Atlas Renewable Energy has completed the construction of two PV plants in Brazil – the Lar do Sol and the Casablanca facilities. The projects, situated in Pirapora, in the state of Minas Gerais, have a combined capacity of approximately 600 MW.
The Lar do Sol solar plant, with a capacity of 239 MW, will supply power to Unipar, a major producer of chlorine, soda, and PVC in South America. Banco do Nordeste do Brasil (BNB) provided a BRL 407 million ($80.6 million) loan to fund this initiative.
“By opting for PPAs, companies like Unipar and Anglo American demonstrate a long-term commitment to sustainability,” said Atlas Renewable Energy General Manager Luis Pita, noting that the facility is supplying energy to Unipar’s Cubatão plant, which produces chlorine used to treat water that supplies water to more than 60 million people.
In line with its sustainability objectives, Unipar has agreed to supply 80% of its operations in Brazil with renewable energy self-production projects by 2024.
The Casablanca solar plant, with an installed capacity of 359 MW, is currently supplying power to Anglo American, a global mining company engaged in iron ore and nickel mining operations in Brazil.
Atlas Renewable Energy and Anglo American have signed a 15-year PPA that aligns with Anglo American’s Sustainable Mining Plan. A central goal of this plan is to achieve net-zero carbon emissions across all its operations by 2040. The execution of this PPA marks a significant achievement for Anglo American, as it enables the company to establish a 100% renewable electricity portfolio for its Brazilian projects.
Financing for this project was secured through a €150 million ($158.4 million) loan obtained from IDB Invest in 2021. Atlas Renewable Energy currently boasts a portfolio of over 4 GW in contracted projects worldwide, with 2.2 GW already operational. The company’s strategic focus revolves around facilitating the transition to 100% clean energy for large corporations.
Furthermore, in April, Atlas announced a partnership with aluminum producer Albras for a 902 MW project in Paracatu, Minas Gerais. Atlas Renewable Energy operates under the umbrella of Energy Fund IV, established by Actis, a private equity firm specializing in energy sector investments.
Source: PV Magazine
