with the management and optimization of its energy consumption and storage behind-the-meter.  

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NEW YORK, Oct. 11, 2022 /PRNewswire/ — Global Infrastructure Partners, a leading independent infrastructure investor, and Actis, a leading global investor in sustainable infrastructure, jointly announced the completion of the acquisition of Atlas Renewable Energy by GIP.

Atlas is the second largest independent renewables developer in Latin America with 14 fully contracted solar assets that produce 2.3GW of installed capacity, across Brazil, Chile, Mexico, and Uruguay.

Atlas Renewable Energy was founded in 2016 by a team of highly-experienced executives, with the support of Actis. From an initial development portfolio, Atlas has increased its installed capacity by 5x over a 4.5 year period. Atlas’ approach has been focused on delivering customer-focused energy solutions with the goal of providing green energy at competitive costs through tailor-made, innovative solutions.

Atlas benefits from sector tailwinds in the region, as economic growth and the global energy transition, coupled with the availability of abundant renewable resources, are driving increased demand for renewable energy generation. Atlas is well-positioned to help lead this growth through its differentiated offering, scaled regional presence, and strong existing relationships with customers in the region.

Ronnie Hawkins, Partner of GIP Emerging Markets said: “We are pleased to announce the acquisition of Atlas Renewable Energy, which further enhances GIP’s leading global renewables franchise. Atlas adds a large-scale Latin American platform to our solar, wind and battery storage assets in North America, Europe and Asia. We look forward to supporting Atlas’ management team and leveraging GIP’s extensive experience and relationships to further scale the solar business across other renewable technologies.”  

Michael Harrington, Actis Partner and Head of Americas, added: “We are immensely proud of the Atlas platform and organization. Building it has called upon our experience and networks across the global renewable energy industry to take it from a restructuring process, to creating one of the region’s largest independent renewables businesses and a global sustainability leader. The sale of Atlas marks our fifth renewable platform exit in the Americas, where we have now built and owned over 7 GW of contracted wind and solar capacity, making Actis one of the largest private investors in the energy transition of the region.”

Carlos Barrera, CEO, Atlas Renewable Energy commented:  “In the past five years Atlas Renewable Energy has experienced a remarkable growth journey that now positions us as a regional leader in delivering competitive, clean energy solutions to large corporate customers. We are grateful for Actis’ partnership, trust and commitment during this period. The investment by GIP now marks a new and exciting phase for our company as we expand the business into new markets and new technologies, and continue to deliver tailor-made solutions that help corporates transition to clean energy. We look forward to the road ahead, and to continue to set a high bar in our ESG efforts to promote sustainable development through renewable energy.”

About GIP

GIP is a leading independent infrastructure fund manager that makes equity and debt investments in infrastructure assets and businesses. GIP targets investments in the energy, transport, digital infrastructure, and water/waste sectors in both OECD and select emerging market countries. GIP’s global renewables portfolio includes solar, wind, hydro, and battery storage assets representing 19 GW of operating and construction capacity, royalty interests in over 20 GW of operating renewable projects, and over 173 GW of assets under construction or in development.

Headquartered in New York, GIP operates out of 10 offices: New York, London, Stamford (Connecticut), Sydney, Melbourne, Brisbane, Mumbai, Delhi, Singapore and Hong Kong. GIP manages c. US $84 billion for its investors. GIP’s portfolio companies have combined annual revenues of c. US $68 billion and employ over 100,000 people. For more information, visit https://www.global-infra.com.

About Actis

Actis, is a leading global investor in sustainable infrastructure. Actis has raised US $24 billion since inception and operates with sustainability at its core. Actis believes Values Drive Value, through deep operational experience, on the ground presence and a value-led approach, Actis delivers competitive returns for its institutional investors and measurable positive impact for the countries, cities and communities in which it invests.

Actis is a signatory to the United Nations backed Principles for Responsible Investment (UNPRI), an investor initiative developed by the UNEP FI and the UN Global Compact. The firm has consistently been awarded the highest rating score in the UN Principles for Responsible Investment (PRI) independent assessment. 

www.act.is

About Atlas Renewable Energy:

Atlas Renewable Energy is an international renewable energy generation company that has been developing, financing, constructing, and operating renewable energy projects throughout the Americas since early 2017. Atlas Renewable Energy includes an experienced team with deep global power market and renewable energy expertise, and with the longest track record in the renewable energy industry in Latin America. The company’s strategy is focused on helping large corporates make the energy transition to 100% clean energy. Atlas Renewable Energy is widely recognized for its high standards in the development, construction, and operation of large-scale projects; as well as a deep and long-standing track record in ESG and sustainable development. For more information, visit: AtlasRenewableEnergy.com

Hydro Rein, Atlas Renewable Energy and ALBRAS are forming a joint venture to develop, build and operate a self-production project through a solar plant, which will be located in Paracatú, in the state of Minas Gerais, Brazil, with a planned total installed capacity of 438 MW. The project will supply long-term renewable power to Albras’ primary aluminum plant. 

