Atlas closes on USD$152 M financing for three solar plants in Brazil
Atlas Renewable Energy has announced the completion of long-term financing of three of its solar energy plants in Brazil for a total amount of USD152 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.
The Juazeiro and Sol do Futuro plants are currently in the start-up phase and will be fully operational in the coming months.
