Atlas Renewable Energy Raises BRL 1 Billion For Brazilian PV

Large-scale solar and energy storage projects company Atlas Renewable Energy has raised approximately BRL 1 billion ($179 million) in a financing package to cover the construction of its 11 solar PV plants in Brazil’s Minas Gerais. 

Atlas is building the Draco Solar Complex, comprising 11 PV plants with a combined installed capacity of 579 MW DC/505 MW AC. It will also generate close to 2,100 direct jobs during the construction phase.  

On completion, this complex is expected to supply enough energy to power 569,000 homes, and will be deployed to meet industrial demand. Atlas has already secured telecom and data storage provider V.tal as the offtaker for the project’s full capacity of 710 GWh annually. Poultry producer Rivelli has contracted a 5.5 MW AC portion to meet 100% energy demand of its 5 manufacturing plants by 2026 from this facility (see Latin America Solar PV News Snippets: Acciona Announces 225 MW Solar Plant In Peru & More).

Approved by the Brazilian National Bank for Economic and Social Development (BNDES), the financing package also supports the construction of a 500 kV substation and a 15-km single-circuit transmission line. It will be connected to the country’s National Interconnected System (SIN) when the complex is commissioned in early 2026.  

“This project adds a significant volume of clean, renewable energy to our electricity mix and supports the government's decarbonization policy,” said Aloizio Mercadante, President of the BNDES. 

This is yet another collaboration for Atlas with BNDES. Atlas Renewable Energy CEO Carlos Barrera shared that BNDES financing has helped it deploy nearly 2 GW of installed solar capacity across Brazil. Previously, BNDES approved $210 million for Atlas’ 438 MW solar project in the country (see $210 Million For 438 MW Solar Power Plant In Brazil).