The construction of the Boa Sorte solar plant is planned to start in Q4 of 2022, and operations are planned to start in Q4 2023.  Total investments are estimated at USD 320 million (100% basis). The project has been submitted to the competition authority (CADE) for clearance.   

Albras within the scope of the self-production project has signed a US dollar-denominated PPA (power purchase agreement) with Boa Sorte for an annual supply of 815 GWh from 2025 to 2044. The agreement covers 12% of Albras’ annual power consumption. 

The Albras primary aluminum plant is located in the Brazilian state of Pará and is a joint venture between Hydro and NAAC (Nippon Amazon Aluminium Co. Ltd.). Albras is the largest producer of primary aluminum in Brazil with an annual capacity of 460,000 tons and supplies both domestic and international markets. 

The Boa Sorte solar plant will contain more than 800,000 bifacial modules, which will provide enough energy to avoid the emission of 61,500 tons of CO2 annually.  

About Atlas Renewable Energy 

Atlas Renewable Energy is a renewable energy generation company that has been developing, financing, constructing, and operating renewable energy projects throughout the Americas since 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 for its high standards in the development, construction, and operation of large-scale projects. 

Atlas Renewable Energy is part of the Energy Fund IV, raised by Actis, one of the leading private equity investors in the energy sector. Atlas Renewable Energy’s growth is focused on the most stable markets in the region, using its proven expertise in development, marketing, and structuring to accelerate the transformation to clean energy. By actively engaging with the community and stakeholders at the heart of its strategy, the company works every day to deliver a cleaner future. 

About Hydro Rein 

Hydro Rein was established in 2021 as part of Hydro’s strategy to grow in renewables. The company aims at becoming the preferred supplier of renewable power and other energy solutions for industrial clients. 

Hydro Rein has a significant pipeline of wind and solar projects in Brazil and the Nordics for long-term power supply to Hydro and other industrial offtakers. Hydro Rein is also developing a range of energy solutions to assist industries with the management and optimization of its energy consumption and storage behind-the-meter.  

The solar plant, which is already in operation, is located in the commune of María Elena, Antofagasta Region, Chile, and was built with bifacial technology. The plant has a total capacity of 244 MWp and will provide clean energy to the grid. It has a long-term power purchase agreement with Engie Energía Chile. The project will contribute to the goals of the Chilean government’s decarbonization plan.

Santiago, March 22, 2022. Atlas Renewable Energy marks a new milestone on the road to the implementation of clean energy in Chile, with the operation of one of the largest solar plants in the country. Sol del Desierto is located in the commune of María Elena, Antofagasta Region, and has a total capacity of 244 MWp. With 582,930 solar panels spread over 479 hectares, the plant will generate 714 GWh annually. The solar project is an integral part of Chile’s Ministry of Energy’s decarbonization plan, which seeks to retire and/or convert half of the coal-fired power plants by 2025.

The project, which has already started operations, has a long-term solar power purchase agreement (PPA) between Atlas Renewable Energy and Engie Energía Chile, agreeing to supply 550 GWh/year of solar photovoltaic energy for a period of 15 years. The plant’s generation enables the supply of clean energy to 345,198 homes.

Sol del Desierto will avoid 368 thousand tons of carbon dioxide, which is equivalent to taking more than 47 thousand vehicles out of circulation per year. The solar park also stands out for its efficiency. It was developed with bifacial technology, which allows energy to be obtained from the back and front faces of each of its solar modules.

An innovative project at an international level

The company’s general manager for Chile, Alfredo Solar, explains that “at Atlas Renewable Energy we develop our projects with a strong commitment to the environment, the surroundings, and to inclusion. That is why Sol del Desierto stands out not only for its contribution to clean energy but also for the care of the surrounding nature, the conservation of archaeological sites, and above all for having placed special focus on the inclusion of the female workforce in its construction”.

Thus, the development of the plant fostered social and environmental responsibility programs, especially highlighting the work of Atlas and its employees with the community of Maria Elena, through various initiatives aimed at promoting diversity, inclusion, and local participation in the project.

One of the most outstanding projects was the “We are part of the same energy” program, which provided technical skills training in the assembly of solar modules and electricity to 66 women neighbors of the commune so that they could have access to opt for jobs within the construction of the plant as well as for other projects being built in the area. Thanks to this program, to which the contractors participated, the construction of Sol del Desierto was able to add 135 women in different operational and supervisory jobs, elevating female representation in the construction of a solar project from a traditional 2% to 15%.

In addition, due to its commitment to the environment and respect for nature and the communities, Atlas Renewable Energy developed a series of initiatives to protect the local culture and the environment. One of these was a plan to protect a series of heritage road traces, trails, and railroad lines that were in use during Chile’s saltpeter boom. In addition, 42 objects were collected that testify to the daily life of that era, which are being studied in Santiago and will later be transferred to the Museum of Natural History in Antofagasta. In addition, a program for the rescue, relocation, and monitoring of lizards living near Sol del Desierto was executed. This with the objective of protecting these reptiles prior to the construction of the plant.

