Hydro Rein partners with Atlas Renewable Energy and Albras to build a 438 MW solar project in Minas Gerais

Hydro Rein and Atlas Renewable Energy are forming a joint venture to develop and build the Boa Sorte 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 the fourth quarter of 2022, and operations are planned to start in the fourth quarter of 2023. Total investments are estimated at US$320 million. The solar farm will contain more than 800,000 bifacial modules, which will provide enough energy to avoid the emission of 61,500 tons of CO2 annually.  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.