Investment plans in Chile

Chile is one of the countries where a relevant growth of the industry is projected in the coming years, due to the decarbonization policy adopted by the government and the growing demand for clean and low-cost sources for the supply of large private consumers such as the mining industry. Atlas Renewable Energy is betting heavily on this market, focusing on technologies such as wind, solar, and storage.

In just a few years, Atlas has developed projects in Chile with a clear focus on the long term, both with its commercial partners and at the level of supply to regulated customers. In the country, the company sums a total of 441 MW, and in the region, a total of 2,268 MW of contracted projects across Chile, Mexico, Brazil, and Uruguay, which contribute to the energy transformation of Latin America toward cleaner sources. The company expects to continue consolidating its presence in the countries where it already operates and expands into other regions with innovative and sustainable energy projects.

About Atlas Renewable Energy

Atlas Renewable Energy is a renewable energy generation company that has been developing, financing, constructing, and operating renewable energy projects under long-term contracts throughout the Americas since 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 for its high standards in the development, construction, and operation of large-scale projects.

Atlas Renewable Energy is part of the Energy Fund IV, raised by Actis, one of the leading private equity investors in the energy sector. Atlas Renewable Energy’s growth is focused on the most stable markets in the region, using its proven expertise in development, marketing, and structuring to accelerate the transformation to clean energy. By actively engaging with the community and stakeholders at the heart of its strategy, the company works every day to deliver a cleaner future.

To learn more about Atlas Renewable Energy, visit www.atlasrenewableenergy.com

SEAL Awards recognizes Atlas Renewable Energy with its Business Sustainability Award in the Environmental Initiatives Category

MIAMI, FL, Dec. 23, 2021 – Atlas Renewable Energy, a global renewable energy generation company, has been recognized as SEAL Awards’ Business Sustainability winner under the Environmental Initiative Award Category. Atlas was recognized for its environmental activity to preserve and protect the Howler Monkey species near its 444MW photovoltaic project La Pimienta, located in Mexico’s municipality of Carmen in the state of Campeche.

The program consists of three main environmental benefits including the conservation of 300 hectares of secondary vegetation of the evergreen forest patches in the area, the creation of biological corridors to connect the forest patches that surround the solar plant, and the conservation of the Black Howler Monkey Habitat, which is an endangered species that has been red-listed by the International Union for Conservation of Nature (IUNC).

“Helping preserve biodiversity and improve local species’ habitats near our renewable energy projects is of utmost importance and this is always taken into consideration in the design phase of a project,” said Eddaly Cuesta, ESG Manager for Colombia and Mexico at Atlas Renewable Energy. “Seeing this program develop from a basic idea to a program with tangible results is very fulfilling from both a personal and professional perspective. Everything was possible thanks to the great leadership within Atlas, which understands that protecting and preserving biodiversity is an essential part of the development of our projects.”

The environmental initiative aligns with Atlas’ ESG pillar for biodiversity protection which intends to help protect and maintain environments and species near our renewable energy projects. With this, Atlas aims to motivate others within the industry and foster even more commitment toward the preservation and conservation of species and habitats. Within this pillar, Atlas has executed reforestation activities, donated seedlings, held workshops for environmental education, and has helped toward the conservation of different species across Chile, Brazil, and Mexico.

“We have a commitment as clean energy generators to provide power and to do so as sustainably as possible. Taking care of the ecosystems in which we operate is a priority for Atlas, not because it is required but because it’s the right thing to do. That’s why we often go above and beyond local regulations and do more than what is expected in this sense. I’m very proud of what Atlas has achieved, and the support from the other divisions within the company, such as EPC and Development, which have been fundamental in the materialization of this program”, said Maria Jose Cortes, Head of ESG at Atlas Renewable Energy. “Thank you SEAL Awards for this recognition and thank you to our trusted partners such as BIOS, ERM, Ecology Institute AC, and IDB Invest for being such an important element during the development and execution of this initiative.”

The first phase of the project, which consisted of the relocation of individual howler monkeys and the creation of corridors to connect forest patches, is well underway. Currently, the program is moving into phase two, which consists of monitoring the Black Howler monkey population for the next couple of years to ensure their wellbeing, executing reforestation actions and preserving the forest patches that continue to be connected by the biological corridors.

“The environmental merits of renewable energy are consistent and obvious,” said Matt Harney, Founder of SEAL Awards.  “Our judging panel found Atlas’ prioritization of conservation and biodiversity in its La Pimienta Solar Project to be unique and exemplary. We encourage all renewable energy developers to model this conservation-centric approach.”

About Atlas Renewable Energy

Atlas Renewable Energy is a renewable energy generation company that develops, builds, and operates renewable energy projects with long-term contracts across the Americas. The current company portfolio is 2.2GW of contracted projects in development, construction, or operational stages, and aims to expand by an additional 4GW in the next years.

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 for its high standards in the 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. Atlas Renewable Energy’s growth is focused on the leading emerging markets and economies, using its proven development, commercialization, and structuring know-how to accelerate the transformation toward clean energy. By actively engaging with the community and stakeholders at the center of its project strategy, the company works every day to provide a cleaner future.

To know more about Atlas Renewable Energy, visit: www.atlasrenewableenergy.com